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In this tutorial, the speaker reviews the "as is" residential contract, highlighting best practices, useful clauses, and their impact on transaction acceptance and successful closing. The speaker encourages audience participation by inviting questions through a chat box or by raising hands. The "as is" contract is identified as the most widely used sales and purchase contract in Florida, formatted by Florida Realtors and developed by attorneys. It is emphasized that the contract must be completed by filling in the blanks, as writing a unique contract is not permitted.