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What is the most common real estate contract?

A purchase agreement is the most common type of real estate agreement. This contract specifies the details regarding the sale of property.

Why do you need a buy-sell agreement?

A buy and sell agreement assures a smooth transition of ownership and business continuity in the event of a departure of a partner or large equity owner. The agreement is a legally-binding contract that establishes how the departing owners shares will be obtained by the remaining partners.

ARE as is contracts standard in Florida?

The AS IS Heading It is in fact one of the most common standard contracts used in Florida. The AS IS Contract simply places no repair obligations on the seller, while the Standard Contract has default terms requiring that the seller make certain types of repairs up to a certain dollar amount.

How many types of buy and sell agreements are there?

There are two common forms of buy-sell agreements: In a cross-purchase agreement, the remaining owners or partners purchase the share of the business that is for sale. In an entity-purchase agreement (also known as a redemption agreement), the business entity itself buys the deceaseds share of the business.

What are the key elements of a buy-sell agreement?

A buy-sell agreement consists of three common elements: a triggering event, a valuation method and a funding strategy.

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