The Florida As-Is Contract, Explained
If you just read through the Florida “AS IS” contract and felt your head spin, you’re in good company. It runs 13 pages of small print, and the words “as is” sound a little scary. Here’s the good news: this is the contract most Florida buyers sign, and it includes some of the strongest buyer protections around. Let’s walk through it in plain English.
Watch: Ryan walks through the as-is contract
What “As Is” Really Means
“As is” does not mean “no inspections” or “you’re stuck with whatever you find.” It means the seller isn’t promising to make repairs. You still get to inspect the home top to bottom. If you don’t like what you learn, you can walk away during the inspection period. You can also ask the seller for a repair or a price credit; they just aren’t required to say yes.
The seller does have to keep the home in the same condition it was in when the contract became effective (normal wear and tear aside), including the lawn and pool. That’s called the “AS IS Maintenance Requirement.”
The Inspection Period: Your Safety Net
This is the heart of the contract. Unless a different number is written in, you have 15 days after the Effective Date (the day the last party signs and the final offer is delivered) to do any inspections you want: a home inspection, wind mitigation, four-point, roof, termite (WDO), pool, and so on.
During that window, if you decide in your “sole discretion” that the property isn’t right for you, you can cancel by giving the seller written notice before the period ends, and your deposit comes back to you. You don’t need a specific reason. A couple of things to know:
- You pay for your inspections, and you’re responsible for fixing any damage they cause.
- If you let the inspection period pass without canceling, you accept the home’s physical condition, plus any repairs your lender requires.
- Days are calendar days, and weekends count. If a deadline lands on a weekend or national holiday, it rolls to the next day that isn’t a weekend or holiday.
Your Deposit and Escrow
Your earnest money deposit goes to the escrow agent named in the contract, usually a title company or attorney. Unless the contract says otherwise, the initial deposit is due within 3 days after the Effective Date, and any additional deposit within 10 days. Missing a deposit deadline can put you in default, so put these on your calendar. When a real estate broker holds a deposit, Florida law requires it to be placed in escrow promptly.
Financing Basics
If you’re getting a mortgage, the financing section protects you too. By default you must apply for your loan within 5 days, and you have a 30-day Loan Approval Period to get approval. If, after a good-faith effort, you can’t get approved, you can cancel in writing before that period ends and get your deposit back.
One important detail: if the Loan Approval Period ends and you haven’t sent any written notice, the contract keeps going as if you were paying cash, and your financing protection is gone. That’s why we track this date closely.
What About the Appraisal?
In the main contract, the financing contingency covers a lender’s appraisal that’s good enough for the lender to make your loan. If you want the right to cancel when the appraisal comes in below the price, that’s handled with a separate Appraisal Contingency Rider. Ask me whether it makes sense for your offer.
Title, Survey, HOA and CDD
- Title: You’ll receive a title insurance commitment before closing. You then have 5 days to raise any title problems, and the seller gets time to fix them.
- Survey: You can order a survey (at your cost). If it shows a problem like a fence over the property line, you notify the seller within 5 days of receiving it.
- Flood zone: If the home is in certain flood areas and doesn’t meet flood elevation or insurance rules, you have 20 days by default to cancel.
- HOA: Florida law requires an HOA disclosure summary before you sign. If you didn’t get it first, you can cancel within 3 days of receiving it (or before closing, whichever comes first).
- CDD: Many Central Florida communities have a Community Development District, which shows up as an extra assessment on your property tax bill. The contract prorates these, and you’ll want to know the amount before you commit.
The Seller Still Has to Be Honest
“As is” doesn’t let a seller hide problems. In the 1985 case Johnson v. Davis, the Florida Supreme Court held that a seller who knows of facts that materially affect a home’s value, which aren’t readily observable and aren’t known to the buyer, must disclose them. The contract reflects this: the seller states they know of no such undisclosed facts. Your inspections are still your best tool, but honesty is required.
How It Differs From the Standard Contract
Florida also has a “standard” (non-as-is) Residential Contract. In that version, the seller agrees to make certain repairs up to set caps, which are 1.5% of the purchase price each for general repairs, termite damage and open permits if left blank. In exchange, the buyer must follow specific notice rules and only certain items qualify. With the as-is version, there are no repair caps, but you get the simple, broad right to cancel. Many buyers and sellers prefer that clarity, and repairs can still be negotiated.
Key Deadlines Checklist
Defaults below apply if the blanks are left empty. Your contract may say something different, so always check yours.
- Initial deposit: 3 days after Effective Date
- Loan application: 5 days
- Seller provides any existing owner’s title policy (or other title evidence) and any existing survey: 5 days
- Additional deposit: 10 days
- Inspection Period ends: 15 days
- Flood zone cancellation: 20 days
- Loan Approval Period ends: 30 days
- Title commitment delivered: 15 days before closing (5 if cash)
- Walk-through: day before closing or day of closing
Common Questions
Can I still ask for repairs? Yes. You can ask, and the seller can agree, counter or decline. Any agreement should be put in writing.
Will I lose my deposit if I cancel? Not if you cancel in writing within the inspection period, or under another contingency, on time.
Is “as is” a red flag about the house? No. It’s simply the most widely used form in Florida and doesn’t mean anything is wrong.
Is there a 3-day cooling-off period? Not automatically. Florida resale contracts don’t include one, which is why the inspection period matters so much.
A Quick Note
This article is general information to help you feel more comfortable, not legal advice. Every contract is a little different. For questions about your specific situation, ask me or talk with a Florida real estate attorney.
Questions about your contract? Call or text Ryan at 407-342-6367.
Photo: “Orange Cty crths history center01” by Ebyabe, via Wikimedia Commons, CC BY 2.5. Resized.
