Florida Realtors released a new contract extension addendum that allows for time periods and dates to be extended as a result of the COVID-19 pandemic.
ORLANDO, Fla. (March 19, 2020) – A new form from Florida Realtors – the Coronavirus (COVID-19) Extension Addendum to Contract – is now live in Form Simplicity.
This form is available for use in the event the parties would like to extend certain dates or time periods as a result of COVID-19. As stated in the addendum:
“The Coronavirus (COVID-19) pandemic may cause unprecedented impacts to real estate transactions, including but not limited to travel restrictions, self-imposed and/or governmental required isolations, potential closures of offices and institutions required to fund, close and record real estate transactions, and action or inactions of a homeowners’ or condominium association.”
The form includes checkboxes with extension options for:
- Closing date
- Financing period
- Inspection period
- Title cure period
- Feasibility study period
- Due diligence period
- Homeowners’/condominium association approval
- The form also includes a provision for a loan-approved buyer should things change on the lenders’ side as a result of the COVID-19 pandemic.
Visit the Frequently Asked Questions About COVID-19 Addendum webpage from Florida REALTORS®
© 2020 Florida Realtors®