Florida FAR/BAR "AS IS" Contract Closing Process: A Title Agent's Guide to the Deadlines That Matter

I want to start with something I told a whole room of real estate agents recently: in the last six months alone, I've watched buyer after buyer walk away from $5,000 deposits. Just leave the money on the table. And I've seen plenty of deposits lost the other way too — a buyer misses a contract deadline, the seller holds them accountable, keeps the escrow, and turns around and sells the house to somebody else. That's why understanding the Florida FAR/BAR "AS IS" contract closing process isn't paperwork trivia. Every deadline in that contract has real money attached to it. I'm a licensed Florida title agent in Palm Beach County, and tracking these dates is a big part of what my office does every single day. Here's how the process actually works.

The Clock Starts at the Effective Date

Every deadline in a FAR/BAR contract counts from one thing: the effective date. That's the date the last party signed. If a buyer sends a signed offer on the 24th and the seller doesn't sign it until the 25th, the effective date is the 25th — not the day the offer went out, not the day it was received. I see people miscount this all the time, and when every deadline in the deal is measured from that one date, starting the count a day early or late throws off everything downstream.

The First 72 Hours: The Deposit

When a contract hits my desk, the first thing we're doing is making sure the escrow deposit has been made — whether it's with our company or whoever is holding escrow. That initial deposit is the most important early item, because once it's in, we can send out the escrow letters and everybody knows they have a valid, funded contract. Until that deposit lands, you don't really have a deal tied down; you have a signed piece of paper.

How the Days Are Counted (This Trips Everyone Up)

Here's a detail that catches people constantly on FAR/BAR contract timelines: for the short time periods in the contract — five days or less — weekends and holidays don't count, and any deadline that lands on a weekend or holiday rolls to the next business day. My practical way of remembering it: if the banks can't wire money that day, don't count on it. Banks may be open on a Saturday, but the Fed is closed — funds can't move. So when you're counting toward a deposit deadline or a notice deadline, count business days for the short periods and always check where the date actually lands. A deadline you thought was Monday might really be Friday, and on these contracts that difference can cost you your deposit.

The Inspection Period: Where "AS IS" Deals Get Renegotiated

The inspection period on an "AS IS" contract is really interesting, because here's what most sellers don't understand: during that inspection period, the buyer can cancel for any reason at all. They don't need a reason. They don't have to give a reason. They could decide they don't like the color of a door, and that's enough to cancel and get the deposit back — as long as they're inside the inspection period.

The seller's expectation on an "AS IS" contract is "you're taking the property as is." But what I see on a pretty regular basis is buyers using the inspection period to essentially renegotiate the contract — they come back with a list from the inspection and ask for repairs or a price reduction, and because they hold an unrestricted right to cancel, they have the leverage to ask. There's a real misconception of "well, it's AS IS, so we're done negotiating." In practice, the inspection period is the second negotiation.

The Loan Commitment Deadline in Florida Real Estate

If the buyer is financing, the loan commitment deadline is one of the most important dates in the contract. The contract spells out exactly when it's due, and it needs to be delivered in a timely fashion — or the other party can have the right to walk from the contract. This is the deadline I consider most dangerous for buyers, because a lender running slow doesn't pause the contract. Your lender needs to be tracking that date, and your title company should be watching the calendar right alongside them. When financing isn't ready and nobody deals with the deadline in writing before it expires, that's how deposits end up in dispute.

The Title Commitment: Delivered Is Not the Same as Cleared

The same timing discipline applies to the title commitment. The contract tells you when it must be delivered — a set number of days after the effective date or before closing, whatever the parties filled in (15 days is a common one). You want a title company that delivers the commitment based on what the contract says, because a late commitment can give the other side a way out.

But here's the misunderstanding I clear up constantly: delivering the title commitment doesn't mean the title is clear. The commitment is the notice of what needs to be done — it's the list of items that have to be cleared and cured before the file can go to closing. An unreleased mortgage, an open lien, an estate issue: our comprehensive title search identifies what has to be resolved. Our job from there is getting the file clear to close — every item on that commitment satisfied before you sit down at the table. In Palm Beach County, staying ahead of these title closing deadlines is the difference between closing on time and scrambling in the final week.

Standard FAR/BAR vs. "AS IS": The Real Difference

Honestly? I pretty much see "AS IS" contracts across the board these days — the standard FAR/BAR contract is rare in my office. But the main difference is worth knowing. The standard contract has a repair clause: the seller is required to make repairs up to a certain dollar amount or percentage of the contract price, whatever the parties filled in. The "AS IS" version has none of that language — no repair obligation at all. That's exactly why the inspection period carries so much weight on an "AS IS" deal: with no repair clause to lean on, the inspection period is where the renegotiation happens instead.

One thing "AS IS" does not do: it doesn't erase a seller's duty under Florida law to disclose hidden problems they actually know about that materially affect the property's value. "AS IS" means no repair obligation — it's not a license to hide things.

My Advice to Sellers: Collect a Real Deposit

This is my two cents after watching this play out for years, and it's what I told that room full of agents: sellers should be collecting bigger deposits. I've got contract after contract with a $2,000 or $3,000 deposit, and I've watched too many buyers walk away from $5,000 like it's nothing. Look at the contract — it usually tells you how much cash the buyer is bringing to closing based on their financing. If they're bringing that money anyway, there's no reason a larger portion of it can't go up front as the deposit. Ask for $10,000, $15,000, $20,000, depending on the deal. Buyers with real money down either stay committed or cancel early in the process instead of at the finish line — and either outcome protects the seller.

One Last Thing

I help my clients understand these contracts as much as I can — I'm a Florida title agent, and I've been doing this a long time. But I'm not an attorney. Read your contract, and if something in it doesn't make sense, spend the money to have a real estate attorney look at it. And if you want a title company in Jupiter or Palm Beach County that actually tracks these deadlines instead of just watching them go by, call Jupiter Title Insurance & Closings. Watching the calendar is half the job — and it's the half that saves your deposit.