NEW: Coronavirus (COVID-19) Extension Addendum to Contract

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. – 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.

To view the form, log into Form Simplicity. Realtors who have questions are encouraged to call Florida Realtors Legal Hotline.

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https://www.floridarealtors.org/news-media/news-articles/2020/03/new-coronavirus-covid-19-extension-addendum-contract