Learn the Florida Contract for Sale and Purchase
Uh....the not so fun part where cool heads prepare and prevail to keep things on track.
This post is part of a full breakdown of the Florida CRSP-17 Contract.
Today we’re covering Section 15 – Default.
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🔥 Section 15 – Default: The Big Guns
This is the consequences clause—the one nobody reads until everything’s on fire.
If either party fails to perform, Section 15 tells us what happens next. And it’s brutal, especially if you're sloppy on timelines or escrow.
⚠️ Seller Default
If the Seller fails to perform (like refusing to close, ghosting the contract, or not delivering marketable title):
Buyer can get their deposit back
And still sue for damages or specific performance (forcing the sale)
Seller also owes the full brokerage fee—even if the deal falls apart
Key Point:
This is not limited to just returning the deposit. The buyer keeps all rights to escalate—unless the issue is with unmarketable title that the seller made a diligent effort to fix.
🔍 If You’re Representing the Buyer…
If you even suspect that a seller isn’t truly ready to close—or may get emotional or impulsive—get ahead of it.
💡 Pro move: Ask for an equal and offsetting deposit from the seller to be held in escrow.
Structure it so that:
If the seller defaults, the buyer keeps the seller’s deposit
The buyer’s deposit is refunded
And both parties waive claims for further damages or specific performance
This:
Ferrets out flaky sellers early—if they balk, you know what you’re dealing with
Protects your buyer from wasted inspections, financing costs, and emotional whiplash
⚠️ Important Disclaimer:
I’m a Realtor, not an attorney.
The concept above has been used in real transactions and reviewed by legal counsel in specific situations—but it is not legal advice.
Always consult a qualified real estate attorney to craft or review any additional contract language for your particular deal.
⛔ Buyer Default
If the Buyer fails to perform (like missing deposit deadlines or failing to close):
Seller can either:
Keep all deposits as liquidated damages, or
Sue for specific performance
Broker gets half the deposits (up to full commission)
Don’t gloss over this:
“All deposits paid and agreed to be paid” = even if the buyer didn’t send the second deposit yet, they still owe it—and that amount may be recoverable.
This language is tight. It traps flaky buyers and protects sellers—if timelines and contingencies are tracked properly.
🧠 Strategy Insight
Most agents treat default like a scary word. But here’s how a savvy agent uses it as leverage:
If you're representing the seller, and the buyer fails to deliver deposit #2 on time?
🔹 Don’t wait. Send a cure notice immediately. That clock matters.
🔹 If buyer doesn’t cure—contract is toast, and you may get to keep both deposits.If you’re with the buyer, and something goes wrong?
🔹 Communicate. Don’t go dark. Document everything.
🔹 Try to cure before seller elects to keep funds or enforce specific performance.
🧯 Liquidated Damages vs. Specific Performance
Let’s make it painfully clear:
OptionWho typically chooses?What it meansLiquidated DamagesSeller (when buyer defaults)Seller keeps deposits. Dispute ends—no further claims.Specific PerformanceBuyer (when seller defaults)Buyer sues to force the seller to close—often used when the home is unique, or prices are rising fast.
Buyers often think walking away just means losing a deposit.
Not always. But liquidated damages is usually the cleaner path—if the seller chooses it and does so clearly.
Sellers, on the other hand, sometimes don’t realize they’ve exposed themselves to a specific performance claim.
If the buyer wants that house badly enough—and the seller tries to walk away—they may get sued into closing.
🚨 Agent Mistakes That Trigger Default
Forgetting to track when the second deposit is due
Assuming that “we’re still talking” means the seller won’t enforce
Letting your buyer go past inspection or financing deadlines without clear extensions
Letting your seller ignore the title obligations but still trying to enforce default
Not explaining that “all deposits agreed to be paid” means they owe it—even if never delivered
Coming Up Next in This Series:
Section 16 – Dispute Resolution (Why arbitration might not mean what you think)
Section 17 – Escrow Agent Mechanics (And who really controls the cash)
The Addendum Deep Dive — Assignability, “As Is,” Kick-Outs, Appraisal Riders, and more
Don’t be that agent who learns Section 15 the hard way.
Get ahead of it. Know the triggers. Know the remedies.
And when in doubt—default to precision.