Learn the Florida Contract for Sale and Purchase

You Probably Skipped This Part, Didn’t You?

🚧 CRSP-17, Section 9: "Risk of Loss"

Let’s be honest:
If you’re an agent and you actually know what Section 9 of the CRSP-17 says without checking, congratulations — you’re doing the good work.

For the rest of you:
Go ahead and scroll to line 266. I’ll wait.

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So What Does It Say?

Section 9 – Risk of Loss is one of those clauses that doesn’t matter — until it really does.

Here’s the gist:

If the home under contract gets damaged before closing — fire, storm, flood, runaway Tesla battery fire (you know, life in Florida) — the seller may have to fix it, or may not. Whether or not the buyer can walk depends on when and how fast that restoration can happen.

Key phrase:

“…can be restored by Closing or within 45 days after Closing Date…”

If the seller can restore the property to “substantially the same condition,” then the buyer can’t walk just because they’re rattled.
If they can’t, the buyer can cancel or take the house “as-is” with a credit and assignment of any insurance proceeds.

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Let’s Break It Down Like a Real Human Would:

If a hurricane knocks a palm tree through the lanai two weeks before closing…

• 🧹 If it can be fixed before or within 45 days of the closing date: Seller handles it. Buyer closes after repairs.

• 🏚️ If it can’t be fixed in time: Buyer has a choice — walk or accept the property with a credit and the insurance claim.

Important note: Seller doesn’t have to replace trees. Which is wild because some buyers act like that palm was sacred.

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What Agents Miss (But Shouldn’t)

Too many agents assume:

“Oh, we’ll just cancel if something happens.”

No. That’s not how this contract reads. There’s no automatic escape hatch. This clause anticipates bad stuff happening and says: if it’s fixable quickly, you’re still on the hook to close.

Agents who are out here screaming “as-is contract” from the rooftops rarely understand that this clause exists. They think inspection is the only “surprise” that matters.

But Section 9 is about acts of God after you’re already locked in.

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For Agents Doing It Right

To those of you who do know what’s in Section 9 — you’re the pros.

You’re the ones who pause before responding emotionally when a roof caves in on day 3 of escrow. You’re the ones who pull up the contract, check the clause, and give your clients real options based on timing and damage scope.

You don’t wing it. You read it.

You give real advice. Not vibes.

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Buyer and Seller Strategy Tips

For buyers:
Ask your agent, “What happens if something happens to the house before we close?” If they fumble — run.

For sellers:
Make sure you have your insurance info and policy limits ready to go, just in case something happens. You’ll need to act fast.

For agents:
If you’ve never read this section before today, that’s okay. But now you don’t have an excuse. Screenshot it. Share it. Maybe even, you know, mention it during escrow.

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Final Thought: Stuff Happens. Read Your Contract.

This clause is a classic example of something you’ll wish you knew — after you needed to know it. Don’t be that agent who learns the hard way. Be the one who says, “Actually, Section 9 covers this,” and earns their commission with confidence.

Your job is not just to open doors and smile.
It’s to know what happens when a door falls off the hinges — and who pays to fix it.

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🔗 The Series So Far – Learn the Florida Contract for Sale and Purchase (CRSP-17 Sections 1–20)

✅ Section 1 – Parties and Property Description
✅ Section 2 – Purchase Price
✅ Section 3 – Financing
✅ Section 4 – Closing Date; Occupancy
✅ Section 5 – Closing Procedure; Costs
✅ Section 6 – Inspection Periods
✅ Section 7 – Real Property Disclosures

✅ Section 8 –Maintenance and Repairs

✅ Section 9 –Risk Of Loss

✅ Section 10 –Title