Learning the Florida Contract for Sale and Purchase

CRSP-17: Why the Closing Date Rules Everything

🟧 This post is part of a full breakdown of the Florida CRSP-17 Contract. Today we’re covering the Closing Date provision from Section 4. Scroll to the bottom for the full series list and what’s coming next. Subscribe now so you don’t miss the next drop. It’s free—but it’s built to raise the bar.

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Section 4 of the CRSP-17 Contract is short—but it’s loaded. It defines exactly when a deal is considered “closed” and what both parties are expected to deliver on the Closing Date.

Here’s the heart of the clause:

“Of the provisions in this Contract, the Closing Date will prevail over all other time periods including, but not limited to, financing and inspection periods.”

In other words: nothing else matters more.
Not the financing contingency.
Not the inspection period.
Not delays, not holidays.
Closing Date is the boss.

It goes on to say that by Closing Date, the seller will have:

• Removed all personal property and trash

• Swept the property clean

• Delivered deed, occupancy, possession, keys, garage openers, and access codes

That’s the expectation. And when that day comes, there’s no wiggle room.

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So When Is “Closing” Actually Considered Complete?

Let’s be precise, because this is where deals get messed up.

Under Florida real estate law, Closing officially occurs when:
✔ All required documents have been signed by both parties
✔ All funds have been received and cleared in the escrow/closing agent’s account

That's it. Once both conditions are met, the deal is closed.

Not when the seller gets their proceeds.
Not when wires arrive in personal bank accounts.
Closing = Signed Docs + Cleared Funds in Escrow

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Seller Confusion: One of the Last Big Mistakes That Can Derail a Deal

Many sellers think the sale isn’t final until they get the money in hand.
But that’s not what the contract says.
And it’s not what Florida law recognizes.

The moment the escrow agent has all signed documents and collected funds, closing is complete—and the seller must turn over possession immediately.

Here’s a common last-minute fire drill:

📅 Closing is scheduled for Friday.
💰 All funds are received.
🖊️ All documents are signed.
🚫 Monday is a bank holiday.
🕰 Seller doesn’t see the money in their account until Tuesday.

But closing already happened Friday.

Can the seller hold back the keys until they get “funded”?
Absolutely not.
That’s a breach of contract.

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Buyer Agents and Listing Agents: Get Ahead of This

This issue shows up all the time in the final 48 hours before closing—especially when it lands on a Friday or a holiday weekend.

Buyer Agents:
🔑 Prep your buyer to take possession on Closing Date, even if Monday’s a bank holiday.

Listing Agents:
📣 Coach your seller in advance: they must turn over the home once the closing agent has the money and the paperwork, even if they don’t see a wire until the next business day.

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Your Role as a Pro

Don’t wait until you’re chasing keys in a driveway.

This is one of the last “gotchas” that can sour a closing day—and it’s completely avoidable. Set expectations early, and point to the contract. The CRSP-17 has your back.

Just know where to look.

🔗 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

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