🧾Learning the Florida Contract for Sale and Purchase
CRSP-17 Deep Dive – Section 5: Closing Procedure and Costs and Section 6 Inspection Periods
A walkthrough for the agents who want to know what they’re doing
Section 5 of the CRSP‑17 contract might read like a list of who-pays-what, but there’s more to it than just filling in percentages and checking boxes. This section sets up the legal and financial groundwork for the closing — and when handled properly, it gives both parties a chance to operate in clarity and good faith.
But when misunderstood (which happens often), it creates conflict, confusion, or worse: unspoken assumptions that derail deals later.
Let’s walk through it item by item, using the actual structure of the contract — (a) through (g):
✅ (a) Seller Costs – The Most Common Point of Confusion
Seller costs go beyond deed taxes and curing title. The contract outlines three specific repair-related limits — and this is where most agents get lost:
Repair Limit for warranted items
WDO Repair Limit (wood-destroying organisms)
Permit Limit for open or expired improvements
Each limit defaults to 1.5% of the purchase price unless filled in otherwise — and here’s the key: these are three distinct buckets. They do not combine or spill over into each other unless the parties draft language that explicitly allows that.
And even then, good listing agents will push back on combining these limits — not to avoid repairs, but to create structure. The point is not just the amount of money spent; it’s the moment of recalibration. These limits serve as triggers to ask:
“Do we still want to close, and under what terms?”
The contract gives the seller the right to exceed the limit and perform repairs anyway — that’s the seller’s advantage.
The buyer’s advantage lies in being clear and reasonable. A good buyer agent knows how to guide their client toward fair expectations: it’s a resale home, not new construction. Reasonable sellers will usually fix meaningful issues. But if the repair totals exceed the limits, it’s fair to talk about adjustments — or to step away.
✅ (b) Buyer Costs – Clean and Straightforward
This one’s easy: buyers pay for loan expenses, surveys, inspections, insurance, and lender’s title policy — plus deed recording fees. These are standard financing-related closing costs, and there’s rarely confusion here unless someone skipped their lender consultation.
✅ (c) Title Evidence and Insurance – A Negotiation Disguised as a Checkbox
This is where regional custom meets real leverage.
The contract provides two paths:
The seller chooses the closing/title agent and pays the owner's title policy
Or the buyer does
In Walton County, for example, the buyer usually selects and pays.
In Bay County, just next door, the seller often does.
This one checkbox can shape the tone of the entire negotiation.
If a buyer asks the seller to pay title and closing, it’s effectively an ask for more closing concessions. That can cause unnecessary friction — especially if not discussed openly at offer time.
Smart agents don’t gloss over this. They have the conversation upfront with their client:
What does control of title and closing mean in this deal?
Does the cost shift affect the rest of the offer terms?
What does it signal to the other party?
It’s not just paperwork. It’s strategy.
✅ (d) Prorations – Predictable but Important
Everything from taxes and HOA dues to rents and insurance is prorated through the day before closing. If final numbers aren’t available, the most recent data is used — usually prior year taxes.
✅ (e) Special Assessments by Public Body – Not the Same as CDD
This one’s about lienable assessments, like a new sewer line or road paving assessment by a city or utility.
Seller pays those that are certified or confirmed
Buyer pays the rest unless otherwise negotiated
A checkbox determines who pays post-closing installments
Pro tip: this section does not cover CDD special tax liens — those are handled in the prorations section above. Many agents confuse that.
✅ (f) Home Warranty – Optional, and Rare Around Here
There’s a checkbox to indicate if a Seller, Buyer, or N/A applies — and a dollar cap.
In most 30A and luxury resale situations, these warranties are not used — but in transactions with older mechanical systems, lower price points, or first-time buyers, they might be worth offering as peace of mind.
✅ (g) Closing Date; Occupancy – Don’t Overcomplicate It
This confirms that the closing date rules the contract — even over financing or inspection deadlines. Buyer receives access, keys, codes, garage remotes, etc. at closing.
Delays of up to 10 days are allowed for:
Insurance issues (e.g., hurricanes)
Federal disclosure timing (CFPB rules)
If the deal doesn’t close, buyer must return title documents or repay seller’s doc prep costs (default $100 if left blank).
🧪 Section 6 – Inspection Periods
This section is short and to the point — but often overlooked.
The Inspection Period is exactly that: a defined window of time during which the property is available for inspection.
Once that time expires, the buyer can’t just keep “shopping the house” for more problems. That period closes, and now the buyer’s job is to present their requests (if any) under the repair structures we just covered in Section 5 — specifically those three limits: repairs, WDO, and permits.
This timing matters.
Because if the inspection deadline passes without the buyer taking action, their leverage to renegotiate, cancel, or request repairs diminishes sharply. Good agents — both sides — keep this date circled and communicate around it clearly.
🔍 Final Word
Sections 5 and 6 aren’t just about closing costs and dates — they’re about structure. They exist to prevent deals from falling apart due to vague assumptions or missed timing.
Understand the repair limits — and what they’re really there for
Talk through title control and closing agent selection as a strategy
Don’t overlook taxes, liens, inspections, and deadlines just because they feel routine
A great transaction isn’t about being lucky.
It’s about knowing the contract, anticipating the friction points, and preparing your client for what’s ahead — with clarity and calm.
Check out us having some fun but being also a bit serious
🔗 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