Florida Real Estate: What is a Valid Real Estate Contract?

FLorida: Today we are answering a Real Estate Question we have been ask many times :

What are the essentials of a Valid contract?

A valid, enforceable contract for the sale of real estate must have these elements:

  1. Legally Competent parties of those who making the contract
  2. Offer and Acceptance ( A contract does not exist until all perties have been accepted annd been notified of the acceptance.
  3. Consideration (Consideration is something of value, general in real estate dollars)
  4. Legal Purpose (to sell, list or rent in a legal fashion)
  5. Written Documentation
  6. Signatures of the principals or their attorney in fact (legal representation)