Timeshare Resale Contract Template (Page 5 of 6) in pdf

Timeshare Resale Contract Template Page 5

GUIDE TO USE OF FLORIDA ADDENDUM TO RESALE

AGREEMENT

The FLORIDA ADDENDUM should be attached to the Resale Agreement in the following

situations:

1. The timeshare unit is located in Florida, or

2. The contract is signed by one of the parties while in the State of Florida.

Under a Florida statute adopted in 1995, if a contract made in Florida or involving a Florida

timeshare does not include the provisions set forth in the FLORIDA ADDENDUM, the buyer may

cancel the transaction anytime up to a year after the closing.

You need to provide certain information to complete the FLORIDA ADDENDUM; this may

require your calling the resort to get some of the information.

1. In the first paragraph, insert the amount of the most recent regular assessment and the date by

which payment is due each year.

2. If you do not receive a separate real estate tax bill in addition to your annual maintenance bill,

then check the box for the second paragraph. If you do receive a separate tax bill, then check the

box for the third paragraph and fill in the amount of the most recent tax bill for your unit.

3. If either your maintenance assessment or real estate taxes are not current, then you must check

the box for the third paragraph and fill in the amount that is past due. If there is a daily charge for

interest or late charges, then fill in this amount as the "per diem" charge in paragraph three.

Your first letter to the Buyer, which goes with the contract, should include a sentence reminding the

Buyer to sign both the main contract and the FLORIDA ADDENDUM. Don't forget to sign both

parts yourself when you get it back from the Buyer with the deposit check!

If the Buyer wants to exercise the right to cancel the contract, this must be done in writing within 10

days after the Buyer has signed the contract. If the Buyer does cancel within the 10-day period, you

are obligated to return the deposit.

Timeshare Resale Contract Template Page 5