Under the FAR/BAR "As Is" contract with its default periods, a deal with an effective date of Monday, November 16, 2026 and a 35-day closing runs like this: deposit due November 19 if the contract says three days, inspection period ends December 1 (day 15), loan approval is due December 16 (day 30), the Closing Disclosure marker falls on Thursday, December 17 and closing is Monday, December 21. The homestead exemption filing deadline that follows is March 1, 2027.
The effective date starts every clock
The effective date is the day the last party signed or initialed the final terms. Every period in the contract counts in calendar days from that date, so it is worth writing down the moment it happens. If you leave the first field blank, the calendar counts from today.
FAR/BAR "As Is" defaults
The Florida Realtors and Florida Bar "As Is" Residential Contract (revision 7, 2024) is the standard form this calendar follows. Two of its blanks matter most, and the form fills them in for you if they are left empty:
Inspection period: 15 days. During this window the buyer may cancel for any reason and get the deposit back. In competitive Central Florida offers, 7 to 10 days is often written in instead. Book the home inspection, the four-point and wind mitigation inspections and any specialists early enough to read the reports before the last day.
Loan approval period: 30 days. A financed buyer who cannot get loan approval within the period can cancel under the financing contingency and recover the deposit, if notice is given on time. There is no built-in appraisal number; appraisal protection is added by a rider or addendum.
The same form gives 30 days to cure a title defect. The deposit itself is negotiated: 1% to 3% of the price is the usual custom in 2026, and your contract states how many days you have to deliver it. Three days is this tool's starting value, not a rule.
The dates near closing
The calendar also marks a title and survey review five days before closing, the Closing Disclosure three business days before, and the final walk-through and wire the day before. Federal rules require the lender to give you the Closing Disclosure at least three business days before closing (Consumer Financial Protection Bureau). The calendar counts back three days and skips Sundays; it does not know about federal holidays. The other two are planning markers counted in calendar days. Your lender's and title company's actual timing governs, so weekends and holidays can move them earlier. Always confirm wire instructions by calling a phone number you already trust.
The last entry is the homestead exemption: own and live in the home on January 1, then file with the Orange County Property Appraiser by March 1 of that year.
How long it usually takes
A financed purchase commonly closes 30 to 45 days after the effective date. Nationally, purchase loans averaged 36.8 days to close in March 2026 data published by ICE in May 2026. Cash purchases can close faster because there is no loan approval period.
This page explains a standard form in general terms. It is not legal advice, and your signed contract controls. For questions about your rights under a specific contract, ask a Florida real estate attorney. Related tools: closing costs, property tax and the mortgage calculator; see also the guides and neighborhood pages.
Where the numbers come from
| Item | Value | Source |
|---|---|---|
| Inspection period if left blank | 15 days after the effective date | FAR/BAR "As Is" contract, rev. 7 (2024) |
| Loan approval period if left blank | 30 days after the effective date | FAR/BAR "As Is" contract, rev. 7 (2024) |
| Title cure period | 30 days | FAR/BAR "As Is" contract, rev. 7 (2024) |
| Escrow deposit custom | 1% to 3% of the price (2026) | Wells Fargo, earnest money |
| Average time to close a purchase loan | 36.8 days (March 2026 data, national) | ICE Mortgage Monitor, May 2026 |
| Closing Disclosure | At least three business days before closing | Consumer Financial Protection Bureau |
| Homestead filing deadline | March 1 | Florida Dept. of Revenue PT-112 |
Questions people ask
How long is the inspection period in Florida?
Whatever the contract says. On the FAR/BAR "As Is" form it is 15 days after the effective date if the blank is left empty, and 7 to 10 days is often written in for competitive offers in Central Florida. During that period the buyer can cancel for any reason and recover the deposit.
How long does it take to close on a house in Florida?
A financed purchase commonly takes 30 to 45 days from the effective date. The national average for purchase loans was 36.8 days in March 2026, according to ICE. Cash deals can close sooner.
What happens if my loan is not approved in time?
The "As Is" contract gives 30 days for loan approval if the blank is empty. A buyer who cannot get approval can cancel under the financing contingency and recover the deposit, but only by giving the notice the contract requires within the period. Letting the date pass without notice can put the deposit at risk, so ask your agent or attorney before the deadline.
When do I file for homestead after buying?
By March 1 of the first year in which you own and live in the home on January 1. A buyer who closes and moves in during 2026 files by March 1, 2027 for the 2027 tax bill. Miss January 1 and the first year is taxed without the exemption.
Questions about a deadline in your own contract? Contact Robert or call 352-504-6371.
