3-Day Attorney Review
Definition:
A 3-Day Attorney Review refers to a **contractual period** during which either party in a real estate transaction—typically the buyer or seller—may have their attorney review, approve, or cancel the signed purchase agreement without penalty. This clause provides a short window, usually three business days, to ensure the contract is fair, accurate, and compliant with applicable laws before becoming fully binding.
3-Day Attorney Review Information
The 3-Day Attorney Review period is most commonly found in real estate contracts, particularly in states where such provisions are customary or required by law. During this period, both parties may have their respective attorneys review the terms of the contract and negotiate amendments.
If either attorney disapproves of the contract within the review period, the agreement can be canceled or modified based on mutual consent. Once the three-day period expires without objection, the contract becomes legally binding on both parties.
This review period protects buyers and sellers from signing agreements that contain unfavorable terms, unclear obligations, or legal inconsistencies. It also ensures that the transaction aligns with state laws and the client’s best interests.
Florida Legal Definition
In Florida, a 3-Day Attorney Review clause is **not mandated by statute**, but parties may voluntarily include it in the purchase and sale contract. Florida real estate contracts—such as those approved by the **Florida Realtors and The Florida Bar (FR/BAR)**—already contain built-in legal protections and contingencies, reducing the need for a formal attorney review period.
However, Florida buyers and sellers can negotiate an attorney review provision to allow time for legal counsel to review the agreement before it becomes binding. The review period typically begins once both parties have signed the contract.
How It’s Used in Practice
In practice, the 3-Day Attorney Review is most often used in residential real estate transactions where buyers want to ensure the contract protects their interests. Attorneys may review provisions related to financing, inspections, contingencies, title, and closing obligations.
If concerns arise, the attorney may send a written notice to the other party within the review window to cancel or propose modifications. In Florida, while not standard, this clause may be added through an addendum or negotiated term.
Key Takeaways
- The 3-Day Attorney Review provides a short period for legal review of a real estate purchase contract.
- Either party may cancel or modify the contract during the review period without penalty.
- Commonly used to protect buyers and sellers from unfavorable or unclear contract terms.
- In Florida, the clause is optional and must be expressly included in the agreement.
- The review period typically begins once both parties have signed the contract and lasts three business days.
Disclaimer: The information and opinions provided are for general educational, informational or entertainment purposes only and should not be construed as legal advice or a substitute for consultation with a qualified attorney. Any information that you read does not create an attorney–client relationship with Barnes Walker, Goethe, Perron & Shea, PLLC, or any of its attorneys. Because laws, regulations, and court interpretations may change over time, the definitions and explanations provided here may not reflect the most current legal standards. The application of law varies depending on your particular facts and jurisdiction. For advice regarding your specific situation, please contact one of our Florida attorneys for personalized guidance.
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