--- title: "Time Is Of The Essence" description: "" url: "https://www.giumentaschoolofrealestate.com/rics-blog/15-time-is-of-the-essence" date: "2026-06-10T10:06:29+00:00" language: "en-GB" --- [![2020-logo-325-2.png](https://www.giumentaschoolofrealestate.com/images/2020/06/04/2020-logo-325-2.png)](http://giumentaschoolofrealestate.com/) ## 4871 Palm Coast Pkwy NW #2 Palm Coast, FL 32137 ## Phone: 386-246-3131 FAX: 386-246-3162 [![2020-logo-325-2.png](https://www.giumentaschoolofrealestate.com/images/2020/06/04/2020-logo-325-2.png)](http://giumentaschoolofrealestate.com/) ## 4871 Palm Coast Pkwy NW Suite 3 Palm Coast, FL ## Phone: 386-246-3131 FAX: 386-246-3162 [](#)- [Home](https://www.giumentaschoolofrealestate.com/) - [About](https://www.giumentaschoolofrealestate.com/about-us) - [Info](#) - [School Policies ](https://www.giumentaschoolofrealestate.com/information/school-policies) - [State Licensing Requirements ](https://www.giumentaschoolofrealestate.com/information/state-licensing-requirements) - [Ric's Favorite Links ](https://www.giumentaschoolofrealestate.com/information/rics-favorite-links) - [Coast Title Agency ](https://www.giumentaschoolofrealestate.com/information/coast-title-agency) - [Palm Coast Weather ](https://www.giumentaschoolofrealestate.com/information/palm-coast-weather) - [News Article](https://www.giumentaschoolofrealestate.com/information/news-article) - [FAQ's ](https://www.giumentaschoolofrealestate.com/information/faq-s) - [Accessibility Statement ](https://www.giumentaschoolofrealestate.com/information/accessibility-statement) - [GSRE Online](https://www.giumentaschoolofrealestate.com/gsre-online) - [Courses Available](#) - [Pre and Post License Classes 2026](https://www.giumentaschoolofrealestate.com/courses-available/pre-and-post-license-classes-2026) - [Continuing Education 2026](https://www.giumentaschoolofrealestate.com/courses-available/continuing-education-2026) - [Contact](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [Contact Us](https://www.giumentaschoolofrealestate.com/contact/contact-us) - [Register](https://www.giumentaschoolofrealestate.com/contact/register) - [Media](https://www.giumentaschoolofrealestate.com/media-video) - [Video ](https://www.giumentaschoolofrealestate.com/media-video/video) - [Video Archive ](https://www.giumentaschoolofrealestate.com/media-video/video-archive) - [Reviews](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [Review Us](https://www.giumentaschoolofrealestate.com/reviews/review-us) - [Read Our Reviews ](https://www.giumentaschoolofrealestate.com/reviews/read-our-reviews) - [Blog](https://www.giumentaschoolofrealestate.com/rics-blog) - [Pay Online](https://www.giumentaschoolofrealestate.com/paypal) # Blog # Time Is Of The Essence [ ](#)- [ Home](https://www.giumentaschoolofrealestate.com/rics-blog) - [ Print](https://www.giumentaschoolofrealestate.com/rics-blog/print/15-time-is-of-the-essence "Print") - [ Subscribe](https://www.giumentaschoolofrealestate.com/javascript:void(0) "Subscribe") - [ Report](https://www.giumentaschoolofrealestate.com/javascript:void(0) "Report") - Last updated: 25 November 2020 15:00 - Created: 25 November 2020 14:57 - 1 min read - Hits: 5142 - Rating: - [](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [](https://www.giumentaschoolofrealestate.com/javascript:void(0);) - [](https://www.giumentaschoolofrealestate.com/javascript:void(0);) ![Time Is Of The Essence](https://www.giumentaschoolofrealestate.com/components/com_rsblog/assets/images/blog/15.jpg?nocache=6a2937259d2d7) ## The most common contract used in Florida is the Florida Realtors/Florida BAR Residential Sale and Purchase contract. According to the contract “Time is of the Essence”. Now, whether you use the “As-Is” or the “Standard” contract the provision for “Time is of the Essence” is the same. So, what does it mean? It means that the contract calls for specific dates to perform the actions in the contract or there could be consequences. When I say specific, I mean “drop dead dates”! For instance, if the closing date states November 1, then that is when the closing happens. Yes, even if you put “on or before” in front of the date! If you put “on or before” in front of the date, you still need both buyer and seller signatures to move it up! You are falsely setting the customers up for disappointment by allowing them to think that it may be moved up, because it needs both parties to agree in writing to do so. It should not be moved up verbally. All things must be in writing to be enforceable according to the Statute of Frauds. So, don’t bother to put “on or before” in the contact because it is meaningless. Just use specific dates. If you would like more information contact me. I’m Ric Giumenta. You can have a good day or a bad day. It’s your choice. Make good choices. See you next time! - Posted in: - [Ric's Blog](https://www.giumentaschoolofrealestate.com/rics-blog/category/3-rics-blog) - Tagged with: - [Florida Realtors](https://www.giumentaschoolofrealestate.com/rics-blog/tag/25-florida-realtors), - [Florida BAR](https://www.giumentaschoolofrealestate.com/rics-blog/tag/32-florida-bar), - [Residential Sale and Purchase contract](https://www.giumentaschoolofrealestate.com/rics-blog/tag/33-residential-sale-and-purchase-contract) | | [Tweet](https://twitter.com/share) | | [Share](https://www.addtoany.com/share_save) | |---|---|---|---| ### Authors #### Ric Giumenta ![](https://www.giumentaschoolofrealestate.com/media/com_rscomments/images/loader.gif) [ My comments ](https://www.giumentaschoolofrealestate.com/javascript:void(0); "This will show all of your comments.") 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