Legal Question in Real Estate Law in Florida
Builder want to keep my deposit...
About 9 months ago we signed a contract to build a production home by US Homes. Ever since, US Homes closed down in Fl. but the mother company Lennar took over.
Everithing was ok till this past feb that an extenuating circumstance out of our control happened. We lost our jobs thus not being able to qualify and verify employment for our loan. We informed the lender UAMC which is the mortgage division of lennar homes, on what to do, to which they say we have to take with builder. The Builder Lennar Homes has stated that they have canceled my contract because we are failing to close by 4-15-07 and that they will be keeping my over 30k deposit. They knew ahead of time, Its not as we voluntarily canceled, something out of the norm happened. Ever since, We have relocated to another state where my prior company recommended us for a job opening they knew about. (Sort of like a transfer)
Can they keep our money? I was under the impresion that when a contract falls thru because job loss or transfer one can not be held responsible, specially specialized jobs as ours, we work for the spanish media.
Please advise as best as you can or guide on what we can do.
3 Answers from Attorneys
Re: Builder want to keep my deposit...
You should have an attorney review your contract to decide if action can be taken.
Re: Builder want to keep my deposit...
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
Without reviewing the Contract it is extremely difficult to give any real answer, but based on my general knowledge of developer's contracts you either did not have a mortgage contingency or only had it for a limited time. Regardless, once you were approved for a loan, the contingency has been met and is of no further effect.
Job loss or transfer is generally not grounds to cancel a contract unless it contained some provision to that effect. Unfortunately, it would seem that the developer is correct based on the limited facts you have presented.
I would strongly suggest you have a qualified real estate attorney review your contract to see if there are any provisions that might provide some method to terminate the contract but it is not likely.
Scott R. Jay, Esq.
Re: Builder want to keep my deposit...
My firm handles caes in this area of law, and we practice in your community!! If you need assistance e-mail us at [email protected].
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
