Legal Question in Real Estate Law in Florida

Is it legal to have a clause in the contract when purchasing a new home from the developer that states if bank does not approve your

loan--you forfeit any and all deposit and downpayments??


Asked on 4/14/14, 6:02 am

1 Answer from Attorneys

Barry Stein De Cardenas, Freixas, Stein & Zachary

It is legal and enforceable. If you don't want to agree to it prior to your signing anything you can negotiate it out.

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Answered on 4/14/14, 8:01 am


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