Legal Question in Real Estate Law in Florida

backing out of condo contract

I signed a contract on feb 2, 2005, and have since paid 90,000 into escrow. The contract specifically said the unit was to completed with in two years. The contract states occupancy can be delayed inder fl law, upon impossibility if performance.(storms were in 2004) The Developer new feels July2007 is the target date.

Chances of me prevailing? I am located in brevard county, and plan to deliver a demand letter of returning earnest money deposit due to lack of completion. Anyone handle a similiar situation? This property was purchased for 579K, and wouldn't sell for 500k in todays enviorment. Does fla statute 718.202(5), help me?how about ILSFDA ?

Thanks, Jim


Asked on 3/20/07, 11:50 am

1 Answer from Attorneys
Johm Smith tom's

Re: backing out of condo contract

An attorney would need to read your contract(s) to give you a reliable opinion on this issue. I've already seen several similar questions; so there are definitely attorneys in your area who are negotiating/litigating this very issue.

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Answered on 3/20/07, 12:32 pm


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