Legal Question in Real Estate Law in Florida

Contract with Ryland Homes

We signed a contract with Ryland Homes to purchase a townhome in Aug 2005. The contract did not disclose flood insurance was required. Three days before closing (which was supposed to be today-Dec 8) , my mortgage broker informed us that it was required, but Ryland would pay the first year. It is a new community and not all of the homes were in a designated flood plane. Ours was one that is. I would like to get out of the contract based on nondisclosure, but Ryland is giving us a hard time, saying that when FEMA comes back in when the community is finished that it probably won't be in a flood plane. I am not willing to take the risk and believe nothing they tell me anymore. What can I do? Thanks...my nerves are shot at this point!


Asked on 12/08/06, 4:51 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Contract with Ryland Homes

You will have to bring an action in recission based upon non disclosure. Your situation is a perfect reason for using attorneys before entering into a contract.

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Answered on 12/08/06, 5:05 pm


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