Legal Question in Real Estate Law in Florida

Re: Is there a cooling off period in florida

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.

There is not a "cooling off" period for real estate sales in the State of Florida. It would not be fair to either party to allow the other to change his/her mind after a Contract has been fully executed by both parties. Once a Contract has been signed it is fully enforeceable by either party.

The terms of the deposit to be held by the escrow agent are governed by the language in the specific Contract. It varies from Contract to Contract. If the Buyer breaches this clause, the Seller might have the right to declare the Contract to be in default and cancel the Contract.

I strongly suggest that you meet with an attorney who is knowledgable about real estate to discuss the specifics of your problem.

Scott R. Jay, Esq.