Legal Question in Real Estate Law in Florida
If a financial institution accepts a full offer for a listing and later, before writing the letter they decide not to sell the property at the price listed... has any law been broken?
1 Answer from Attorneys
The question cannot be answered without more facts. Did both parties sign the contract? If so, the question is not whether a law has been broken, but whether you can sue for breach of contract. It would probably be cost prohibitive to sue. You would have to retain an attorney for that and it would probably cost around $3500 to do that. You would also have to pay court costs. The trick is to get the bank to sell for much less than the listed price, and less than the tax role value. Banks are inundated with properties that cost them money in maintenance and taxes. Do not offer the listed price.