Legal Question in Real Estate Law in Florida

Hi,

I actually made a downpayment on a condo 2 years back - Now the condo is ready, but it is like 60% down from the initial price and as it is down, I am not able to get loan from any bank - Meanwhile the builder filed for bankruptancy and when I contacted the bank which had the escrow account for the down payment (20% of initial price), they say it is forfeited.

What do I do at this stage ? What are my chances of receiving anything of my down payment ?

Thanks in advance for your help!


Asked on 11/07/09, 11:56 pm

1 Answer from Attorneys
Sarah Grosse Sarah Grosse, Esquire

Many people are in your same situation. You should have an attorney in FL (if that is where the property is located) look at the contract(s) for sale to determine what you can do from here. It is possible that you may be able to recover (or try to recover) your down payment, depending on your contract and situation. Without reviewing your specific case, no one can possible opine on your chances of success.

I have worked on several cases such as this and would be willing to give you a free initial consultation. Email me if I can help.

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Answered on 11/13/09, 9:40 am


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