Legal Question in Real Estate Law in Florida
Home Deposit Refund
Last Nov. '06 we purchased a Ryland Home. We gave a deposit of $27,000. In March '07, they offered a $20,000 incentive to waive the ''contingency to sell''. Unfortunately, we signed the form and have been unable to sell our existing home.
Do we have a legal leg to stand on or should we walk away from our deposit?
If so, what fees does your firm charge to proceed with recovery of deposit?
Since the home construction is complete, Ryland now wants us to sign a ''mutual release of agreement of sale''.
Any assistance would be appreciated.
1 Answer from Attorneys
Re: Home Deposit Refund
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.
You may have some opportunity to salvage your deposit that only a review of your contract will determine. I would not agree to sign the mutual release until more is known.
Unfortunately, there are not enough facts in your question for any attorney to be able to provide you with any valid ideas. I would suggest that you meet with an attorney to review all the facts of your problem.
Scott R. Jay, Esq.
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