Legal Question in Real Estate Law in Florida

Real Estate

I purchase a condo in Fort Lauderdale, FL in may 2005, I put 20% down. Builder said roughly 2 yrs before it should be finished. It took them 2 1/2 yrs. In which that time i lost my job and no longer is employeed and cannot afford this mortgage. Is there any possible way I can get back my deposit I put towards this purchase?


Asked on 11/09/07, 2:39 pm

2 Answers from Attorneys
Daniel Harrison Berger Harrison, APC

Re: Real Estate

In new construction, the obligation to purchase is many times conditioned upon the purchaser's ability to secure financing. Read your documents. Without a job, I doubt you would be approved for a loan. Also, read your documents as to when the delivery date is supposed to be. If the builder is late, you may have a basis for canceling the purchase.

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Answered on 11/12/07, 6:01 pm
George Shers Law Offices of Georges H. Shers

Re: Real Estate

It would be difficult to get lit back from the developer. You would have to provide that the additional 6 months resulted in some negative detriment to you that the seller was reasonably aware of. Is the unit worth more now then when you "bought" it so that you can sell it. See if the developer is willing to buy back the property

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Answered on 11/09/07, 2:59 pm


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