Legal Question in Real Estate Law in Florida

real estate purchase

what can the developer/sellers do to me financially if i become unable to close on a purchase contract i signed and put a 30k deposit on for the purchase a condo unit at pre construction price of 289k. completion has repeatedly been delayed for over a year and is now suppossedly to b completed by april 2009. /


Asked on 2/28/09, 12:34 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: real estate purchase

Keep the deposit and /or Sue for the balance. Read your contract.

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Answered on 2/28/09, 6:45 am
Steven Platzek Graner & Heimovics, P.A.

Re: real estate purchase

The language in the contract will dicate the developer's rights in the event of your default. However, the deveoper may have obligations under the contract, which he has failed to comply with, and which may entitle you to relief. Additionally, if the language in the contract failed to comply with the requirements set forth in the applicable federal statutes, you may be entitled to your deposit back. Should you wish to discuss this matter in greater detail, please do not hesitate to contact me.

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Answered on 2/28/09, 9:01 am


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