Condo Deposit Recovery

If you have entered into a pre-construction contract for the purchase of a condominium, townhouse, or detached home, and you would like to rescind your pre-construction contract, please contact our office because we can help.

Would you like to get back some or all of your deposit back for the purchase of a condominium, townhouse, or detached home from a Florida real estate developer? Please contact our office because we can help.

There are various legal requirements that a Florida condo developer must comply with in order to offer for-sale condo units, and if your developer fails to carefully follow some of these legal requirements, you may be able to terminate your contract for purchase.

For example, under the Interstate Land Sales Full Disclosure Act (“ILSFDA”) of Florida law, you may have the right to terminate the contract for your pre-construction condominium or home and receive all, or part of your deposit back. ILSFDA places certain requirements and responsibilities upon developers to make disclosures relating to the condition of real property. ILSFDA also contains anti-fraud provisions which impose civil liability to developers who make false or misleading promises. In the booming real estate market of the past decade, consumers paid large deposits for condo units only to experience delays of up to three (3) years between the signing of a contract and closing. Also, many contracts for the pre-construction purchase of a condo contain provisions that attempt to eliminate all of your rights for the benefit of the developer, this may cause the contract to become voidable and allow you to receive your deposit back from the developer. Contact us to review your pre-construction contract.

Remember, you have the right to defend your home, and we have different programs available to suit your needs. Contact us for a free consultation and discuss all your options. The sooner you seek legal advice, the better positioned you are to defend your foreclosure.