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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29062
Experience:  30 years of real estate practice experience.
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I am buying a Model home. The builder offerd to lease it

Customer Question

I am buying a Model home. The builder offerd to lease it back I agreed but now they send me the lease back contract to sign and the clauses are abusive, so I am not going to sign the leaseback contract.the mortgage papers are approved but the seller says that I have to sign the lease back contract . In my sales contract I don't have a clause indicating that the house is a model one or that I have to sign a lease back contract. I did sign the sales contract.
My realtor doesn't show up and the lady from the mortgage bank told me that I can go there and close the mortgage but that I would get into legal aspects with the builders since Florida law states that model homes were mandatory to be a lease back.If I close the mortgage deal would I get in trouble ?
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Loren replied 1 month ago.

Good evening. I am Loren, a Florida licensed attorney, and I look forward to assisting you.

I am not clear what you mean about model homes and mandatory lease back. Could you explain?

Customer: replied 1 month ago.
Hi LorenBy model home is the one the builders use to show to potential customers ( with all the upgrades)By mandatory is binded or obligated. They told me that if the home is a home model I am obligated to lease it back
Expert:  Loren replied 1 month ago.

I know what the word "mandatory" means, but that is not necessarily true unless there is an obligation in the purchase agreement to lease it back. Otherwise, it is your home to lease or not lease, as you see fit.

If they refuse to close because you are not required to lease it back then they are in breach and you can sue.

Expert:  Loren replied 1 month ago.

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Loren