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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 118773
Experience:  Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
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I bought a house in Palm Harbor, Florida which is to close

Customer Question

I bought a house in Palm Harbor, Florida which is to close this friday. However I have not reviewed any hoa docs and its on a golf course. Can I cancel my contract with out loosing my EMD. All i was told was i need to pick a package but none have been provided... What recourse do I have to withdraw this contract and not loose my down payment. It is a bank foreclosure.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 1 year ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Your agreement to purchase was subject to full disclosure of the terms of the sale and the property. If the bank has not provided full disclosure, you must first demand the disclosure from them regarding both the HOA bylaws and golf course requirements and if they refuse to provide those, then they are in breach of the contract and that is a basis for demanding a refund of your escrow and canceling the agreement. If you do not take these steps to obtain the necessary information and simply cancel the contract without giving the seller chance to cure the disclosure issues then they can claim the termination was your fault and as such you would not recover your escrow.

If upon reviewing the bylaws and rules you find they are unreasonable and do not agree to them, then you have grounds to cancel the contract based on those grounds and seek return of the escrow.