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We signed an agreement with a 55 and over builder and put…

Customer Question
We signed an agreement...

We signed an agreement with a 55 and over builder and put money down. We had second thoughts and asked to terminate agreement and refund our down 2 days later.

Lawyer's Assistant: Where is the property located?

Bradenton Florida

Lawyer's Assistant: Has any paperwork been filed?

Signed agreement but no permits taken out. Not sure what filed means

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Does florida have a law theat a buyer has so many days to terminate agreements. We felt rushed and pressured

Submitted: 11 months ago.Category: Real Estate Law
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Answered in 14 minutes by:
9/6/2017
Real Estate Lawyer: Barrister, Lawyer replied 11 months ago
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 43,063
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

Unfortunately, there is no right of rescission in a building contract unless it specifically states so in the contract. So if it doesn't have anything in it giving you X days to change your mind, getting cold feet about the purchase wouldn't give you a legal ground to get out of the contract.

.

However, if you terminated quickly, before the builder actually did anything or incurred any expenses, you could then try to sue for a return of the deposit and argue that since he suffered no damages, he shouldn't be entitled to retain your deposit.

.

But the contract will usually control what happens in the event of a default on either side and it normally says that the builder just keeps your deposit.

.

However, builders don't like to be sued and if you had a local attorney send a letter threatening to do so, they might negotiate a settlement where they refunded a portion of the deposit to you rather than get dragged into courtl.

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Barrister, Lawyer replied 11 months ago

Hello again,

.

I just wanted to touch base with you and check in.

.

Did you have any further questions I can help with?

.

.

Thanks much

Barrister

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