Hey, I want my deposit back!
December 23, 2008To would-be condo purchasers in Miami, sorry, the developer gets to keep your deposit. An article published yesterday cites cases where condo speculators in Florida put deposits on condominiums, but out of fear of losing money, rescinded their sales contracts. The earnest money deposits were kept by the developers, and a battle over the money ensued. The developers came out on top, with the court ruling that they were under no obligation to return the money.
Click HERE to read the full article.
I'll take my condo with a side order of speculation, please. Photo by Chris Dahlen
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