Pre-Construction Deposit Recovery
The Firm is currently accepting pre-construction condominium deposit disputes.
Please contact us if you are attempting to recover your pre-construction deposit.
Many of our clients have entered into preconstruction contracts for the purchase of condominiums and town-homes. Our Firm has devoted considerable time and resources to acquire foremost expertise in the specialized area of law of condominium deposit recovery. Our Firm has successfully handled cases involving over $20 million of condominium deposits in the aggregate resulting in the recovery of millions of dollars in preconstruction deposits to our clients. We continue to assist purchasers of preconstruction condominiums and houses in the recovery of their deposits by vigorously litigating these cases against developers on a state-wide basis. We consider each case based on the facts of the particular case and based on the agreement signed by the purchaser.
Developers often violate Florida or federal law in the registration, marketing and promotion of preconstruction real estate projects. For instance, developers (regardless of their size or sophistication) often:
- Violate the Federal Interstate Land Sales Full Disclosure Act (a law enacted by congress to eliminate fraud in transactions involving sales of land);
- Violate the Florida Condominium Act;
- Fail to complete construction of the project on time;
- Commit fraud and fraudulent inducement;
- Fail to require contract completion within two years where required to do so;
- Fail to timely notice a closing date;
- Make significant changes to the units or amenities that constitute changes that are material and adverse;
- Use contracts that fail to contain required consumer protection disclosures;
- Use contracts and offering documents at the time of contract signing that were later rejected by the state regulatory agency;
- Make materially false or misleading statements at the time the contract was signed;
- Published false or misleading information in their advertising or promotional materials;
- Disregard or overlook certain purchaser protection laws;
- Failed to construct amenities;
- Failure to conform the building or amenities to design specified in contract; and
- Improperly use purchaser escrow deposits.
These violations very often permit purchasers to cancel contracts and receive the return of his or her deposit money together with interest and attorneys’ fees.
It is important to note that both the state and federal statutes have statutes of limitations (timing deadlines to file a case), so it is critical that purchasers wishing to seek recovery of their deposits act immediately. It is also critical that those wishing to recover their deposits protect the portions of their deposits remaining in escrow by not ignoring closing letters and default letters from the developer. Instead, a lawyer should be retained to protect your right to your deposit as early as possible.
We have clients and cases against the following developments for the recovery of condominium deposits and many others:
200 East Palmetto Park
Reserve at Doral East
Reserve at Doral West
Sable Point @ Heron Bay
SB Fort Lauderdale (Trump)
Solaris @ Brickell Bay
Trump Tower (Sunny Isles)
Tuscany Preserve at Lake Marion
Two City Plaza
Vintage at Lighthouse Point
W South Beach
Contact us today for a free review of
your preconstruction contract.
> May 2012
> October 2011