Florida offers some of the most beautiful real estate in the country. Sandy beaches with ocean views, big city condos with all the amenities — you name it, you can probably find it Florida.
But what happens if you find that perfect property, get an offer accepted and find yourself in a dispute with the seller? There are generally two legal remedies to pursue in these types of real estate disputes:
- Performance. One option is to demand performance of the contract. If successful, this would result in a legal requirement the seller follow the expectations listed in the agreed upon contract. This is also referred to as compelling the other party to follow the contract. However, it is important to note that this type of legal remedy can come with a serious drawback involving the potential for a title issue. We will address the details of this risk in more detail in our next post.
- Payment. Another option involves a financial punishment. You can demand payment in exchange for a failure of the seller to meet the agreed upon terms.
It is important to note that state law generally bars these remedies with a statute of limitations. Time limits are present on these claims. In most cases, these claims must be filed within a year of the offense.
If you find yourself in a real estate dispute such as this, it is wise to act to protect your investment. An attorney experienced in the niche area of Florida real estate law can help.