Quote:
Originally Posted by Bonanza
Your post is not clear. Exactly what are you talking about when you mention "unsavory practices?" Unsavory meaning illegal? Elaborate, please.
First of all, we aren't speaking about New York; we're talking about Florida. Stay on topic.
Florida recognizes the right of recision of any type of property? Sorry -- not so! If you have backed out of two purchases of a home within the seven day period you mentioned, I assume the form of ownership was a condominium, the sellers were being very nice or a clause was written into the contract.
I have been in real estate 30 years and I don't know of any Florida law that recognizes any of the laws of New York State. I'd have to see that in writing as opposed to your word of mouth.
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The right of recision statute given to NY residents goes back to the days when unsavory people in Florida were selling swampland to unsophisticated northerners. Although this business practice may no longer be happening the statue remains in place. We were made aware of this from our Villages REA who actually encouraged us to use it to our benefit twice. We allowed our 7 days to pass on the third contract and went to closing on our designer in The Villlage of Lake Deaton 23 days later.