[Bonanza]

Originally Posted by RickeyD

Your statement is untrue. Many states including NewYork protect their residents from the unsavory practices of out of state real estate transactions. New York residents that purchase ANY new real estate whether it be developed or raw land have a seven day right of recision. Florida recognizes this right and requires sellers to abide. How do I know this ? We exercised this right two times before we finally went to contract with the developer on a new house.

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.

Originally Posted by RickeyD

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.

First you said that this New York law was a right and in your subsequent post, you said it was a statute (I assume you meant statute, not statue). That being the case, all statutes have a number. What is the number of this statute to which you refer?

I reiterate -- there is no such law, hence, no such statute. Your Villages agent gave you bad information. The only (other) thing it can be is something that is strictly a Villages thing.