Developers Responsibility RE Sinkhole Disclosure
 

We put a deposit on a lot in Sanibel in Sept 2011 and are scheduled to start our build in early Sept 2012.

When we signed our agreement for the lot there was no information about sinkholes in the area as it was new.

Last week a large sinkhole opened up on the lot next to ours.

What is the Delelopers responsibility regarding disclosing this info and any new options to us?

Could we withdraw our offer based on this new information?

Thanks

This is a very fact specific question, the answer to which is probably in your contract. I would need to review your contract in order to answer your question. Please contact my office at (352) 365-2262 to schedule an appointment. It would be helpful for you to provide me with a copy of the contract for my review prior to the meeting.