Can the developer Close To Sue Me? Some specific thoughts about specific performance

A question I often by people who has a contract for residential real estate in Florida, have signed as a condominium, whether they are in danger, in an action against the developer in case (they are not exposed or not) show for the closing . In general, the answer to this question is not necessarily a simple "yes" or "no", but there are some important principles of Florida law to consider, as a way to anticipate what might happen if aBuyers are not close:

1. Many purchase agreements provide that the seller is entitled to a specific amount of damages as the sole and exclusive remedy should not include the buyer default, ie. The available liquidated damages are usually expressed as a percentage or the entire amount of the deposits were paid by the buyer. If the contract provides an exclusive liquidated damages clause, the developer is precluded from being eligible for the special performance of the contract orany other remedy for that matter. See Hatcher v. Panama City Nursing Center, Inc., 461 So. 2d 288 (Florida 1 DCA 1985).

2. It is important to note that certain features, which - that a party is compelled by court order, go through the terms of a contract means - is itself an extraordinary means. A court put it, "specific performance of a contract for sale of land will only be prescribed if the contract of mutually with the results that can be enforcedis just and practicable, is the moving party is not guilty of Laches and there are countervailing measures equity against him, and there are insufficient resources available right at him. "Hembree v. Bradley, 528 So. 2d 116, 117-18 (DCA Florida 1 added 1988) (emphasis added). Consequently, if the seller is in fact an adequate remedy at law under the contract, then specific performance should not available. For example, if the contract allows the seller to collect liquidated damages in the event of the buyerViolation, then there is a sound basis for finding that certain work is not available because the liquidated damages provision is an "adequate remedy at law" offers to the seller - even if the liquidated damages clause is not "exclusive", as described above in paragraph 1

3. Purchaser may provide an additional protection for certain services, especially given the current state of education and training in the housing market, where mortgage financing could be difficult or impossible toto obtain. (See, for example, the "black list" by some banks for Miami condo projects for which the banks are not willing to extend financing.) Castigliano v. O'Connor, 911 So. 2d 145 (Florida 3d DCA 2005) dealt with a somewhat confused by the facts that go down and purchase a condo buyer, the seller's specific performance, ie, require the seller, searched through the process of closing. The court noted that "[a specific performance s] a fairRemedy this situation, should the buyer be prepared to demonstrate that it has not enforced unjust or oppressive to the seller, the agreement, "stated and that the standards were not met because" the purchasers have failed to show that A decree of specific performance would not close the seller's obligation to the extraordinary effort and expenditure on the purchase to make. "According to seem the same reasoning would prevent a developer from obtaining specific performance against the buyer who is notlonger able to obtain a mortgage for the purchase of real estate and would be forced to bring money through alternative means of closure. And this reasoning would apply even in cases where the contract left open, or is expressly provided, the remedy of specific performance.

Under the foregoing principles of Florida law, an attempt by a developer to a buyer in an effort to be channeled through liquidated damages provision in the contract will usually refer toshaky ground, especially if the developer makes specific performance claim. This does not apply, however, mean that a developer can use the threat of searching for specific performance as a tactic to force the buyer to close. But whether such a threat is credible and ultimately win the day in court depends on the facts and law.

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