Real Estate Flash with Barry Connerty
I spoke with with Ken Pazder of Pazder Law about issues when you are unable or unwilling to close on a Pre Sale that you bought earlier and have seen the value decline over the last 6 months.
If you have purchased on of these pre sales you should be looking into what your responsibility is. It is not just as easy as walking away from your deposit. The value of the property may have declined further than your deposit and if that is the case the developer may have the ability to come after you for the difference as well as any legal costs and any Real Estate commissions payed out.
If you have any questions regarding a pre sale agreement that you may have or any other questions give me a call or email me - firstname.lastname@example.org.
That's your Real Estate Flash.
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