FL condo investors turn to courts to break contracts

Florida investors are turning to court to cancel their condo contracts and get their deposits back. Many of the investors were looking to flip condos quickly for a profit, and a recent series of legal decisions show it won’t be easy to back out of deals. Florida courts say unless it’s a bona fide contract dispute, the investor’s chances of winning will be slim. Condo prices in Florida are down 22 percent since 2005, according to the Florida Association of Realtors.