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.
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