Q: Is there a Florida law that requires Developers build new homes within a period of 2 yrs from the date of the contract?
We are in the process of buying a new home in Bonita Springs, FL. In the Agreement of Sales it is stated that "Seller agrees to complete the construction of the property within a period of 2 years from the date this agreement is signed by buyer". However, we were promised that the home will be completed in 7 months. When we questioned the 2 years, the Sales Manager told us that there is nothing we can do about that because it is a state law. Now, we are asking if the Developer can add a Rider to the contract stating that it will be completed in 7 months. We have not signed the agreement yet. Thanks!
A: It is very doubtful that state law requires that the seller be given 2 years in which to complete, if that's what you are asking. There may be language in the construction financing or the subdivision covenants bearing on this issue, but you can certainly ask for the rider (or simply that the text of the contract be modified). to require completion within 7 months.
A:
There is a two year rule - but it says that the house must be completed within two years - not longer. If you want a contract to day delivery will be in 7 months then there is no legal reason why this cannot be put in the contract.
The specific law is the Federal Interstate Land Sales Act.
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