Please Help! Getting a deposit back from a property investment in florida?
In September last year, my partner and I went to Florida to look at property to invest in. We went with a international realty company who set us up to meet developers, mortgage advisor and a management company.The plan was to rent it out as soon as possible and in later years to sell.
We found the perfect property and signed a contract with the developer who was aware we were applying for a mortgage in america and said if there was any problem with this we could pull out.
We came up with the 30% (as this was needed to apply for the mortgage) straight away. But as the months went on, we were applying to so may different mortgage schemes with no luck. It was dragging out to long and we were already paying a mortgage on the 30% we decided we had to pull out and get our money back. We have contacted the realty company and the developers but they are very unhelpful, it seems we can only contact them through emails and they haven’t given us any idea if and when we will get our money back. it has been dragging out for such a long time we are begiining to worry.
So if anyone has any advice on what we should do? We are beside ourselves with worry as the developer has been no help what so ever.
Thank you for reading.
yes there was a contract. we have read it over and over and can’t make heads or tails. i don’t think it mentions anything about our deposit. We paid an initial deposit of 00 which we don’t expect to get back but we want the 30% back because it is quite a sum of money.
Did you sign a contract with them?. What does it say in the details?. I bought a property in Mexico too but pay very little in down payment & later I pulled out. Lost $700.
Again, it was a low investment, without going into too many details.
You might have to go thru a lawyer or contact the Better Business Bureau for the State of Florida. They are a government agency, very slow but hopefully can assist you.