The incident happened in a luxury high-rise overlooking the sea in a main street on the beach in South Florida. The complaint was that the buyer has signed a contract and paid the amount promised. Shortly after a few months and planned well before completion, the developer released the announcement of changes to the building. The most striking was the private elevator to the unit.
The developer has now announced that the private elevator to be shared between the twoApartments. The buyer wanted to cancel the contract and the debt money back, that the changes would significantly reduce the value brought you a dream of his unit in this ultra-luxury building, in this case because real estate. The developer does not agree to the buyer, stating that the proposed changes are neither material nor substantial, and thus permitted by the Treaty. There is no question of repayment of the large buyer.
Even two years ago,it would not have been a nuisance. The buyer would agree to changes in the heart in half, because his contract would be approximately $ 200,000 of profit to be only "throwing" one of the dozens of eager investors on a list means coming. Although for many people, this case is not a matter of fear but it is a very unusual situation, because the market has changed.
The judge ruled after hearing arguments from both sides to handle the case in another wayadvisor to the government to bring stability to the market at the state level. Not only the other cases here, but many are the result of volatile markets, where developers are not willing to find this waiting list and more investors are cautious on the market of tomorrow.
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