Legal FAQ's
Condominium
Q: I represent a buyer who entered into a contract to purchase a residential condominium. The contract includes Section 718.503 (2)'s statutorily required language giving the buyer three days after execution of the contract and receipt by the buyer of the condominium documents to cancel. It has been two weeks since the parties entered into the contract, and the seller has yet to provide the condo documents to the buyer. Now the seller wants the buyer to sign an addendum which says the buyer will only have 24 hours from receipt of the documents to cancel. If the buyer signs this amendment, would it be valid and enforceable?
A: No. The disclosure language set forth in Section 718.503(2) provides “any purported waiver of these voidability rights shall be of no effect.” Therefore, an amendment to a contract where the parties presumably agreed to resolve the time period the buyer has to cancel from the three day period outlined in the statute to 24 hours would not be enforceable.
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