Checking out the stagnant Miami condo market I came across an entertaining read from The Wall Street Journal.
There are now around 50,000 units in inventory down there and a lot of unhappy buyers who will do just about anything to get out of their contracts as cheaply as possible.
That means lawsuits.
These lawsuits are being closely monitored by lawyers across the country to see exactly what works and what doesn’t work for a contract escape.
One interesting Miami condo lawsuit just occurred over the wording for the Opera Tower’s brochure which was advertising an "Olympic style" swimming pool.
The plaintiffs were challenging exactly what "Olympic style" means but the lawsuit was dismissed because apparently it means there are lanes in the pool. Perfect for racing, I suppose.
For more info about the Miami condo market go to Condo buyers in Florida Seek to Exit Deals