Trippps Investm...
Home Buyer
Port Orange, FL

I committed to purchase a pre construction condo in 2004. The building finished in June 2008. There are many complications with the building including the units being smaller then originally sold for. Consequently, many buyers in this market have filed suit to be let out from their commitment, the suits are pending. I received an offer for a percentage of sq ft reduction based on the original sale price. At the time I felt that was fair. An appraisal was conducted and it valued the property at close to $100,000 over sale price. As a public official I felt I could not sue and felt it best to honor my previous commitment. I closed on the unit, one of only four people. Within 30 days or less of closing the remaining units, 176, were priced reduced by $115,000 less than my closing price. What if any recourse do I have against the seller, their selling agent and the appraiser who missed the appraisal by only $215,000 dollars? The units are currently selling for $225,000.