MIAMI—With South Florida's condo market kicking into high gearonce again, a new financing model is fueling development: largecash deposits paid by buyers up front. But as projects begin goingvertical, questions are being raised as to how this new model mayaffect development firms and their buyers, legally speaking.

We caught up with attorney Andrew C. Hall,founding partner of law firm Hall Lamb and Hall,to get his take on the issue. The bottom line: he believes this newformat creates liability for all parties involved in atransaction.

GlobeSt.com: South Florida was among the hardest hitreal estate markets in the country during the recession yet todaystands out for its record levels of new construction activity. Towhat degree is buyer-financed construction playing a role in thiscomeback?

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.