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?
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