Distressed Condo Relief Act

By
Services for Real Estate Pros with Scanlon Signing Services
Florida Distressed Condo Relief Act

    The "Distressed Condo Relief Act" (DCRA) in SB 1196 was put in place to encourage investors to buy unsold developer inventory. This should help stabilize the condo market. It also protects the lender if the developer defaults.   If the provision becomes law it will only apply to purchases that take place before the law sunsets on July 1, 2012.  

 

Here is a link to SB 1196       http://flsenate.gov/data/sessions/2010/senate/bills/billtext/pdf/s1
96er.pdf    

Sincerely,

Lisa Scanlon, CSA

941-447-7130 www.scanlonsigningservices.com

 

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