Important things to know about condominium documents and real estate contracts.

Important things to know about condominium documents and real estate contracts.

Did you know the buyer has three days to cancel a contract on a condominium? Under Florida law, a buyer can cancel the transaction within three business days from the day of executing the contract and receiving the current condominium document from the seller. And the condo document includes the declaration of condominium, the article of incorporation, the condo bylaws rules of the association, the most recent year's financial information, frequently asked questions and answer documents. And this three-day period is calculated in business days, excluding the holidays and the weekends, and it cannot be amended.

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