SARASOTA, Fla., Dec. 20, 2016 /PRNewswire/ -- Last week, PropLogix went on the offensive by filing suit against the Villas of Emerald Lake Condominium Association when the association refused to reimburse PropLogix for a $250 estoppel fee on a transaction that never closed.
Per Sections 718.116(8)(d) and 720.30851(3), Florida Statutes, Condominium and Homeowners' Associations, respectively, are required to reimburse expenses related to an estoppel if a deal doesn't close.
"It's bad enough that these associations charge hundreds of dollars to provide a simple report, but we refuse to let them ignore the law and retain fees they're obligated to refund," said PropLogix CEO, Tim Healy. "It has always been our goal to protect buyers, sellers, and title agents, and this is just another way we are working to achieve this goal."
PropLogix (www.proplogix.com) performs services that provide clarity and peace of mind to all parties involved in the real estate transaction--from contract, to closing, and beyond.
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