Preconstruction and Bankcrupcy

What is the name of your state? CALIFORNIA!

Hi!

I've made 2 payments on a preconstruction condo. %20 down payment. I recently got sued and I'm afraid this might end up being a pretty large amount. What if I go bankcrupt? What if I just dont pay the legal fees and ruin my credit this way. Would they have a way to get the %20 from the condo? My condo is in Florida. I live in CA and the lawsuit is in CA.

[HomeGuru]

Originally Posted by mike78

What is the name of your state? CALIFORNIA!

Hi!

I've made 2 payments on a preconstruction condo. %20 down payment. I recently got sued and I'm afraid this might end up being a pretty large amount. What if I go bankcrupt? What if I just dont pay the legal fees and ruin my credit this way. Would they have a way to get the %20 from the condo? My condo is in Florida. I live in CA and the lawsuit is in CA.

**A: yes, they would have a way. Remember the old saying "if there's a will, there's a way?" Well, I'm sure that the developer will have a will.