Coconut Grove Townhouse Dispute Tests Real Estate Contract Law

Real Estate Litigation And Property Defects

In a contentious Miami-Dade Circuit Court case, the fate of townhouses in Coconut Grove built by developer Doug Cox is being fiercely debated. Our Miami, FL real estate litigation lawyer can attest that buyers and creditors are entangled in a complex dispute over whether to sell the properties at current market prices despite defects or to honor contracts signed since 2018. Marko Cerenko, representing the buyers, argues that the properties should be sold to the original buyers or at a discounted rate. However, Alan Fine, the court-appointed receiver, contends that due to multiple contracts on the same properties and significant financial obligations, the best course is to sell at top prices to repay debts. Attorney Perez Mayoral has worked with many unique and difficult cases and has a background representing homeowners’ associations as well as businesses in complex litigations.

Cox, known as the “King of Coconut Grove,” is accused of fraudulent practices, including signing multiple contracts and delaying closings while collecting deposits, resulting in $40 million owed to buyers, investors, and lenders. Fine’s investigation revealed minimal remaining funds in Cox’s accounts. Despite the townhouses lacking certificates of occupancy and ongoing issues with custom glass railings and pool wiring, Fine has listed them for sale at significantly increased prices to maximize recovery for creditors.

Original buyers, who have faced years of delays, legal fees, and other costs, feel sidelined as secured creditors like Phillip Sylvester, Cox’s former partner, who has heavily financed the project, stand to benefit from the sales. Fine seeks court approval to proceed with sales, arguing that it’s necessary to resolve the financial quagmire. Critics argue that the process favors lenders over buyers, who demand a fair chance to purchase their contracted homes or receive compensation for their losses. Mediation has been proposed as a potential resolution to the ongoing dispute.

Guidance On Managing Property Defects

When you discover defects in a newly purchased property, the experience can be frustrating and overwhelming. This is where a skilled real estate litigation lawyer can provide invaluable assistance. At Perez Mayoral, P.A., we specialize in protecting your rights and ensuring you get the resolution you deserve.

Comprehensive Legal Analysis

A real estate litigation lawyer will thoroughly assess your situation, examining all relevant documents, contracts, and disclosures. By identifying any breaches of contract or misrepresentations, we can determine the best legal strategy for addressing the defects. This meticulous approach ensures that all avenues for recourse are considered.

Negotiation And Mediation

Engaging a real estate litigation lawyer means having a dedicated advocate who can negotiate with the seller or their representatives. Our team strives to reach amicable solutions through mediation, aiming to avoid lengthy and costly court battles. We work diligently to secure repairs, compensation, or other appropriate remedies for the defects in your property.

Litigation Support

Should negotiations fail, our experienced attorneys are prepared to take your case to court. We will build a strong case, presenting compelling evidence and arguments to protect your investment. Our goal is to hold the responsible parties accountable and ensure that you receive fair treatment under the law.

Personalized Client Care

We understand that dealing with property defects is a stressful experience. We are committed to providing personalized and attentive service, guiding you through each step of the legal process. Our priority is to alleviate your burden and achieve the best possible outcome for your case. Attorney Fernando Prego began his legal career in 2006 and has helped many clients in tough real estate situations. If you are facing issues with property defects, don’t navigate this challenging situation alone. Contact Perez Mayoral, P.A. today, and let us provide the legal support you need to protect your home and investment.