How do I cancel a real estate contract in Florida?

Canceling a real estate contract is known as “rescission.” In some cases, the contract may describe the exact circumstances that allow for rescission. If rescission is not excluded in the terms of the contract, you may be able to get out of a real estate contract through rescission because:

• You were a victim of real estate fraud.
• There is a title defect that cannot be remedied.
• Due to a mistake, you were not made aware of the details of the contract before it was signed.
• You were sold a landlocked property, and the seller cannot provide you with legal access to the property.

You must go to court to have a contract rescinded. The Court will only agree if neither the seller nor the buyer will suffer loss as a result of the rescission. For example, any earnest money deposited prior to the sale should be refunded before going to court.