After 3 years of keeping our personal deposit on a townhome in Regal Oaks the management has decided not to return our deposit money.  We had 8 contracts with clients for townhomes in this complex and after multiple delays in construction we asked for our deposit return.  By Florida law, if construction has not started within 2 years of contract signing the builder must return the deposit if requested.

We signed an agreement to have our deposit returned at the 2 year anniversary date of the contract signing (August 2005) if the unit was resold or April 2008 if not.

After the passing of April and numerous requests for our deposit return we received a letter stating that they will not be returning our deposits and, if we tried to sue them, we would not get our money for a long time and the company may go bankrupt.  Of course, in the same letter, they encourage you to buy at Regal Oaks.  They have continued to sell the properties, they continue to profit from selling the properties but they refuse to return the deposits of the buyers who supported them in the beginning development of Regal Oaks.

The letter from Superior Homes, the builders and developers of Regal Oaks can be found at the following link.

If you are also having problems receiving your deposit from Regal Oaks we would be interested in hearing your story.  Please email me with information.