Lennar Contracts and Cancellation

Start Before You Contact or Register

Talk with Roland before a form, call, chat, visit, hold, deposit, option choice, or online signing.

The Lennar sales representative works for Lennar. Early buyer-agent help can organize questions. It does not replace a Florida attorney.

The Exact Signed Contract Controls

A brochure, model-home conversation, email, text, or website page does not replace the written agreement.

Ask for the full draft package before signing. Read every paper that becomes part of the deal.

• Purchase contract
• All addenda and exhibits
• Community and property disclosures
• Deposit schedule
• Financing and incentive terms
• Plans, options, and change orders
• Completion and closing terms
• Inspection and walk-through terms
• Cancellation, default, and dispute clauses
• Terms that survive closing

One Deal May Have Several Deposits

Do not treat every payment as the same deposit.

• Hold payment: may hold a home or homesite under stated terms.
• First contract deposit: may be due when the agreement is signed.
• Later deposit: may be due later in the build or approval process.
• Option deposit: may relate to selections or upgrades.
• Homesite premium: may have separate payment terms.
• Closing funds: are separate from earlier deposits.

For each payment, check the amount, due date, payee, holder, closing credit, refund rule, and request steps.

Lennar says earnest money is often not refundable after signing unless the agreement says it is. The exact draft still controls.

Cancellation Rights Are Not One Universal Rule

Florida does not give every new-home buyer one broad cooling-off period.

A right may come from a contract clause, loan term, disclosure, title issue, builder default, loss, or another law.

• Which property type is involved?
• Which document creates the right?
• When did the buyer receive that document?
• What deadline applies?
• How must notice be delivered?
• Was the right changed, waived, or allowed to expire?
• What happens to each deposit?

Some Florida condo and HOA disclosure laws can create a right in certain facts. They are not a broad buyer escape clause.

Loan and Appraisal Need Separate Review

Loan trouble does not cancel the purchase contract by itself.

• Prequalification: an early estimate, not final approval.
• Approval with terms: still depends on stated conditions.
• Final loan approval: is a lender decision, not a contract cancellation decision.
• Appraisal: gives a value opinion for its assignment. It does not create a right by itself.
• Loan contingency: works only as the exact contract states.
• Rate lock: may expire or cost money to extend if closing moves.

The lender explains the loan. A Florida attorney says whether the contract gives a right to cancel or get a refund.

Preferred-Lender and Incentive Terms Have Rules

An ad credit is not free money. It may not fit every home or loan.

Lennar says some offers apply only to select homes. Sign dates, close dates, loan approval, and affiliate use may matter.

• Home and community eligibility
• Contract and closing deadlines
• Required lender, title, or insurance affiliate
• Loan type and borrower approval
• Rate, APR, points, and fees
• Temporary and permanent payment
• Cash to close
• Whether the offer may change or end

Compare the full loan and closing package. Do not judge an offer by its headline.

A Build Date Estimate Is Not Always a Promise

A sales estimate, close date, occupancy approval, and closing notice can mean different things.

• Who decides the home is ready?
• Which public approvals are required?
• How much closing notice is given?
• Which events may extend the schedule?
• Can the buyer extend?
• What happens to the rate lock?
• What happens to rent, storage, travel, or moving plans?
• Does an outside date exist?

Ask the lender about loan effects. Ask a Florida attorney about delay, more time, a right to cancel, or a refund.

Aha Moment

The home and price are only part of the decision.

The contract can make deposits, loan dates, closing notice, a right to cancel, and default remedies just as important.

Inspection, Orientation, Walk-Through, Repair, and Warranty Are Different

Each step has its own purpose and may have its own date.

• Independent inspection: reviews accessible conditions within the inspector’s scope.
• Builder walk-through: explains the home and builder process.
• Final walk-through: checks near-closing condition and stated work.
• Repair list: records observed items and responses.
• Warranty claim: follows the post-closing warranty terms.

Do not assume every finding delays closing or must be fixed the buyer’s way. Check the written rights.

Options, Change Orders, and Substitutions

A choice or upgrade may affect price, deposit, timing, the loan, and a right to cancel.

• What is included in the base price?
• Which choice needs a separate addendum?
• When does the choice become final?
• What deposit is due?
• Can the builder substitute a material or product?
• How is a price or schedule change approved?
• What happens if financing no longer works?

Default, Loss, and Dispute Terms Need Legal Review

Do not guess a deposit result or legal remedy from a summary.

• Buyer default
• Builder default
• Deposit retention or return
• Liquidated damages
• Specific performance
• Mediation or arbitration
• Venue and governing law
• Attorney-fee provisions
• Notice and cure periods

Build One Complete Review File

Keep the contract, money records, key dates, and written statements together.

• Proposed contract and every addendum
• Community and property disclosures
• Plans, elevation, specifications, and options
• Deposit and escrow instructions
• Financing and incentive addenda
• Appraisal and closing provisions
• Inspection and walk-through terms
• Warranty documents
• Title, lender, and insurance records
• Attorney notes and deadline calendar
• Proof of every notice and payment
• Written registration and compensation confirmation

A Realistic Contract Example

This example is made up. It does not state a real Lennar term or result.

A buyer picks a home with a close date several months away. The buyer expects a loan and assumes the deposit returns if it fails.

Before signing, the buyer and the right experts check each deposit, loan date, appraisal term, and offer rule. They also check closing notice, inspection rights, default remedies, and notice steps.

The result depends on the exact contract. The buyer does not rely on a sales estimate or a website summary.

Questions for the Right Experts

Ask Lennar or the Builder Representative

• Which exact contract and addenda apply?
• What deposits are required, and where are they held?
• What written refund or nonrefund terms apply?
• What financing and incentive deadlines apply?
• How is estimated completion described?
• What inspection and walk-through rights are written?
• Who can provide every term before signing?

Ask the Buyer’s Agent

• What should I do before registering or visiting?
• Which documents and deadlines should I organize?
• Which claims need proof in writing?
• Which issues must go to a Florida attorney?

Ask a Florida Attorney

• What documents form the full contract?
• Are any deposits refundable?
• What loan or appraisal protection exists?
• What cancellation rights and notice rules apply?
• What happens after buyer or builder default?
• What dispute, venue, and attorney-fee clauses apply?
• Which terms survive closing?

Ask the Lender, Inspector, and Closing Professional

• Can the lender meet every contract deadline?
• What happens if the rate lock expires?
• Which inspections and access windows are allowed?
• Who holds each deposit?
• Which title, escrow, and closing papers will be issued?

Your Calm Next Step

Pause before you register, pay, or sign.

Ask for the full written package. Let Roland sort the questions. Let the attorney, lender, inspector, and closing expert answer within their roles.