If a buyer or seller defaults on a real estate contract in Florida, the non-defaulting party may have several legal remedies, including enforcing the contract, canceling the contract, or seeking damages. The specifics depend on the terms of the contract and the nature of the default. It’s important to note that the “As- is” and “standard” contract will have the specific terms for when a default occurs and what those remedies are when a default occurs. Misinterpreting the contract, or simply not understanding the contract can put you in a position where you can potentially lose a lot of money. Hiring a real estate attorney before you enter into a real estate contract will ensure that you are protecting your investment.