I'm currently in a contract with a condo developer in Los Angeles for a presale condo unit and would like to get out of the contract and get my full deposit back without any penalties. The condo has not yet been completed and looks to be delayed. My contract says that the developer can keep up to 3% of the purchase price out of my 5% deposit. However, my understanding of CA real estate law is that the seller cannot take any money from the home buyer until the property has actually been completed and certified to be ready for occupancy, which pretty much negates the 3% clause in the contract. Can anyone confirm this and if so, also refer me to any written literature that shows this to be true?