Overview
| Market Position | Florida's largest privately-held homebuilder |
| Type | Private (subsidiary of Intervest Construction, Inc.) |
| Headquarters | Daytona Beach, Florida |
| Founded | 1980 |
| Parent Company | Intervest Construction, Inc. |
| Affiliated Lender | None identified |
| Annual Closings | Approximately 1,000–1,500 homes |
| Brands | ICI Homes |
ICI Homes, a subsidiary of Intervest Construction, Inc., is the largest privately-held homebuilder in Florida. Founded in 1980 and headquartered in Daytona Beach, the company builds single-family homes and master-planned communities across the state, from Jacksonville to Tampa and throughout Central Florida.
As a private company, ICI Homes does not file public financial disclosures. Information about the builder's purchase agreements and contract terms is documented through state-level litigation records, regulatory filings, and buyer-reported experiences. The company's operations are concentrated exclusively in Florida.
Documented Contract Patterns
The following patterns have been documented in ICI Homes purchase agreements. Not every contract contains every clause, and language varies by state and community.
Mandatory Binding Arbitration
Disputes must go to private arbitration instead of court. Buyers lose their right to a jury trial and in many cases the ability to appeal an unfavorable decision.
Class Action Lawsuit Waiver
Buyers waive the right to join or participate in class action lawsuits against the builder, forcing individual claims.
Deposit Forfeiture / Earnest Money Trap
The contract may allow the builder to retain the buyer's earnest money deposit if the buyer cancels for reasons not explicitly covered by the agreement.
Implied Warranty of Habitability Waiver
The contract may ask buyers to waive their legal right to a home that meets basic livability standards.
Daily Closing Penalty
If the buyer cannot close by the specified date, the contract imposes per-day financial penalties.
Independent Inspection Restriction
The contract limits when, how, or whether the buyer can hire an independent home inspector.
Material Substitution at Builder's Discretion
The builder reserves the right to substitute materials with alternatives deemed substantially equivalent.
Restrictive Limited Warranty Exclusions
The builder's warranty contains extensive exclusion lists that carve out common defect categories.
Legal History
Selected cases and investigations involving ICI Homes construction quality, contract enforcement, and lending practices.
ICI Homes Construction Defect Claims (Florida)
Homeowners in ICI Homes communities have pursued construction defect claims under Florida's Right to Repair Act (Fla. Stat. Chapter 558). Florida's statutory framework requires a 60-day written notice and opportunity to repair before litigation.
ICI Homes Right to Repair Act Disputes (Florida)
Court records document disputes involving ICI Homes and Florida's Right to Repair Act process. These cases involve allegations regarding the adequacy of the builder's repair responses under the statutory notice-and-cure framework.
What Buyers Should Know
- Review the arbitration clause carefully. ICI Homes contracts may include mandatory arbitration provisions. Understand that signing means waiving your right to a jury trial.
- Hire an independent home inspector. Request access at pre-drywall, pre-closing, and final walkthrough stages regardless of contract restrictions.
- Understand Florida's Right to Repair Act requirements. Florida law requires a 60-day written notice to the builder before filing a construction defect lawsuit. Know the statutory process before issues arise.
- Research the community's HOA terms. ICI Homes develops master-planned communities with HOA governance. Review HOA documents alongside the purchase agreement.
- Consider a professional contract review. An independent review can identify clauses that limit your remedies or waive rights you may not realize you have.
Detailed Clause Analysis
Deep-dive analysis of how ICI Homes uses specific contract clauses:
State-Specific Guides
See how ICI Homes's contract patterns interact with the laws in your state: