Builder wants to accelerate closing date

What is the name of your state? GA

I entered into a Purchase Agreement for a townhome under construction in early June. At that point, the builder indicated the home would be ready mid-November, so we set a closing date of November 19 (even though a later date would have suited me better). In the contract, it states this is "an estimated closing date, the home will close upon substantial completion on or around that date, and actual closing date will be determined at time of dry wall."

Given those comments, I do understand the closing date is not set on 11/19, but can be moved. My question is, can the builder/seller FORCE me to close on a home a month earlier (I do not interpret this as on or around 11/19) if it will create a heavy financial burden for me? Please advise.

[JETX]

Originally Posted by gatrjeny

Given those comments, I do understand the closing date is not set on 11/19, but can be moved. My question is, can the builder/seller FORCE me to close on a home a month earlier (I do not interpret this as on or around 11/19) if it will create a heavy financial burden for me? Please advise.

Simple answer, yes. The agreement gives the builder to set the actual closing date "at time of dry wall." At that time, he will be able to set a more firm closing date and yes, it could be moved forward..... or backward.

[HomeGuru]

I agree with JETX. Nest time all that would be needed is a clause something to the effect of: it is agreed that closing will not occur before Nov. 19 under any circumstance.