Construction Delays

[deedem23]

What is the name of your state?North Carolina

I closed on my construction loan in May. The house was suppose to be finished by Christmas. It is not even closed in yet. The contract states builder has until February to finish. I do not foresee the house being done in time. What are my legal options if the house is not completed??? No work has been done in the last month and only two draws have been taken on the construction loan to date. Do I have any legal recourse now or do I just have to patiently wait until February???

 

[chucky99]

I'm not a lawyer, but if your contract says the builder has until February, then there's nothing you can do until February. Except call the builder daily to check on progress, and hope they get moving.