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Original closing very delayed

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finalee

Junior Member
What is the name of your state? NC
We signed a purchase offer with a builder and agent in October of 2004. The builder said at that time we would be able to close in April and indeed the contract states "All parties agree to execute any and all documents and papers necessary in connection with closing and transfer of title on or before Aprill 22, 2005 " We have not seen any progress on the house except that the lot has been cleared and the builder has the permits (received the end of January). He now states the house will not be completed until the end of June. This puts us in a real bind with where we are living now. We will also have to get another mortgage at a higher interest rate due to the delay. Do we have any legal recourse with the builder? He has not let us know about any delays either verbally or in writing.
Thanks for any insight
Finalee
 
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ajwch

Junior Member
We are in a similiar situation. If the builder is in breech of contract, he is liable for damages, such as alternate housing, storage, interest rate points, etc. It depends on your contract. Read it all the way through, carefully. Our contract states that the builder is not responsible for damages beyond the closing date if delayed for any reason. However, he only has 15 working days beyond the closing date to delay, so we will seek damages beyond those 15 days. Hope this helps a little...
 

JKeats

Junior Member
I live in Oregon and am currently in a similar situation. Our contract states a closing date of March 30th and while we knew there might be delays and were fine with extending the closing date if needed.

However, over the past 3 weeks we have seen virtually no progress made on the house despite amazing weather. The contractor is now telling us Mid-April for a completion date, which would be fine with us... but the site forman happen to let it slip that there's no way they'll be finished before mid-May.

A delay to May is going to put my loan lock in serious jeapordy. I'm likely going to seek compensation for a loan-lock extension, and am just doing my research now so I'm prepaired in the event it comes to that.

I'm currious ajwch, where did you find your information. I'd love to find something in writing that states that so I can use it if/when the time comes.

Thanks!
 

RNaval

Junior Member
I just posted a similar thread regarding the delays on my construction project. My builder is 8 months behind in completion. The house is only 75% completed. I also do not have a penalty clause in my contract.

I am thinking of sending a certified letter to the builder - so as to leave a papar trail in case I take him to court - asking him to complete a substantial amount of work by such and such date or else I will have another contractor finish the job and I will have the current builder responsible for all extra charges above and beyond my remaining payments of the contract.

This may pressure him to finish the job sooner. However, I need the advice of a senior legal advisor on this forum to be sure if this is the course of action I should take.

...RN
 

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