Breech of Contract or Not?

[The Greek]

What is the name of your state? Virginia

About 6 months ago I was approached by a "builder", whom has been buying up all the houses in my neighborhood. I entered a contract with him that would allow him to buy my house for a 3 month period, for a small non-refundable deposit.
In the contract it states that he MUST give me his "intent" to purchase or not to purchase in "no less than 30 days" prior to the agreed upon settlement date. The settlement date is also listed as the "ending" date to the contract. If the builder contacts me with his intent to purchase with only 29 days notification. Does he breech the contract? If not, what is it and what choices do I have, legally?

 

[seniorjudge]

What is the name of your state? Virginia

About 6 months ago I was approached by a "builder", whom has been buying up all the houses in my neighborhood. I entered a contract with him that would allow him to buy my house for a 3 month period, for a small non-refundable deposit.
In the contract it states that he MUST give me his "intent" to purchase or not to purchase in "no less than 30 days" prior to the agreed upon settlement date. The settlement date is also listed as the "ending" date to the contract. If the builder contacts me with his intent to purchase with only 29 days notification. Does he breech the contract? If not, what is it and what choices do I have, legally?

If you signed this 6 months ago and it allowed him to buy for a 3 month period, then I believe the deal expired several weeks ago.

 

[The Greek]

If you signed this 6 months ago and it allowed him to buy for a 3 month period, then I believe the deal expired several weeks ago.

No it has not expired yet. A better explaination could be: 6 months ago we agreed that he could purchase the house from March 1st to May 30th. May 30th being the settlement date. Meaning that he would have to give me his intent to settle by April 30th, to give me the required 30 days notice.

So has he breeched the contract? He cannot give me 30 days notice for intent to settle if that is just a few days away?

 

[seniorjudge]

No it has not expired yet. A better explaination could be: 6 months ago we agreed that he could purchase the house from March 1st to May 30th. May 30th being the settlement date. Meaning that he would have to give me his intent to settle by April 30th, to give me the required 30 days notice.

So has he breeched the contract? He cannot give me 30 days notice for intent to settle if that is just a few days away?

I don't think he has breached it; I think it is an option that has expired.

But, then again, I have not read the document.

 

[The Greek]

I don't think he has breached it; I think it is an option that has expired.

But, then again, I have not read the document.

I am only going to post the section that pertains to this:

Settlement: Purchaser makes it know that he desires to employ "title company" as Settlement Agent. Seller and Purchaser agree to make full settlement in accordance with the terms hereof on or before no later than 5/30/05 with no less than 30 days notice to Seller of Purchaser's intent to settle, at the Settlement Agent's Office. TIME IS OF THE ESSENCE AS TO ALL DATES AND TIME FRAMES REFERENCED HEREIN.

 

[The Greek]

The answer is ....."Breeched"

I am only going to post the section that pertains to this:

Settlement: Purchaser makes it know that he desires to employ "title company" as Settlement Agent. Seller and Purchaser agree to make full settlement in accordance with the terms hereof on or before no later than 5/30/05 with no less than 30 days notice to Seller of Purchaser's intent to settle, at the Settlement Agent's Office. TIME IS OF THE ESSENCE AS TO ALL DATES AND TIME FRAMES REFERENCED HEREIN.

This contract is breeched by the builder.