condo builder trying to scam me?

[Kayteegirl]

wondering if I have a case to sue. I contracted on a new condo unit May 99 to be closed on July 99, it is still not completed and interests rates have risen dramatically, plus I have incurred many costs moving around so much since I sold my previous home in July 99 expecting to move into this new condo. do I have any recourse against the builder?

 

[Tracey]

Read your purchase agreement. It probably contains a clause telling you how to terminate the agreement for breach by the contractor. Exercise it. You should get your earnest money back with interest. However, you may not be able to get consequential damages (moving expenses).

If you still want the condo, you might terminate the old purchase contract and execute a new one, with a reduced price to cover your expenses or a term specifying that the contractor has to pay you damages if your mortgage goes above a certain rate.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.