Legal Question in Real Estate Law in Georgia

Builder cannot meet closing date

I have contracted with a development builder to build a stock plan. The closing date is only three weeks away. The real estate agent called today to say they cannot complete the house in time. (Delay of four more weeks.) It is possible for the builder to complete my house on time, provided they step up the pace. They�ve had a total of four months to complete the project.

My previous house sold early. We are now living in a temporary house with a fixed move out one week after closing. My pets are being kenneled at a cost of $33 a day. My belongings are stored for $150 a month. Overall my current expenditures exceed normal living conditions. I also have a mortgage rate that I don't want to lose (expires two weeks beyond the original close date).

The builder has already offered for us to back out of the deal, which we don't want to do. The builder increased his prices $10K after we contracted. It seems like they are trying to resell our house for more.

Can I force the builder to make concessions for the delays, compensate us for the extra expenses (beyond set closing date), or to bring on extra crews to meet the deadline?


Asked on 4/22/03, 8:49 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Builder cannot meet closing date

The answers to your questions all boil down to your contract with the builder. I highly recommend you contact a good real estate attorney in your area for advice. A reputable real estate company may be able to make a recommendation. With the amount of money involved in building a new house, you don't want to be penny wise and pound foolish.

Read more
Answered on 4/23/03, 6:29 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Georgia