Legal Question in Business Law in Texas

Stuck in a Contract

I signed a contract almost 2 years ago with a developer to buy a residential lot. At that time he told me that it would be ready in 4-6 months. In addition to a deposit I gave him a fat advance payment as he promised me a 5% discount. It is now almost 2 years and he is still making excuses and not transferring the lot to me. I see others getting their lots and starting construction. The last time I spoke to him he said the city didn't give him approval to sell all lots. When I spoke to the city they said my lot was not part of the re-plat and there is no issue with it being transferred to me. The developer also told me that his bank told him not to close lots of those who gave a large deposit (i.e. close the ones with a small deposit first and then others with a large deposit). This sounds a bit too fishy. What options do I have? Thanks in advance!


Asked on 12/10/06, 9:36 am

1 Answer from Attorneys

Re: Stuck in a Contract

What county was this in? You many want to have an attorney review the documents and see if you can successfully sue under a breach of contract. You may have the option to enforce the sale or to rescind the contract.

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Answered on 12/10/06, 10:05 am


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