Legal Question in Real Estate Law in Texas
Builder cancelled purchase agreement without notice
I had signed a purchase agreement for a house in Texas (I live in CA). Before the house was completed, the builder (apparently) ran our credit and chose to cancel the agreement without any written or verbal notice and returned our deposit money. We were not given an opportunity to perform. The value of the property increased during the construction period. What remedies do we have available to us?
1 Answer from Attorneys
Re: Builder cancelled purchase agreement without notice
Most of the answers to your question are probably addressed in the contract signed by you. It is possible that the builder retained a right to cancel based on his credit review etc. If not, then you may have right for specific performance and/or a case for money damages.
Dinesh Singhal
Attorney at law
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