Legal Question in Real Estate Law in Virginia

Forced to close

I am purchasing a new construction home and I notified the builder that I will not be available to close on the last week of December before signing the agreement of sale. The sales agent told me that it would not be a problem and the builder would work with me in scheduling the closing date. The agreement of sale had Dec/Jan as the estimated finish date, so I felt like they could easily set a time that I would be available. Well the builder is now forcing me to settle before the end of the year in order for them to meet their goals. The house is not finished, but they want me to do the walkthrough and settle on Dec. 26th, the day after Christmas. Can they force me to buy the house before it�s finished to my satisfaction? The contract says that as long as there is a home occupancy permit, I have to settle when the builder says. What are my options, if the builder doesn�t fix all the problems or finish the house before settlement? If I cancelled out of the contract, would I lose all my earnest money?


Asked on 12/12/03, 2:30 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Forced to close

Your best bet at this juncture is arrange to consult with an attorney who understands real property law and contracts for purchase of such property and allow him or her to review all of the relevant documents, and, most particularly, the contract involved in your particular situation, in order to determine what your realistic options may be.

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Answered on 12/12/03, 10:54 pm


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