Building a home and builder can’t give guarantee we will close on the day they set
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Building a home and builder can’t give guarantee we will close on the day they set
The home we were building, the builder agent and mortgage company are one, they gave us the closing date of September 28. We expressed our concerns about the day but they were unwilling to adjust even by a day. Now they cannot guarantee us that we will be able to close on September 28. We will be homeless officially as of September 30. What are our rights and legal action we can take if needed?
Asked on September 15, 2017 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If the closing date is in the contract, then their failure to close on time would be a breach of contract which would potentially make them liable for responsible for any costs their failure causes you--such as the cost of a hotel room, storage costs for your belongings, etc. Unfortunately, if they will not volunatarily reimburse you for these costs, you would have to sue them for "breach of contract" for the money.
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