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IP new build delayed one month
- Thread starter m_st
- Start date
Mine got delayed two months. My builder's sale mgr stated the following:
"The completion date that we provide is always just an estimate up until the builder knows we are about 30 days from closing and provides a ?30-day closing notice?. This notice would provide you the firm closing date. Due to the nature of home building, unfortunately delays are quite common, but we certainly did not expect to face the challenges we have with COVID. The only thing the builder would consider is if we delayed AFTER sending the 30-day closing notice. If this were the case, the builder is usually lenient about paying for rate lock extensions, but nothing towards housing."
"The completion date that we provide is always just an estimate up until the builder knows we are about 30 days from closing and provides a ?30-day closing notice?. This notice would provide you the firm closing date. Due to the nature of home building, unfortunately delays are quite common, but we certainly did not expect to face the challenges we have with COVID. The only thing the builder would consider is if we delayed AFTER sending the 30-day closing notice. If this were the case, the builder is usually lenient about paying for rate lock extensions, but nothing towards housing."
Check your contract. You?ll see IP has given themselves a full year of leeway in case construction gets delayed at no penalty to them. And up to 2 years if you choose to stick with them and not withdraw the deposit and void the contract, in which case you can ask for some type of restitution to be agreed upon between the two of you
sleepy5136
Well-known member
I mean if the contract protects them to delay for one year, what can you really ask from the builder besides covering your lock fees? They know you can?t do anything legally.