I put a $10,000 down to purchase a KB home. A big part of the decision that I bought the house at that particular time because the sale agent told me the closing date will be mid-December. It is important to me to have a house for my wedding on December 24th so I decided to buy the house. Now the construction is delayed and it's pushed back to January for closing. I am disappointed and want to cancel the deal, can I get the deposit back?
2006-12-04 18:47:05 · 3 answers · asked by heavyd 1 in Business & Finance ➔ Renting & Real Estate
Read your contract. It should spell it out clealy. Estimated closing dates are just that, estimates.
On new construction it would be absurd to expect time to be the essense of the contract since there are so many variables involved. In such a case, getting your deposit back for that reason would be iffy since a one month delay isn't all that significant.
2006-12-05 01:02:05 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
The title company.
BUT, read the contract. If the delay was not in the control of the builder there is likely a clause in there to protect them. You can't cancel because of regret, only for issues as spelled out in the contract.
2006-12-05 01:03:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
read the contract. the penalties for late performance should be spelled out...if they arent then probably not. "Estimated" after all
2006-12-04 18:48:43 · answer #3 · answered by David B 6 · 0⤊ 0⤋