Click on the link below... to read an article that I find to be the most informative article regarding buyers demanding deposits back. It's a long article but I highly suggest you read it. Let me know what you think.
Remember you are not alone... there are tons of people trying to get out of their contracts here in Miami.
Good luck and keep us posted.
However, there are some exceptions: Delays caused by unavailability of material at reasonable costs, strikes and other labor problems, governmental orders or other events which would support a defense based upon impossiblity of performance for reason beyond the control of the Seller.
When I asked the builder to return the deposit money, they refused the request.
Builder contracts heavily favor the builder. Honestly, without knowing the specific terms of your contract, it is impossible to answer your question.
You may or may not be out of luck. Your best bet is to consult with a real estate attorney who will review your contract with a fine-tooth comb (not to lecture, but it is something you should have had done prior to signing the contract so that you knew exactly what you were getting yourself into). Once he is familiar with the terms, you will have a much better idea as to where you stand.
Best of luck to you!
I would take your original purchase contract and meet with a Real Estate as soon as possible. An attorney will be able to best guide you. Whether or not you are entitled to get the money may be based on the contract.
Century 21 Infinity