1 - Consult a Real Estate Attorney - Have them review your agreement with the builder. You will find however, in most cases, the builder has the right to pull out of the contract, and they probably exercised their option to do so... But, it never hurts to have someone take a look and evaluate the whole story.
2 - At very least, any monies you have paid to the builder need to come back to your pocket. If they refuse to refund you the money or provide what you have paid for... see number 1
3 - No problem... Time to find another builder. Grab the plans, and let's start talking with various builders out there to see who will give you the best deal for the finish-out you are looking for... If you need help with that... I have a whole list of AMAZING builders that will build on your lot, and you will love the home when they are done.
I have seen this happen 3 times THIS YEAR ALONE!!! And in all 3 cases, the builder's contract protected them very well, and allowed them to pull out of a project at their discretion. In 2 out of the 3 cases, we simply found another builder, and moved on. In the other case, the lady had actually paid the builder, and the builder was not wanting to refund the money or provide the services that had been paid forâ€¦ I have a feeling, that one will be in a court room pretty soon. One must be careful which builder one choosesâ€¦
Honestlyâ€¦ in the real worldâ€¦ be mad at the builder for pulling outâ€¦ get your money backâ€¦ and letâ€™s go find you a better builderâ€¦ Its easier, less stress, and unless there is more to the storyâ€¦ will save you a lot of money on legal fees. Just my opinionâ€¦ But againâ€¦ a phone call to a licensed real estate attorney may not be a bad move, if anything just to know what options you have.
Hope that helps
Jason C Campbell
Keller Williams Realty
Now my NON LEGAL advise... go use that money from IRA and money they refunded to you ( I assume they refunded money since there was no home built) and go find yourself a new home. Don't let your emotions take the best of you. This time DO hire a Realtor, more than likely their services (as long as you make sure the builder pays them) will be free to you. It will cost you less time, headaches and money to just move on and find a better deal. There are plenty out there.
Feel free to contact me if you have any other questions.
Keller Williams Realty
I'm shocked the builder does not want to build you a house.
I sure wouldn't want to try to force the issue with someone who does not want to do business with me.
What does your realtor say? Please tell me you have one representing you.
Hopefully you can find another builder to help you. If you don't have a realtor yet, let's get you connected with one who will be in your corner fighting for your rights.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
This is a most unfortunate and disappointing situation....
Builders like everyone else are capable of making mistakes....it's human nature. Unfortunately, they usually cover their mistakes very well in their contract that you likely signed. With this said, the best source for accurate information is to review this document closely to identify what is covered and what is not.
Additionally, you should make it very clear in writing(registered mail) that you are very disappointed with their service and inability to perform to what they had agree and that you are considering your options that include seeking legal counsel. Sometimes by letting people know that you aren't going to "allow them to run you over", can make a difference.