Your agent should be fighting for your best interest! If he's not, consult with his broker, and if neither helps contact an attorney. If you were to pay the difference at closing and the closing doesn't take place without you agreeing to an extension you may have options. The dates on the contract may indicate the contract is invalid if closing hasn't taken place...Good Luck!
Elite GMAC Real Estate
Iowa Licensed Real Estate Broker
Serving Eastern Iowa with Premier Service
There should be a paragraph the talks about closing date and penilties for both parties if either is late.
The rate lock in should have been for a worse case situation.
Everybody goes in with great intentions, changes, weather and supplies not having items cause delays. This happens almost every time.
Now the next thing is the actual closing date requires that there be A certificate of Occupany by the city where the home is being built. you should not close without this and can not move into the house with out it.
Have your attorney review the contract to see if there is a penalty clause, if there is you should be able to work something out.
The clause that says you have to pay for the upgrades at closing most likely does not mean that the seller will be liable for a delayed closing or that you are relieved from paying from the upgrades. You are probably using a contract written by the developer's attorney, so you can be sure that most of the contract language is there to protect the rights of the contractor/developer rather than you as the buyer. It may or may not have been possible to add or modify any of the language in the Purchase Contract.
Your Realtor is probably not also an attorney. However, an attorney who can actually read the entire contract will be able to advise you for sure. Good luck.