Jon is correct. It is important to discuss your problem with a real estate attorney, and soon. â€œTime is of the essanceâ€ in contracts and there may be options for you. Important things to do and consider:
â€¢ Read your contract throughly including any addendums and disclosures you may have signed.
â€¢ If you used a realtor contact them immediately to discuss the issue.
â€¢ (If you did not use a realtor and/or if you are nolonger working with that realtor) Call your contact at the builder immediately discuss your concerns with them. Ask for details about your options and confirm any timeframes regarding those details and options so you know what you are looking at. I would not make a rash decisions without knowing all the conditions and options first. They may offer you something that once again wouldnâ€™t fit your needs, so take time to consider their offers carefully. In either case I suggest you confer with a real estate attorney.
It is likely there is still time to work something out. But please act quikly in contacting a professional to assist you.
Jon Tucker with RE/MAX 100. I would consult an attorney on the contract. New construction contracts typically favor the builder and usually they hold the deposit. If you used a Realtor, start there. A little late, but it is more important to use a Realtor with new construction than existing home sales in order to get better contract terms. Also, see what the builder might be willing to do voluntarily. Perhaps you can buy another one of their units as you suggested.
Good Luck! Thanks, Jon Tucker, 443.538.4316, TuckerRealty@comcast.net, http://www.JonTuckerHomes.com.