Asked by MMN, Pittsburgh, PA • Tue Mar 5, 2013
I signed a contract with a builder to build a new basement home and paid the earnest money. Two months after the contract was signed builder's agent called and said a basement cannot be built on a lot. She told due to the topography of land it would be expensive to dig a basement and the builder wants to cancel the contract. My family has spent lot of time and money customizing the home and doing the design selections. We want the builder to transfer the contract to a different lot in the subdivision where he can build a basement home. The builder wants me to terminate the contract. The prices have gone up since I signed the contract. I need to know what are my rights in case of builder defaults? Is the builder liable to pay any damages? Can a contract be transferred to a different lot with same terms?
Real Estate in Cumming
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