How do I get out of my builder agreement?

Asked by Tony B, Charlottesvile, Va 22911 Mon Dec 22, 2008

I Have been working with NVR mortgage (Ryan homes Mortgage broker) to build a new townhouse.
My initial signing was back in september. I requested an VA loan. From day one NVR has been dropping the ball. I provided every piece of document requested and have been wainting for my final Hud form until today. The day before my closing, and still they cant' get their figures right. Every day there is something new they can not figure out. My home and my life has been upside down since the day I singned with them. It is to the point where my wife no longer wants the house. How can I get out of my agreement with NVR mortgage?

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4
Charles McDo…, Agent, Charlottesville, VA
Fri Jan 2, 2009
Tony - how did things work out for you?
0 votes
Bill Eckler, Agent, Venice, FL
Tue Dec 23, 2008
Tony,

At this point is is important to consult an attorney for legal advice. A review of the contract terms and deadlines may reveal possible leverage.

At the very least the attorney sould be able to help you process and understand your options more clearly.

Good luck
0 votes
Charles McDo…, Agent, Charlottesville, VA
Tue Dec 23, 2008
It sounds like you do not have representation, is that correct?

Virginia is a caveat emptor state (buyer beware) and I always suggest representation. I have a client who is closing on a Ryan Home this week (not a VA loan) and we have things going very smoothly.

If you are working directly with Ryan Homes and not using a Buyer's Agent. You may want to consult with an attorney.
0 votes
Scott Godzyk, Agent, Manchester, NH
Mon Dec 22, 2008
Tony there is no simple answer. You will need to review your contract and look for outs. Your buyer broker should be able to assist you. You may have no other choice but to use your free first consultation with a real estate attorney, he can review your contract and situation for exact laws on your side. good luck with working things out.
Web Reference:  http://www.ScottSellsNH.com
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