We are building an expensive track home. The builder has our home one third built and just stopped building

Asked by Frank, Lemoore, CA Wed May 21, 2008

it. We heard he can't get a building loan. It has been 7 months and he will not refund our 12,000 deposit until a year which the contract states. Is there a legal way to get out of this deal

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Pat Menezes, Agent, Visalia, CA
Wed May 4, 2011
First and foremost get an attorney! Do not wait!
Here is one scenario that could happen even if the contractor completed the home.
- Contractor does not pay sub contractors and they place liens on the house, you can't close escrow because you cannot clear title.
There are other extreme issues that could present themselves even after you close and take on home ownership.
DO....seek a real estate attorney.
Pat Menezes
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Don Tepper, Agent, Burke, VA
Wed May 21, 2008
Consult a lawyer immediately. It's possible he's running out of money, and likely won't have any when the year is up. It may be possible to file a lien, or simply to pressure him and receive, perhaps, a partial refund of your deposit.

Good luck.
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