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Old 02-27-2008, 12:18 PM
 
Location: Huntersville
1,521 posts, read 4,478,514 times
Reputation: 298

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Trust me sometimes patients can be a great virtue. If you rush them to much they could cut corners and then lessen the quality of you home....

On the flip side do not let them push you around and make sure your Realtor is kept in the loop with anything that maybe discussed or promised.

Good luck....
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Old 02-27-2008, 12:20 PM
 
Location: State of Being
35,885 posts, read 67,059,012 times
Reputation: 22371
Quote:
Originally Posted by lovesMountains View Post
I would be looking at breaking that contract and getting my money back. There are just too many nice areas to buy in to have to put up with this!
Not kidding. However, wonder what the contract stipulates about time frames and backing out of the contract? That is why I wondered if a realtor had helped oversee the initial contract, and put some stipulations in it, such as - groundbreaking by xx date, etc or contract can be null and void, etc.
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Old 02-27-2008, 12:20 PM
 
Location: Huntersville
1,521 posts, read 4,478,514 times
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Quote:
Originally Posted by lovesMountains View Post
Great info, I was hoping a realtor would chime in here

Wouldn't you walk if the delays had been extreme and you lost confidence in the builder?
Actually 90+ days seems to be typical unless they have the lot already prepared. Then it can be up to 6 months from dig date.... so if everything goes to plan it could be 9 months or so......
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Old 02-27-2008, 12:31 PM
 
5 posts, read 9,606 times
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The reason why I say that this issue (the order of the purchase and sale) is bigger than the delays is because the other situation that I mentioned apparently involves a developer who owes $$ to a third party resulting in a lein on lots that have been sold by the builder. The builder, once again, can't build. It seems that buying BEFORE selling, as many builders do, ensures that you don't have problems like this. Of couse, the risk of not selling is then assumed by the seller, which is why having a buyer guaranteed makes more sense for the builder from a financial standpoint.

This has all been a learning experience!
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Old 02-27-2008, 01:14 PM
 
Location: South Charlotte
1,435 posts, read 5,223,437 times
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It all depends on your contract. Your Realtor should not be advising you outside of their profession, it is against NC Law. We are allowed to help interpret, guide, and assist you with the contract as its written.

Please consult an attorney, your Realtor most likely has a good working relationship with one and can have them review it for you. Even if your planning to wait for another month go ahead and figure out what foot your standing on and what your rights are.
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Old 02-27-2008, 01:27 PM
 
870 posts, read 3,211,224 times
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I always say, your two best friends should be an attorney and an accountant.
Contact an attorney and don't let the problem continue on. You could be in limbo for years.
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