Construction delays and legal aspects (house, new construction, compensation)

[sparklingstars]

Hello


What legal recourse does one have if a construction on a contract does not proceed as planned or is not completed in the time-frame given?
Can one get the earnest money back and invest in another house?

Does the seller have an obligation to reduce the house price or provide some other type of compensation due to the inconvenience incurred?


What if they fail to provide adequate information or updates on the progress of the construction?


Thanks for any advice!

[zunder1990]

What does your contract say? have it reviewed by a lawyer. Nothing else really matters as far as laws the contracts spells out the terms. I am willing to bet you are stuck with it, I think there would be enough loop holes that benefit the builder there is nothing you can do but take it.

[cptnD]

You might be able to back out. If so, it could end up costing you your EM. Check the contract. Did you have an agent representing you? Builders contracts are going to be set up to the builders benefit and not yours. It's always a good idea to have someone in your corner, even for new construction considering the builder pays agent fees.

[sparklingstars]

Yes. We were able to back out and lost the earnest money. But we still decided that was a good decision.
In the future, we would look for a contract that states 'mandatory' arbitration or mediation in case of a conflict.