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My builder is forcing me to buy a house. My financial condition gone worse during last two months and they said that I have to abide by contract and buy it whether I am comfortable or not.
I have deposited earnest money and I am not worried to loose it but they said that they can sue me for extra damages if I would not buy a house. According to their contract they had put that clause that they can sue me for specific performance.
Please I need help how to come out of deal as I am not comfortable to buy.
My immigration status is on EAD. They are asking me to produce permanent resident card and then citizenship. They are saying that I am doing a breach of contract by not providing them information.
When I am not a US citizen then how can I produce it.
I have to ask why you got yourself into a contract without the ability to buy the begin with? But, either way, did you go directly to the builder? or did you get your own realtor before seeing the builder?
So many don't realize that they need a realtor when you buy a new build. You must protect yourself and a good realtor will guide you. Additionally, I am surprised you are being financed if you really can't afford it. In today's financial world...lenders are lending like they did a couple of years ago. Good luck to you because you are going to have to fight hard...builders are going to hold onto your money tight.
If you can't afford the house, you'll be declined a mortgage, and with that, they can't force you to buy the house because you can't.
Either way, if you don't care about your earnest money, I highly doubt they're going to sue you for specific performance. Their attorneys will probably cost more than the price of the home. And if the house is still being built, they have time to sell it as a spec home before it's complete.
And if they're worried about "odd" selections you made during the building process, they should have collected extra earnest money at that time. If they didn't, that's their loss.
Just go straight to the top and raise hell with the manager. If your financial situation truly changed, and they get to keep your earnest money, I doubt they'll sue. It wouldn't be worth their time. That's what the earnest money is for. It's most likely a bluff. If they keep playing hardball, contact your local news station about it. They'd LOVE to do a story about a corrupt builder right now.
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