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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55131
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I entered a contract with developers to build a Townhouse

Customer Question

I entered a contract with developers to build a Townhouse (TH) in Baltimore. Was agreed that it would take 4 to 5 months to complete; rather it took more than double amount of time. Property was placed on market, been on listing for more than 90 dyas, price lowered, but still no buyers. Property was taken off market due o mold in basement. I have requested that my investment be retured, but share in profit once TH is sold. My claim is based on failure to abide by date promised and lack of management of TH; mold issue.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

You are well within your rights. They are in breach of contract and if they don't comply voluntarily, raise the stakes on them. They're they experts and you had a right to rely on their expertise in both the timing of completion and that there would be no issues with the townhome, such as mold. If there is a problem, it is the developers who should bear the burden of those problems. Send them a certified, return receipt requested letter detailing the history and demand they comply with your demands within a short specified period of time. Inform them that if your demand is not timely complied with, you will have no choice but to file a suit against him for your damages. BUT, be sure to specifically mention that you will be filing this claim not only as a breach of contract case, but also be including claims of intentional misconduct and gross negligence, which will entitle you not only to your damages, but also an additional amount equal to multiple times your actual damages as punitive damages. That should provide plenty of incentive to comply with your demands; but, if it does not, file your suit. Even if you have to file the suit, that's likely all you will need do. In my experience, they will settle this without a hearing rather than risk punitive damages and judgments being on the public record.

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