OK thank you;
So if a contract is delayed because of a condition precedent (basically a condition that must be performed before the contract becomes binding - ie financing is typically a condition precedent) then the contract simply expires, unless the contract provides for its extension or if the parties agree to extend it so the condition precedent can be met.
If there is no time is of the essence clause, the court will expect reasonable delays, given the common complexities in real estate development (ie delay in material beyond the owner's control, etc). However, if there is a time is of the essence clause, the courts will typically enforce the close date, because the parties contracted to that and the builder accepted the risk. This means that if the builder does not meet the close date (unless due to weather, for example) then the buyer can sue for damages. Damages include those expenses that are reasonably foreseeable and proximately caused by the breach- such as hotel expenses during the delay, storage costs for personal items, additional moving costs (moving items from storage to the residence).
But other than suing after the fact, there is not much one can do- because, for example, if one sought an injunction (ie specific performance to complete) those cases take several weeks to get before the court - unless there is an emergency, and the definition of emergency is narrowly defined -ie physical/emotional harm, irreparable damage, etc.
I would suggest reviewing your contract to verify there is a time is of the essence clause; if not, getting in writing from the builder a specific timeline as to when the house will be finished.
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Information provided is for educational purposes only. Consultation with a personal attorney is always recommended so your particular facts may be considered. Thank you and take care.