Real Estate Law
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Does the contract have something called a "time is of the essence" clause.
Is there anything in the contract that states what happens with contractural delays. The reason I am asking is that you want to see if there is anything that deals with remedies, like a remedy clause for construction delays first.
And what does it say....
Correct. It does not apply. Therefore, what a purchaser in your situation would have is a potential breach of contract claim. A three month delay appears to go beyond a normal delay in construction. We can discuss more if you would like to do so.
That would also be a contract issue and rise to a dispute involving a breach of contract claim. I am afraid, what all this results in is a breach of contract claim Sometimes purchasers will wait to deal with the situation until the project is complete, then make the breach of contract claim, rather than attempting the dispute now if the project is incomplete. Or sometimes purchaser will attempt to rescind the agreement altogether. It unfortunately is a difficult situation.
Hello again: You have the options outlined above. We can discuss them more. Someone in your position would have to make their own decision whether to commence a legal action now for breach of contract or rescission (i.e., not to go with the deal); or to wait to commence one for breach of contract. Or possibly work it out with them. If you want we can speak on the phone to discuss the options in more detail. I can send you the premium service offer.
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