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Legal Eagle
Legal Eagle, Lawyer
Category: Real Estate Law
Satisfied Customers: 2921
Experience:  Licensed to practice before state and federal court
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I was conversing via e-mail with D. Ok, but there is NO HOA

Customer Question

I was conversing via e-mail with D. Ok, but there is NO HOA because they never finished the project. I have homeowners insurance, but the point is; can they just not finish the project and everyone who bought the condo's in good faith, based on the prospectus, is out the money and what they signed up for? Can they just not finish them and not pay for any exterior issues? If that is the case, why wouldn't developers start condo's sell everyone a "bill of goods" and move on and do it again? I don't get it?
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Legal Eagle replied 1 month ago.
Hello. Thanks so much for requesting one second while I review your question
Expert:  Legal Eagle replied 1 month ago.
Okay I think I understand your situation a little bit better now this appears to be a violation of the implied Covenant of good faith and fair dealing. What this basically means is that every contract has a promise we're each party promises to act in good faith with one another. If the developer did not build the condos fully and left you guys without any recourse then they violated that implied Covenant
Expert:  Legal Eagle replied 1 month ago.
the answer to your question is that I think that you should get a lawyer because this appears to be a breach of contract such that you should be entitled to some measure of compensatory damages. What those damages look like depend on your specific situation.
Expert:  Legal Eagle replied 1 month ago.
I agree with you the fact that they did not finish does not cut off their liability at all unless you agree to it in some capacity. Generally I strongly believe you should speak to a local attorney who might be able to help you get this right.

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