Is a 10 day written confirmation for settlement from a builder a binding agreement?
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Is a 10 day written confirmation for settlement from a builder a binding agreement?
We have received 4 closing dates and 2 written confirmations from our builder within the last 60 days. They will possibly miss this upcoming closing date again, being they still have not installed garage door, appliances, preformed inspections and completed a final walk through.. We have made arrangements to move being closing will be within 2 days.
Asked on May 28, 2019 under Real Estate Law, Maryland
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
While we can't say 100% not having seen or reviewed these documents, generally, they would be binding. If you incur losses or costs (e.g. having to stay in a hotel or rent someplace to live; having to store your belongings; etc.) due to them not being able to close when agreed, if they do not voluntarily compensate you (e.g. give you credits or free upgrades) for this, you could sue them for compenation.
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