View Full Version : Getting money owed back from builders

08-03-2005, 06:51 PM
Hi there,

Due to terrible delays in building, we took advantage of the clause in our contract that states we can pull out of the agreement if completion is delayed by six months or more.

That time was the end of June '05.

The agents that we bought the property through are telling us that the builder's M.D. is "away on holiday" but we're that used to excuses, we simply don't believe them!

Is there anyway that we can expedite / force the money back out of them (some 35,000) as we need that money to put down on another property - a property that's completed.

Any help or advice would be greatly appreciated.

Expert advisor
08-04-2005, 09:32 AM
In response to your question, we would like to start saying that in order to give an accurate response, the purchase contract should be checked to see whether there is a clause that clearly states that you are allowed to claim the cancelation of the contract and have all the amounts paid back six months after completion date and without being penalized for that.

If that is the case or if there is an agreement on the possible penalty to be paid, the buyer can then formally apply for the cancelation of the contract, being this the only way to recover the amounts paid as price for the purchase of the property except penalties.

We hope we have cleared your concerns and remain at your entire disposal to any matter you require.