Q: We have a contract in AR to build a new home. The builder will be late. Any recourse to recover expenses due to the
Contract states "The Closing of the sale of the real property (the “Closing”) shall occur on or before January 15, 2020 or at such other date as may be mutually agreed upon by Buyer and Seller (the Closing Date)." The builder has informed us they will not be ready on the 15th and may not be ready until the 30th or 31st. They did not approach us regarding this delay and we have not agreed to this. This delay will cost us for temporary housing, at least hundreds of dollars if not more if the delays extend into February. Do we have reasonable legal recourse to recover our expenses due to the delay?
A: You may have potential recourse depending on other provisions in the contract and the cause of the delay. Some contracts include financial penalties for missing closing dates, so you should review other sections of the contract. Barring any specific language in the contract for penalties, the reasons behind the builder being late would need to be analyzed. Was the builder working this entire time, but with setbacks outside of his control (weather?) or was he frequently absent from the job without explanation?
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