Q: Colorado builder missed the cert. of occupancy date. Builder did obtain COO before termination letter. Earnest money?
Signed standard contract with builder in Colorado with a firm cert of occupancy date. Builder missed date but obtained before we sent termination letter. Are we due our earnest money, builder is withholding.
A: Maybe. There is no such thing as a "standard contract with a builder." But, your rights WRT claiming that the builder breached by missing the contractual deadline for delivery and your remedies are going to be dependent upon the language in the contract. I recommend that you have an attorney review the contract with you to discuss your rights, remedies, risks, options, the process, timeline, and costs.
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