Southern Pines, NC asked in Construction Law for North Carolina

Q: New construction home how much time is considered reasonable notice to delay closing by the builder?

We were informed on Feb2 our closing date was feb 26 and final walk thru Feb 19. Additionally we were told to order the appraisal and secure our loan for the purchase date of Feb 26

The appraiser completed the appraisal and we secured our loan with a 38 day lock and submitted our 30 day notice to vacate our apartment on Feb 15

On feb 18- notified us they were canceling the walk thru and having to push our closing to April 1. The reason for delay was back ordered items and weather, but these were known factors the week prior, (bad weather was predicted and they still insisted the date would not change) when we had confirmed the walk thru/closing dates on Feb 12

Because of the delay, we will be with out housing for 2 weeks, we will loose the loan rate that expires on March 12 (given the climate of rates puts us at a disadvantage) , and we have to order another appraisal.

Do we have any recourse and is there any expectation of a reasonable notice to a buyer to delay closing?

Related Topics:
1 Lawyer Answer
Ben Corcoran
Ben Corcoran
PREMIUM
Answered
  • Yadkinville, NC
  • Licensed in North Carolina

A: I would have to read your contract with the builder to be able to fully answer this question, but I suspect that it is silent on it. Generally, reasonableness is determined on a case-by-case basis and is a question for the jury.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.