When Must New Homes Be Completed?
August 30th, 2008 By Peter G. Miller
While it would seem to make sense that a home could be completed by a given date, the reality is that new home construction includes elements which are beyond the builder’s control.
For instance, weather, the availability of building supplies, labor shortages, and other factors can each delay construction. Thus, it makes sense for builders to have some flexibility.
Conversely, “some” flexibility should not mean a year or two from a proposed closing date.
When negotiating a new home purchase agreement, be certain to have all language carefully reviewed by a broker and/or attorney, as appropriate so that a project cannot be strung out for months — and years — on end.
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