27 Sep 2007 12:43 AM:
Hi All,
our property is overdue by some months now. the builder has offered us our money back through our bank guarantee - less 15% ( commission between builder and agent) and no interest. after discussing this with my lawyer he says it is because we are cancelling the contract. he says they ( the builder ) are not in breach of contract until 24 months + 120 days after planning permit is granted. he faxed me a copy of this which was stamped 10/10/05. that means he thinks - - - - - are not in breach until approx 7/2/08. that is why they are prepared to offer me this deal now, because it'll cost them a lot more after 7th feb next year !
do you think this sounds fair / reasonable ? should i just wait until this date ? i don't think LFO will be granted for a year or two yet ? the date for completion was supposed to be 1st feb 07.
the wording of the contract is set out below: quote:
- - - - - S.A.U. undertakes to start the construction works refered to in paragraph 3 ( our property ) herein within a time limit of 120 days after the planing permission has been obtained and such works shall be completed within a period of 24 months after the beginning of the same.
The house shall be put at the disposal of the Purchaser within the time limit of a month after receiving the administrative authorisation for its occupation, except when there is fair consideration, unquote
what should i do ? does the contract mean 24 months + 120 days or should the 120 days be included in the 24 months ? and even if it's the latter, by the time i pursued this through a court would i be wasting my time and be advised to let time take it's course??
regards,
ken
This message was last edited by kennym on 9/27/2007.This message was last edited by kennym on 9/27/2007.
Forum thread:
Builders versus owners - what can be done?
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