Dear forum friends,
I received the following email today from the land developer:
''Unfortunately stages 1 to 4 have not progress as quickly as we would have liked and titles have been put back about 6 months. We first anticipated titles/settlement for stage 5 in July/August – due to the above circumstances, the developer made the decision not to wait for the current contractors, but to engage another company to complete stages 5 to 11.
At this stage we estimate completion for stage 5 in October, with settlement in November.''
I've paid a deposit on a lot in stage 5. I'm currently renting to wait for the settlement. I've checked the contract and there is nothing about compensation if the vendor delays the settlement.
Could anyone please tell me that if I can claim any liability from the land developer because they delayed the settlement for four months? And what can I do if they delays again?
Looking forward for a answer!
Appreciate for your help!
Best regards,
I received the following email today from the land developer:
''Unfortunately stages 1 to 4 have not progress as quickly as we would have liked and titles have been put back about 6 months. We first anticipated titles/settlement for stage 5 in July/August – due to the above circumstances, the developer made the decision not to wait for the current contractors, but to engage another company to complete stages 5 to 11.
At this stage we estimate completion for stage 5 in October, with settlement in November.''
I've paid a deposit on a lot in stage 5. I'm currently renting to wait for the settlement. I've checked the contract and there is nothing about compensation if the vendor delays the settlement.
Could anyone please tell me that if I can claim any liability from the land developer because they delayed the settlement for four months? And what can I do if they delays again?
Looking forward for a answer!
Appreciate for your help!
Best regards,