Contract Question - Is this normal?

**BC1234** · 07-26-2009, 09:54 AM

My husband and I had our offer accepted on a new construction home (construction is complete - just some minor things to finish) around June 24th. We signed a binder agreement immediately following the verbal acceptance, agreeing on a sales price and down payment. No money has been laid out yet.

It is a month later and we are STILL not in contract.

The builders lawyer took a LONG time to write the contract and he is difficult to get in contact with to discuss changes with (there were A LOT of changes that needed to be made). Both our lawyer and agent have had problems contacting him.

We are getting very frustrated at how long it is taking to get a signed contract (we can not start the mortgage process until this is signed). Is it normal for it to take this long?

**nattynitin** · 07-26-2009, 10:33 PM

This is not good. And i think he his not oK withe the deal. Do some thing to get the feedback from him and one more thing you can't do anything on holding binder agreement! so act fast.

**Greg** · 07-27-2009, 06:39 AM

There is definitely something wrong when a builder drags his feet when it comes to getting rid of some of his inventory.

This should be a red flag that something is not right.

Make the most of the situation and start looking for another home.

**wolfneyetna** · 07-27-2009, 11:44 PM

You don't have any money in the deal yet!

Walk, don't run, to your lawyer's office and have him get you out of the deal now!

Had this happen a few years back to a client -- unfortunately he had $20K in the deal. Builder went bust, client never got a dime back.