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Updated over 1 year ago,

User Stats

14
Posts
5
Votes
Neil Blalock
  • New to Real Estate
  • Fort Myers, FL
5
Votes |
14
Posts

New construction not done on time

Neil Blalock
  • New to Real Estate
  • Fort Myers, FL
Posted

Hi I am hoping someone can help me with my current issue. I am new to real estate and so is my realtor. I have been under contract on a new construction duplex in fort myers, FL since March. The builder and seller agent said the home would be finished 8/18/23. They keep saying the property will be done in a couple weeks and have continued to push back the closing date. My closing is 10/1/2023 according to contract but they just now told us we need to sign something to extend the contract because they are still not done and my loan and rate expire 10/27/23. I have 25k locked in escrow and im sensing this to be a shady situation. They are threatening us saying they have higher offers on the property hoping I back out is my guess. Should I get a real estate lawyer involved? Should I be compensated for breach of our original contract and sign the extension? I dont know what to do.

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