We signed a contract with a home builder for a home, now they say they won't honor it because t
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I am buying a house in a new development in austin that everyone wants to get in, so the company held a lottery to setup a list of who would get first dibs on available lots. so i was told I drew #6, and i had a meeting with the builders, selected a lot, a basic house design, prequalified for a loan, signed the contract, and paid the earnest money. Then after arranging an appointment with the builder's designer for more specific exterior/interior colors, flooring, kitchen etc., my i get an e-mail from the builders saying they made a mistake and i was actually #126 on the list instead of #6. The e-mail said to stop payment on the earnest money check and that the builders would pay any stop payment fees and/or refund the earnest money.
Basically am i getting screwed? Is there anything we can do? I ask because we signed the contract but they builders are saying they didn't sign the contract so there is no contract. Does it make a difference that they cashed my earnest check?
We signed a contract with a home builder for a home, now they say they won't honor it because they didn't signThis happens more often than you can imagine. It happens in hot markets.
Does this sound familiar? ... You sign and are told the developer's authorized representative isn't available. You are told you'll get your signed copy in the mail, later. Later never comes. The market stays hot. Six or eight months later you are notified that you will have to pay an additional $40K or maybe more. You complain and get told you don't have a valid contract since the developer's representative never signed it.
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