Sale of Property in Feb 2016
The sale of my incomplete house went through Feb 2016. I got paid an amount on Registration and the balance is suppose to get paid on completion of the house. It is almost 18 months and i am still waiting on the balance. The Conveyance Attorney said that the house must be completed within a reasonable time after registration and if not i can charge interest as the seller.
What can i do as the builder is not completing the house and the conveyance attorney is not applying pressure on the builder.
Hello. The issue is contractual. Have a look at the terms of your agreement and check what happens if there is a breach of the agreement. If there is no time limit with respect to the completion of the building then the attorney is right with respect to a ” reasonable time”. Essentially it is the time period it would normally take a builder to complete such a building, barring unforeseen events. If you deem that there has been too much delay, ask the attorney to send them a letter threatening to cancel the agreement or get up to speed to complete the building within a specified time period.