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Builder Delay on Day of Loan Funding Recourse

Our builder (a typical large nationwide one) caused a delay today which is the day before closing. They apparently didn’t have a final inspection for the certificate of occupancy and as such we couldn’t have our bank fund the loan today and close tomorrow. We found all of this out after we wired our closing costs and down payment...

We have all moving things organized since they confirmed multiple times about closing on the 29th and were adamant that we were in the clear with no issues. Now we are stuck with an unknown delay and no where to go on the 30th at 5pm (day we need to be out of our recently sold home which is at the end of our lease-back agreement and the new owners are expecting keys that day).

Anyone else run into such a late delay by a builder and what if any kind of recourse do we have?

submitted by /u/TechPharmMed
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/oa2wm7/builder_delay_on_day_of_loan_funding_recourse/
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