Hi All,
I bought a house+land package in feb 2007. Construction is going on since march 2007 till date. It is 4 bdrm, slope sensitive, split level design. According to HIA contract builder has 180 days to finish it but its still not complete. I have put hold on final stage payment but its costing me interest because of delays created by builder.
I am chasing them for last 4 months and they are showing very slow progress. According to contract they are bound to pay 15$/day as late construction penalties which is very less compare to 80$/day interest.
I am looking for some advice/suggestions to handle this situation.
Thanks
I bought a house+land package in feb 2007. Construction is going on since march 2007 till date. It is 4 bdrm, slope sensitive, split level design. According to HIA contract builder has 180 days to finish it but its still not complete. I have put hold on final stage payment but its costing me interest because of delays created by builder.
I am chasing them for last 4 months and they are showing very slow progress. According to contract they are bound to pay 15$/day as late construction penalties which is very less compare to 80$/day interest.
I am looking for some advice/suggestions to handle this situation.
Thanks