Project Home contract signing

[havinago]

Friend of mine bought land.
Approached Project Builder.
Signed contract
Now can't get finance.
Read through contract, can't find anything about rescinding due to unable to obtain finance etc.
Do most project home builders not enforce contracts if you can't get finance?

Whats the story?

 

[devank]

We had to provide the 'pre-approval' before signing the contract. I'm sure all major builders would follow the same

Who are they building with?

 

[havinago]

We had to provide the 'pre-approval' before signing the contract. I'm sure all major builders would follow the same

Who are they building with?

Metricon is the builder

 

[Terry_w]

Do most project home builders not enforce contracts if you can't get finance?

Whats the story?

Your friend is in trouble and should seek legal advice asap.

 

[havinago]

Your friend is in trouble and should seek legal advice asap.

They said the builder CAN'T start till they know finance is approved.
So I guess their is some way yeh?