Hi everyone,
Just wanted to ask if we can still cancel our house and land package from the builder, what happened is, when the builder offered us the package they immediately ask for 5% for the “land” only. They said we needed to pay the 5% to make sure that we get the land, with the broker’s approval we gave them 5% for the land only.
So after 2 months when the land is ready for
Exchange and Settlement. we found out that the builder didn’t pay the 5% and the land developer is asking us for 5%. They won’t honor the receipt from the builder as obviously they have not received the money. Now we only have few days left and the developer will offer the land to other buyers.
The main reason we entered the contract is because of the land (location, size and price). If we lose the land can we still get our money (5% for the land) back from the builder and cancel our building contract? We need advise as these are all new to me. Thank you in advance.