I am buying a home in Phoenix from DR Horton home builders. I purchased a "spec home" that was ADVERTISED as to be ready in "60 days." In part, I made my decision to buy that home based on that target date of 60 days in the future, the target date being March 15th. I agreed to put $1000 down at contract signing time, and another $1000 on March 15th, which I thought at the time would be right around "closing" date.
Well, here it is March 16th, and my closing date has not even been scheduled. Seems like the builder had some "delays" from the City of Phoenix in getting their permits. Well, here's the WRONG part of this deal: THEY can delay THEIR getting the house ready for me and say "it's out of our control." But I am being *FORCED* to pay my last deposit NOW or be at the risk of losing the $7400 I have already given them ($6400 for upgrades) because they cannot wait an extra TWO WEEKS to get their last $1000 deposit, which is when I would have had the money saved up. Their being late in getting the house ready for me has cost me actual dollars, because I have had to pay extra rent to my existing landlord and I have other expenses related to the delay. But those items, which are JUST AS MUCH "beyond my control" as their problems were, are not considered in the situation. They "have to have" their last deposit on time or they CAN LEGALLY "cancel" the contract and keep my $7400, and I will get NO RECOURSE. How fair is THAT? Where are the HOME BUYER'S rights?
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