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What does the contract say about termination?
Yes it does.
Unless the contract says you can withdraw then you can not technically.
The Landlord can hold you to the contract.
You will lose the deposit and any interest the builder has to pay from date of completion to resale.
But generally, those are the only losses.
But check the contract, much will be included in there about what you could be liable for.
Can I clarify anything for you about this today please?
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How much he is out of pocket.
Does that clarify?
It will be in the contract.
So if he borrowed money to complete the build. You could be liable for that interest on those borrowed sums from the date you were to take the property, to the date it is sold
He would need to evidence that loss.
Does that assist?
Not interest. But he can keep the deposit.
You had agreed to buy the property.
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