A couple who signed a house for $450k, in March 2022 – are now forced by the developer to pay $200k more, causing a home disaster. This house was still under construction when they signed this deal – they paid a deposit on the house and were expected to move in. However, it did not turn out quite like that. The developer indicated that the project would be completed on the day they were supposed to move in. However, they were left for a surprise.
The Story Behind the Home Disaster
In March 2022, a couple named Natalie and Matthew Fundora signed a contract on a brand-new home and was expected to move in in that same year – November 2022. A deposit of $22,500 was put down on a total property cost of $450, 000. The husband, Matthew, told WSVN-TV that this was the couple’s dream home. However, years later, the couple still does not have the home they paid for – a home to live in.
Additionally, to make matters worse, now that the home is finally completed, they were told that they have to pay extra money for it, which results into a home disaster. The developer of the Fundora couple’s dream home, said that if the couple want to complete the deal, they will have to pay an extra amount of $200,000, according to Money Wise. Matthew responded to this by saying it is outrageous to expect them to pay an extra $200,000 years after he and Natalie was expected to move in. However, the question now is, what rights do they have in sit situation?
The couple’s rights for this Home Disaster
It is crucial that people do their homework (to prevent home disasters), on their rights when it comes to purchasing houses, especially when you already spend money on it. A legal expert, Howard Frinkelstein, stated that the Fundora couple is not out of luck, although their situation is extremely challenging. He further alluded to the fact that Matthew and Natalie’s contract is still valid, although it is year later since they first entered into this contract. He added that the contract does not expire, and it also does not indicate that it is prohibited for them to post a review on social media.
Moreover, Frinkelstein said that construction cost can increase but not as much as the developer stated, which leads to a home disaster. He specifically said that the developer can increase the price of the house with 6%, which will be $27,000. However, $200,000 is way too much to expect people to pay. He further added that people should keep in mind that the laws can be different per stated and therefore, what is specified in the contract can vary.
What’s next?
The attorney of the developer stated nothing about the expiry date of the contract made a few years ago. However, he stated that Matthew is guilty of a breach in contract when he trespassed the part that is included in the contract – it specifically stated that the buyer should schedule a visit to the property five days prior. Frinkelstein indicated that this would not be classified as a material breach – meaning: the original contract should not be seen as invalid because of this.
Furthermore, he did not mention anything about whether the couple made their monthly rent, since they were planning on moving into the house in November 2022. This was the date indicated in the contract and when they were supposed to start paying off their mortgage. This is why this situation is definitely a home disaster.
However, now that they house is ready to have people living in it – the couple cannot afford it. This is due to the additional $200,000 that was added by the developer and the couple cannot sue the developer because of this sudden money increase. The reason for this is because of the terms of the contract. However, it is stated that the Fundoras couple are more than welcome to arbitrate – this may be a quicker and cheaper way for them to go about this situation and this alternative, may result into the same outcome.