“There is nothing in your contract that would allow you to walk without loosing your deposit and possibly being sued for damages by the builder.”
There is usually a lot in the contract to allow someone to walk. If the home is damaged then at a minimum all the damage would have to be repaired prior to closing.
At most you’re at risk of losing the earnest money/deposit that you put down. I’d talk to a shyster first and let him talk to the builder. Its a heck of a lot better to lose the deposit than having a family member shot.
Our development had problems when it was being built out. Most of the problems were with empty houses. Once people moved in the problems seemed to go away.
On a resale home normally yes. On a custom home being built the builder can usually recover his losses until the home is sold again as well.
Don’t go to a general lawyer. Look for one that deals specially in real estate. He will know more than a lawyer that handles everything...When I bought a spec. house directly from the builder, I took all papers to a realestate lawyer and they don’t usually charge an arm and a leg...He gave me some good advice and also offered to go to the closing with me if I wanted...