BestOfBid.com
Is there a 24 month (2 year) Federal law on completion of a new home?
I heard from many people that a builder must complete a newly constructed home within 24 months of the purchaser signing the contract. If the developer does not complete it; the purchaser is entitled to getting their deposit back. I heard this is a Federal law and does not have to be on the contract. Can someone confirm that this is true?
Public Comments
- There is no national building code enforced by the Federal Government. Building codes are regulated at the state and local level. However, there has been in recent years a push to have a single national building code but it has not been adopted. It's much more likely that your state has a regulation that legaly required a construction project to be completed in a certain amount of time. Could even be linked to the construction permits.
