Residential Law


19 de October de 2021

The dream of homeownership is one of the most common and therefore, many homebuyers are attracted to the idea of buying something brand new directly from the plans.

In this case, it is generally celebrated when the purchase contract is signed and ready and being a long-term contract, assumed that regular installments will be paid over a fixed period of time – until the final amount is paid.

However, it can occur the possibility of a payment default on the part of purchaser or seller.  The buyer could for example, end up unemployed and unable to make further payments – or the seller could suffer delays with delivering the property within the predetermined deadline.

If termination of the contract is due to problems caused by either buyer or seller, the maximum amount that can be retained is up to 25% of the total amount paid thus far – and must repay the remaining balance (plus interest) as determined by the courts.

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