I recently approached a builder to build a home for me and my family on a piece of land which I own.
As I was paying for the construction myself, and not making use of a bond for finance, we agreed that I would pay over instalments when certain points were reached in the building process.
Things went well in the beginning, but, after reviewing my finances and the costs of the project, we agreed that the home would need to be smaller to keep the costs down.
Unfortunately, even though we had made the adjustments, I found myself in a position where I could not meet one or two of the progress payments, and renegotiated with the builder that I would pay him the remaining amount at the end of construction.
My financial situation hasn’t improved though, and I am now in the position where the building is now complete but I can no longer make a final lump sum payment.
Due to the financial pressures that I am under, I can’t afford the rent we are paying, not to mention the storage costs for the extra furniture that doesn’t fit in the rented property.
I have no choice but to move into the house, which aside from the missed payments, is basically paid for.
I have asked the builder to renegotiate and allow me to pay him off in instalments, but he has refused to accept this and will not hand over the house. He is insisting that I pay the full sum owing, which I believe is completely unreasonable.
Are there any options available to me?
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