How are refunds calculated for projects with low completion?

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Ali Faizan Syed · Accepted Answer

If a project is less than sixty percent complete, and the developer terminates the contract due to purchaser default, they may retain up to twenty-five percent (25%) of the unit price. If construction has not started for reasons beyond the developer's control, they can retain up to thirty percent (30%) of the amounts already paid. Any excess must be refunded to the purchaser within specific deadlines, ensuring a balance between developer protection and investor equity during different project phases.

How are refunds calculated for projects with low completion?

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Ali Faizan Syed