If the anticipated move-in date is repeatedly postponed in the case of an officetel sale, the buyer can legally terminate the sale contract, request refund of the deposit, and claim penalties. This article details the conditions for the right to terminate as per the contract, how to respond when informed of a delay by the developer, and the golden time for asserting the right to terminate.

[Table of Contents]

• Possibility of Contract Termination and Penalty Claims in Case of Delayed Move-In

• Does the Developer's Notification of Change in Move-In Date Affect Contract Termination?

• The Golden Time of Contract Termination: Importance of Response Before the Move-In Process

1. Possibility of Contract Termination and Penalty Claims in Case of Delayed Move-In

If you have purchased an officetel but the anticipated move-in date keeps getting postponed, the buyer should consider terminating the sale contract. Most standard sale contracts include a clause for 'the buyer can terminate the contract if the move-in is not completed within 3 months from the anticipated move-in date'.

In cases handled by the law firm Cheongchul, buyers have successfully terminated the sale contract based on this clause, and received the full amount of the deposit as well as penalties amounting to 10% of the supply price. Therefore, if a delay in move-in occurs, it is necessary to carefully analyze the content of the contract to determine the possibility of claiming penalties.

2. Does the Developer's Notification of Change in Move-In Date Affect Contract Termination?

Many developers or construction companies often send out a 'Notice of Change in Anticipated Move-In Date' in case of construction delays. However, a unilateral notification from the developer does not legally change the anticipated move-in date as stipulated in the sale contract.

According to actual cases handled by the law firm Cheongchul, even when the developer sent a change notification, buyers were able to legally terminate the sale contract and receive both the deposit and penalties. Thus, receiving a notification from the developer does not automatically extinguish the right to terminate the contract, highlighting the importance of consulting with a professional to clearly understand one's rights.

3. The Golden Time of Contract Termination: Importance of Response Before the Move-In Process

The most important aspect to watch out for in contract termination due to move-in delays is the 'timing'. If the expected move-in date has long passed, it becomes legally very difficult to terminate the sale contract if the move-in process has already commenced.

Delaying the exercise of the right to terminate by thinking, "Let's wait a little longer," may lead to missing the opportunity to assert the right, resulting in having to move in against one’s will. Therefore, if a delay in move-in is anticipated or has already occurred, exercising the right to terminate promptly becomes all the more important.

This post is intended to provide legal information, and legal judgments may vary depending on specific circumstances.