Owner/builder offered house under construction for sale, accepted offer, signed contract, opened escrow, now wants to renegotiate purchase price of home to be increased due to (owners own wording) "construction costs exceeding his estimates" and wants to pass those additional costs on to buyer. Escrow was to close on 11/15/04 by contract. Now owner wants to extend to 1/15/05 and doesn't want to pay the additional extension fees from lender.
Please advise as to the legality of this. This was an agreement between Remax Gold Realtors and seller.