How to compensate for the delay in delivery?

When compensating for the delay in delivery, we must first look at whether there is a clear compensation method in the contract signed with the developer. If there is no agreement in the contract to postpone the delivery of the house, compensation will generally be made according to the total amount of the house payment multiplied by the bank interest rate and the delay in delivery of the house during the same period. The developer has the obligation to deliver the house to the buyer within the agreed time. After the delivery time, the buyer can claim compensation from the developer according to the signed house purchase agreement and bear the liability for breach of contract.

Some developers will be overdue for a long time before handing over the house, so it is necessary to judge as soon as possible what caused the delay. If the delay in delivery is not due to the delay in handling relevant procedures or municipal supporting development, it is due to the developer's own economic reasons. Property buyers can safeguard their legitimate rights and interests through legal channels, especially if they cannot negotiate with developers, and they can also complain to local consumer associations.

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