Has anyone managed to get a specific penalty clause inserted in their contracts if completion is delayed beyond 6 months? I have a reference that the Seller will pay no penalty for a delay up to 6 months. However, there is no reference to what penalty the Seller will pay if completion is delayed to 7, 8, 9, 20 months.
Anyone have a point of view on this? A lawyer, with no "off plan/overseas experience" has advised me that delay clauses in the UK/Ireland often have a penalty pro rated to the length delay. Not sure if this is optimistic for LJDF.