We put a deposit on a condotel in Myrtle Beach SC 2 years ago and it is now being completed. Not expecting it to take 2 years, we are now wanting to break this contract. The market is not what it was 2 years ago and we are just not interested in buying in to the place - we never expected it to take so long. We have not been given any HOA paperwork and therefore feel that it might increase again before the opening of the building (it doubled from when we originally bought in to the property). There are just too many things left unanswered for us to feel comfortable. We are in PA and have found that everyone we contact is closely associated with the building/deal so we don't feel that we get honest answers to anything. We have been strung along for the last 6 months... every month we got an email saying that we were going to settle the following month and it just goes on and on.
Any advice for us to get out of this deal? HELP!

Does your contract specify anything that was supposed to occur, not occur that has not taken place per the contract ? If so, you may have a legal right to opt out. Since this is no minor issue, I would take the documents to atty and obtain his opionion. I would not think his/her fee would be very much in comparison to what you might stand to lose.

Thanks for your advice. The only thing mentioned in the contract that I can see is that they must have the building done by 8/23/07 which I am sure they will do whatever necessary to make sure they keep that date. The building has over 100 units in it and they can't afford to lose everyone who has bought in so far. I have tought of taking the contract to a lawyer but hate to be out more money than we probably will already be. Again, thanks for the advice.

Unless they have breached the contract in any way, you don't have grounds for cancelling. You say you didn't know it would take this long, but with a date of 8/23/07 you should have known.