Delay in development

Our situation is: We have notarized and purchased a plot of land (not yet paid, as various notices from the city/notary have not yet been received). According to the notary contract, the development is to be carried out by the seller - project company H. We have the contractual right to withdraw from the contract in January if the development has not been carried out by then. Now it is the case that H has received approval for demolition and development. Nevertheless, work has not begun because they fear possible withdrawals and would be stuck with the development costs (which is nonsense, since the plot can quickly be resold to new buyers including development costs. The plot is very attractive). A penalty for delay is not contractually agreed upon. What leverage do we have against H? Of course, we want him to start as soon as possible. After all, we have been talking to the broker and H for over a year now. Apart from some administrative processes (at least), nothing has happened!!!!

Hmm... so if I understand correctly, H is not starting the development now because he won't finish by January and the buyers might back out, right? There is actually only one plausible explanation for this: H doesn't have enough money to cover the development costs from his own funds, and if the buyers back out now, he's in deep trouble.

I know, legal questions can never really be answered properly in a forum... I was just so upset.

@Bauexperte - right, there are several buyers. We (several of the buyers) now want to try to negotiate an additional agreement in which we agree to bear the costs (we have to pay them afterward anyway according to the notary contract). However, we also want deadlines and default interest or similar to be included in it. Keep your fingers crossed for us that it works out.

@Häuslebauer 40 - yes, his "A" is going down, we think so too. Unfortunately, you can't choose the seller.

(sorry, twice ", dass" instead of ", das")