Does anyone have advice on buying a property from a developer before all work is completed?

Nay asks: Does anyone have advice on buying a property from a developer before all work is completed?
I am in process of buying an old cottage that is in process of being updated by developers – they have nearly finished but still have to put in flooring, finish garden and add fitted kitchen appliances (eg taps, hobs, fitted oven etc). We put in an offer based on all remaining work being completed, but now they have accepted this offer they are trying to wriggle out of finishing off the job properly. Does anyone have any tips on how to negotiate to ensure we get it finished to a good standard?

The answer voted best is:

Answer by jeff k
On no account are you to hand over any money to them until the job is fully completed to your satisfaction, the world is full of mug’s who trusted property developer’s, dont.

Add your own answer in the comments!

Powered by Yahoo answers!

4 comments

  1. Don’t give them any money until the house is finished. If necessary, just walk away.

  2. Don’t move in or pay until the work is finished, if you move in they will have an extra excuse that you were in the way so this or that could not be finished etc.

  3. I presume your offer to them wasn’t in writing ?

    If it was not then you could struggle to get a decent standard of finish or any finish.

    You need to consult your solicitor and ask him to write to the developer clarifying your offer and include in the letter a schedule of finishes that you deem to be included in your offer. Make sure the schedule lists product specifics and types to avoid inferior materials being used.

    The developer may be scared off by this but you are better in this situation rather than parting with money for a partially completed property.

    As with previous answers, do not part with any money until you like what you see and always deal through a solicitor.
    Good luck

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.