Completion Date New Build

OldMusicGuy

AdrianC said:

Developers CAN sell part-built properties, then complete your property for you. Of course they can.

Whether they are WILLING to is another question entirely.

Which is what the small builder I mentioned was prepared to do. At great financial risk to ourselves and no risk to him.

Our mainstream developer is completely unwilling to complete on part built properties (because it screws up the NHBC certification), or bring the completion date forward for a cash buyer. I would suspect all mainstream builders would be of the same mind.

onthemend88

OldMusicGuy said:

Which is what the small builder I mentioned was prepared to do. At great financial risk to ourselves and no risk to him.

We are buying through a small builder and cannot complete until the property is signed off by the LABC. 

OldMusicGuy

onthemend88 said:

We are buying through a small builder and cannot complete until the property is signed off by the LABC. 

Which was where we started with our small builder. But as the build got delayed and caused cash flow problems for him (this was pre COVID) he was coming up with various options for us to fund the building process to speed things up, which might conceivably have brought the SDLT liability point forward (prior to full completion). But we never got that far as we pulled out.

So bottom line, there's virtually no chance that the OP could somehow get to the point where the SDLT liability falls before March 31st next year on a new build with a current completion date of August. 

RobLT

OldMusicGuy said:

onthemend88 said:

We are buying through a small builder and cannot complete until the property is signed off by the LABC. 

Which was where we started with our small builder. But as the build got delayed and caused cash flow problems for him (this was pre COVID) he was coming up with various options for us to fund the building process to speed things up, which might conceivably have brought the SDLT liability point forward (prior to full completion). But we never got that far as we pulled out.

So bottom line, there's virtually no chance that the OP could somehow get to the point where the SDLT liability falls before March 31st next year on a new build with a current completion date of August. 

I wonder if it would all change if we all go into lockdown again for say another 3 months(hopefully not)and developers down tools, surely the end date for stamp duty would have to be extended again as nobody would be buying houses would they?

sweetsand

AdrianC said:

Developers CAN sell part-built properties, then complete your property for you. Of course they can.

Whether they are WILLING to is another question entirely.

And that is the cruxes of it. Are they reading, will and able or impotent regarding you request, that is the half a million dollar question.

Thinking back, you are spot on as one of my siblings bought a house on a gated development, the detached house was oked by the NBC guarantee or whatever it is beforehand and then they had the quality etc they wanted and paid the remaining money in stages as work was completed. This was around 2009 the economy went belly up and some of the properties on the devliopmet were not completed until years afterwards and i think the company went belly up - my sibling was lucky they go their home built but around the corner was a building site but they have now sold and done well- it could have gone very wrong

Thanks