Hi there, we are in a very unfortunate situation with Dale Alcock. granted this is down to my own checking of the contract and not been thorough enough and making sure that all of their promises were in there
We need to get out of the situation that we are in by selling the current land which we own (part mortgaged) and the slab which is on it and the contract with Dale Alcock to complete the build.
Has anyone any experience in doing this?
Thanks in advance
Your contract will specify what happens regarding termination of the contract, which would typically be the builder claiming the cost of works that have been undertaken. You should get advice from a solicitor.
Considering you already have a slab on your block of land, you may find it difficult to sell, unless you have that broken up and removed. That may be considerable, plus the costs associated with terminating the contract.
You haven't described the details of why you want to terminate the build, however it may be better financially to complete the build and then sell it.
Your best chance might be to sell the house as a finished build? But it means paying for it till it is finished?
I think it is very difficult for someone else to get a mortgage for an incomplete build...
I know our slab down payment was a large percentage of the total contract which is no where near what it would of cost to lay. If you can hold out I'd be selling it fully built
There probably is people out there that would want to take over the contract as is but working out the sums and finding those people is the hard bit.
I hope this isn't due to the massive delay on your bricks
Thanks for the information guys, it is as I thought that we will have to wait until it is built and then sell which up until all of dale alcocks delays was what we were doing (not by choice) As they are even more delayed I was hoping we could just get rid of the whole sorry situation.
Looks like I'm gonna have to sit it out.
Thanks once again.