Browse Forums Building A New House 1 Jun 02, 2019 8:33 pm Hi all. I'm looking for any experiences from people who have been in a similar situation. A family member is currently in the unenviable position of having had their builder go bankrupt part way through the build. They will get a payout from insurance and have had other builders come through to look at finishing the house, but I don't believe anyone has been too keen to get involved. Essentially the project is at a standstill (at lock-up but unfinished and with some possible defects that need work). What have others done if you've found yourself in a similar situation? I'm guessing the only 3 real options are either engage a new builder to finish, go Owner-Builder and finish or sell as is for a loss. Thanks for any advice shared. Re: Bankrupt Builder on partially finished house 2Jun 02, 2019 8:59 pm Forum member bashworth has an excellent blog which is a go to for hundreds of building subject matters. http://anewhouse.com.au/2012/10/if-the- ... goes-bust/ You can also do a forum search for other's experiences by using keywords such as liquidation and bankrupt/bankrupcy etc. 3in1 Supadiverta. Rainwater Harvesting Best Practice using syphonic drainage. Cleaner Neater Smarter Cheaper Supa Gutter Pumper. A low cost syphonic eaves gutter overflow solution. Re: Bankrupt Builder on partially finished house 3Jun 02, 2019 9:21 pm SaveH2O Forum member bashworth has an excellent blog which is a go to for hundreds of building subject matters. http://anewhouse.com.au/2012/10/if-the- ... goes-bust/ You can also do a forum search for other's experiences by using keywords such as liquidation and bankrupt/bankrupcy etc. Thanks for the blog tip - I'll def check it out. I did do some searches but didn't find much that was overly relevant. Re: Bankrupt Builder on partially finished house 4Jun 03, 2019 8:20 am From what I've heard the Insurance Kitty is also near collapse as more money is now going out by way of claims than going in by way of premiums they'll need an building audit and structural report Go Owner Builder Goodluck Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Bankrupt Builder on partially finished house 7Jun 04, 2019 9:16 am Joker What area are you from Sorry, SW WA based. Re: Bankrupt Builder on partially finished house 8Jun 04, 2019 9:18 am alexp79 go owner builder and finish at your own (financial and time) pace This is my gut take on the situation. Only thing I've discovered that would need to e considered is the Indemnity Insurance if selling up within 7 years, which is a possibility after being left so disappointed with the whole experience. Re: Bankrupt Builder on partially finished house 9Jun 04, 2019 10:03 am Would do what Alex79, structuralBIMGuy suggest,go owner builder, getting individual jobs done will be easier than getting a builder to take over,if you were in Geelong area know a good builder who has completed homes in similar situations,but only Geelong area,with your home partly completed it won't be all that hard, or you can get a project manager to guide you with steps and trades. Hi Abraham and Vicky, we got the same letter. Officially on Thursday they went into liquidation through ASIC. I have attached the liquidation notice. Following up… 1 4857 Hi, I contracted a Builder to do a Garage to Bedroom + ensuite conversion (Class 1a), the Builder engaged the Certifier and Engineer and received BDA from the Certifier… 0 5031 interesting situation what happened after builder issued final invoice? did you list as defect or not does the building surveyor have any responsibility? ie. issuing… 13 46961 |