Browse Forums Building A New House 1 Jun 02, 2019 9:33 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 9:59 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. 3 in 1 Supadiverta. 0.75mm filter. No downpipes diverted. Can delete overflow pipe. Cleaner Neater Cheaper Supa Gutter Pumper. An inexpensive gutter overflow solution. https://www.aquatrek.net.au Re: Bankrupt Builder on partially finished house 3Jun 02, 2019 10:21 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. 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 9:20 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 https://plus.google.com/u/3/communities ... 1476023758 Re: Bankrupt Builder on partially finished house 7Jun 04, 2019 10:16 am ![]() What area are you from Sorry, SW WA based. Re: Bankrupt Builder on partially finished house 8Jun 04, 2019 10:18 am ![]() 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 11:03 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. Have had a lot of clients lately coming through with what is possibly properties in NSW and Victoria walking away-because the numbers no longer work. And I think is… 0 1727 ![]() 7 2274 Why don’t you get on the internet and do a search of builders that service West Sydney and/or even visit display villages to get an idea of size/inclusions/quality vs… 2 917 ![]() |