Reply To: Comments or opinions please



Hi Jim

it sounds a bit dodgy to me. If the purchaser “Owns” the property before it is built – I assume that all he actually owns is his/her plot of land – then what incentive is there for the builder to finsih. It appears a great way for a builder to completely avoid any late completion fees, worrying about licence to build etc because the onus would then be on the “New Owner” of the land. Incidentally they would also be liable for 16% IVA because they would only be selling the land (they cannot sell ownership to something that doesn’t exist as far as I know)

Just my opinion of course – or should that be my observation