Builder Bankruptcy – Getting Information Together
Well if you have followed the advice of the initial Bankruptcy Post you should have stopped all payments and made the site secure.
This will protect the money you have paid to date.
The next step is to get all the information about the build together including:
- The original contract documents including, The ‘Drawings’ and, the ‘Specification’.
- Evidence of all payments you have made.
- Details of the Builders Insurance. The insurer should be mentioned in the ‘Contract’. If you haven’t got details of the cover you should contact the builders administrator and get a copy.
- Any variations that you have requested.
- Any increases of cost that the builder has notified you about, (for example Site Work Costs).
- Copies of all council permits.
- All other correspondence.
- A record of how much work has been completed. As well as writing everything down (Takes lots of photographs)
- Cost you will incurr, such as paying fence rental.
Getting all this information together should help you, and your lawyer, in:
- Officially ending the old contract.
- Dealing with the building insurance (see your contract for details of the insurer) regarding assistance in completing the build.
- Organising a contract with a new builder to complete the works.
While you are getting the information you should try to keep in touch with your builders administrator to monitor the situation.
If another builder wants to buy your builder’s business that could be the quickest and easiest way to complete your house.
For more legal posts see Contracts
See this Financial Post for the next step