Hi All,
A family member of mine is going to start the construction of their new home in the coming months. They have thus far shortlisted about 3 builders and going through the technical due diligence etc.
I know that there is also a commercial risk to projects like this, e.g. the company goes bust, legal action etc. I also know from experiences from friends that some of these builders don’t build to spec and don’t turn up for work causing delays and so on even though it is all stipulated in their contract.
I was wondering what was the best way to protect oneself against such risks? I find it also difficult to analyse these companies are many are private and their accounting books are not open to public.
Any tips/thoughts would be greatly appreciated. Thanks.
A family member of mine is going to start the construction of their new home in the coming months. They have thus far shortlisted about 3 builders and going through the technical due diligence etc.
I know that there is also a commercial risk to projects like this, e.g. the company goes bust, legal action etc. I also know from experiences from friends that some of these builders don’t build to spec and don’t turn up for work causing delays and so on even though it is all stipulated in their contract.
I was wondering what was the best way to protect oneself against such risks? I find it also difficult to analyse these companies are many are private and their accounting books are not open to public.
Any tips/thoughts would be greatly appreciated. Thanks.