Hi Theresa,
I haven’t done this – but, going by the tile, it sounds like you are effectively gifting the land to a builder in return for having them build two properties. There may be negotiated “give and take” $$-wise, but is that roughly what you are thinking of?
If so, the thought that struck me would be that YOUR house should be completed before the builder builds HIS. The last thing you would want is to have him go bust (or lose interest, or prioritise other work, etc) with your house un-built. I think it would be necessary to work with a Solicitor with this one.
A good thought, but don’t take half-measures with it…..
Benny
If both houses are similar in value, couldn’t he create a contract where the gifted house is chosen only after both houses have been built in order to avoid the builder to funnel most resources to his own property?
