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Breached Covenant Advice

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  • Breached Covenant Advice

    Hi all,

    I'm in the process of buying a house to renovate and sell.

    The current owner has sold the back half of the garden to a developer who is putting a pair of semis on it.
    However, just before exchange and completion, it was brought up that the builder has built too close to the land of the existing house (20cm when contract stated 80cm minimum). The whole house hasn't been built, just the footings, drainage and first few courses of brickwork.

    The sellers solicitor has got a deed of variation ready, but not signed by the seller. He has stated that we can complete without this deed of variation being completed (we are buying cash), then after we have bought the house, charge the builder for our signature so that he can continue building without having to rip up all his previous work.

    Is this a prudent choice to take, as the builder has been the key reason for the delayed exchange and completion, which of course has delayed my ability to make profit until next year after the christmas period, instead of having it finished mid/late Nov as we had originally planned.

    Any help appreciated