Turning dream homes into white elephants

When dealing with a display home in a builder insolvency there are not only numerous legal complexities but also practical and commercial considerations that external administrators need to be aware of when selling the display home.

Intended as a designated area for builders to build their display homes, display villages are a popular one-stop solution for developers to sell the dream of home ownership to prospective buyers. However, in the event of a builder insolvency, such properties that are subject to a display village agreement (DVA) may present several legal and commercial issues that seriously complicate the realisation of such assets by external administrators. As the construction industry continues to face econ...

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Authors: Will Colwell, David Hardy,

Published Date: 25 July 2024