Continuing the project as-is might be necessary when you are so far through construction that there is no viable alternative to make substantial changes. You are trying to recover what you can or stop the bleeding as much as possible. This is the case if you are working on behalf of the lender who is trying to recover the outstanding debt on a project and the discounted ‘fire-sale’ to get another developer interested is too costly. So the funders decide to keep control and complete it themselves. Alternatively, it could be that you have now acquired the project at such a low cost that it makes it feasible to continue as-is.
When continuing with the project in its current form you are taking on all the positive and negative factors uncovered during your audit. Make sure you are catching the knife by the handle and will confidently have everything under control moving forward.
Andrew Crosby
+64 21 982 444
andrew@xpectproperty.com
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