builder in trouble

We're buying a house off a builder, who I now hear is in financial dffiiculties. The contracts are not signed yet, but we're very keen on the house and want it to go ahead. Could his financial difficulties have an affect on the sale?

I think we're buying it for a fair price - 300k down from 355k which he was asking 18 months ago. And a nice area in a county town.

I DO have concerns that it will decrease in value, but I can cope with that to a certain extent as we're planning to live in it at least 5 years.

"Could his financial difficulties have an affect on the sale?"

Yes. You need to talk this through with your own solicitor. You could be trapped in a nightmare situation if the deal does not complete after contracts are signed with everything being held up.

mf