I am building a new home and recently found out that my bank allowed the first draw to go thru without my signature. The paper work I signed required my signature and the builders. Now I had to hire an inspector because the roofing work is of poor worksmanship.
2007-12-08 13:59:37 · 5 answers · asked by lucyinktown 1 in Business & Finance ➔ Careers & Employment ➔ Law & Legal
Well, my first step would be to talk to the bank and ask what they thought they were doing?
2007-12-08 14:03:51 · answer #1 · answered by Anonymous · 1⤊ 0⤋
It sounds like you don't understand how the process works.
The bank has to pay the builder upon completion of the work for the next draw, or the builder will stop work or file a lien against the property...that is why they paid them.
I would wager that the draws were not 100% dependent on your signature...you need to re-read the contract. Banks have deadlines when you are doing a construction to perm and they are not going to give that much control to the borrower.
Who hired the contractor? You did. Don't blame the bank for that.
An inspector won't fix your problem, another contractor will. Inspectors for that issue are a waste of money, any other roofing contractor could do the same job.
2007-12-08 19:54:01 · answer #2 · answered by Expert8675309 7 · 0⤊ 1⤋
You are talking about a lot of money, so consult an attorney. If you signature is required, then the bank messed up, but you need to handle this properly to secure your rights.
2007-12-08 16:50:29 · answer #3 · answered by JJ 5 · 0⤊ 0⤋
you should do pre-paid legal they will you give you lawyers for any kind of problem they help a lot and you are able to get one 24 hours a day. and its cheap they can help you with anything and they are the best.
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2007-12-09 16:34:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Police can not intervene in civil concerns. you ought to bypass to a civil court docket, for breach of contract and for direction against the contractor for particular overall performance of his component of the contract or to the buyer court docket, for deficiency of the provider. yet, to buttress your case, you may deliver the cheque by ability of submit, below Acknowledgement due and notice if he continues to be refusing to settle for. you ought to have documentary info to coach that he did no longer settle to your charge in cheque.
2016-10-01 04:56:18 · answer #5 · answered by ? 4 · 0⤊ 0⤋