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Updated over 2 years ago on . Most recent reply

User Stats

31
Posts
10
Votes
Matthew Slaughter
  • New to Real Estate
  • Oxnard
10
Votes |
31
Posts

Construction Lawyer and Bad Contractor

Matthew Slaughter
  • New to Real Estate
  • Oxnard
Posted

HI BP!  I have work being done a duplex in Akron Ohio by a contractor listed on the Akron Canton Real Estate Investor Association website who is falling down at the end of the job.  Project is about 75% complete and has been at that point for about a month now.  The remaining balance owed to contractor is ~$10k, so not huge but not small.  Here is the issue; with him falling down at the end of the project we have a new tenant moving in on the 8th and our regular tenant not to happy about how the contractor has handled themselves, to say the least.   They're hiring pretty trashy people at this point.  To top that off, we're out of state investors.  So, looking to get your thoughts; should I fly out and help get it to the finish line/supervise?  Create an escrow account with a lawyer and have them manage the contractor?  Fire him (the only provision I did not put in the contract was 'failure to perform)?  Currently, there are liquidated damages per contract that he will be liable for....Thanks for any and all suggestions.

  • Matthew Slaughter
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