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Updated over 8 years ago on . Most recent reply

User Stats

19
Posts
3
Votes
Rick Edgeworth
  • Investor
  • Lumberton, TX
3
Votes |
19
Posts

Custom Homes Money Owed What to do or Lawyer Up??

Rick Edgeworth
  • Investor
  • Lumberton, TX
Posted

We have a custom home we contracted to built at cost plus %. The project has taken over a year and a half. This was approx 7k sqft and should have taken 8-10 months. Many different reasons for the time frame with the homeowners large number of on the fly changes leading the charge. The customer has been paying cash/check out of pocket for the project. With the recent draw request of 100k the customer has told us they are out of money and want to stop construction. We don't believe the money to be the issue but other reasons they are not sharing. They gave 20k of the 100 and said they would be doing a loan to get the remainder of the money. It has been approx. 4 weeks since this discussion. There have been other discussions in the meantime and since there have been contractors found at the site doing work. Obviously they are not working for free. I think I need to lawyer up and put a stop work/lean on the site. If I can even do that...Don/t know..I don't fully know my options and plan to talk to lawyer shortly. What experience or recommendations might there be??

Thanks for the advise! 

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