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Updated about 10 years ago on . Most recent reply

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Tim G.
  • Flipper/Rehabber
  • Miamisburg, OH
64
Votes |
161
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Financial Obligations After Firing Contractor

Tim G.
  • Flipper/Rehabber
  • Miamisburg, OH
Posted

I am in the middle of flipping my 2nd property. I hired a contractor to perform all the work and it's just not working out with them.   Slow work, not on time, excuse after excuse, etc. 

they provided a written 6 week timeline to do the work.  Yesterday started week 3 and I would say they are maybe 1-1.5 weeks into it based on their timeline.  

The total labor cost is $9650.  $750 to be paid at the end of each week and $5150 to be paid when the house is completed.  I have paid them $1500 total for weeks 1 and 2.  If I fire them today, what financial obligations do I owe them?

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Depends on all the exact language in your contract, default provisions, etc.

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