All Forum Posts by: Diana DeVille

My contractor suggested that I purchase all materials and then pay him a weekly labor cost.  Everyone I've asked about this tells me it will save me money, but here's my issue:  The property is located about 4 hours away from where I live, and I don't have a lot to time to get over there to supervise.  I'm a little hesitant to do this because a) I don't really know what I'm supposed to buy; b) I'm not there to accept delivery or otherwise deal with getting materials to the house, and c) I too thought that maybe a contractor would be able to get better pricing on materials than a layperson like me.  It's probably the only way I'm going to get this contractor to do the work, and I've been trying to find contractors in the area for about 4-5 months now with little luck.  I could use some guidance on how to structure the deal if I do in fact do this.  

I've had a similar issue.  I moved from Los Angeles to Nashville recently and am working with a private money lender, as I had some credit issues and no job.  The lender told me we could close quickly, in 7-10  days.  The appraisal took forever and only moved forward when I called local appraisers here and got it moving.  Then they said 5 days once they received the appraisal.  That blew by.  I finally signed the loan docs, and they said it will take 5 days from then. So that has now come and gone, and the only information I can get is that it is "in review" with the intake team.  But they won't give me an estimate of when they'll be reaching out to my escrow person.  All in All, this 7-10 day loan has now gone past the 30 day mark.  I'm stuck in an Airbnb with all my stuff back in Los Angeles on the moving truck and now I'm being charged for storage.  Can I at least deduct the moving storage and future rentals from their fees because they are dragging their feet?