This advise come a little late, but it probably would have been a good idea to have the contractor provide you with a surety bond, sometimes called a performance bond. A surety bond is kind of like an insurance policy to protect you in the event a contractor does not meet his obligations.
1) The company issuing he surety bond would investigate the contractor/contractor's company to ensure the contractor had never been in bankruptcy, late in paying bills, convected of any crime regrading malfeasances or irregularities, etc. If there were anything negative in the contractor's history, the surety company would not issue the bond. If the surety company did not trust the contractor enough to issue a bond, then you would be put on notice to avoid the contractor. 2) If the bond were issued, you could be sure that any irregularities committed by the contractor would be prosecuted by the surety compnay to the full extent of the law. 3) The contractor would be very careful in handling any project in which he was bonded, because of the threat of persecution from the surety company. http://www.surety1.com/?gclid=CKigu5fz54oCFQRIUAodOFb9qg Regards, LelandJ Kristyne McDaniel wrote: > Bill, > > >> That's a hellova sticker shock! >> > > A hundred grand is a HUGE overrun. With California real estate prices it > does not have the same drama here that it might elsewhere but it is real > money no matter where you are. That's three garages for us. Three of our > three car garages. > > At any rate, we have already decided that if the bank will go for the > increased budget we will pay the higher mortgage. It is still cheap for what > we're getting. We truly love the house. Now we just pray we can actually > move in. > > We have millions of rocks on our volcanic plateau location. Everything that > we've done that involved moving or draining water from this ground cost more > than we planned to pay. It started with the well costing $20K instead of > $10K and went on from there. > > No wonder the houses all around us cost so much when they go on the market. > Now I understand. > > Kristyne McDaniel > > > > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
