In these uncertain economic times, more and more builders find themselves faced with the problem of getting paid. When the work is complete, some homeowners are slow in paying the last bill. This could be for a good reason. There might be unfinished or improperly done work. If non-performance is an issue, a surety bond can provide the home owner with the necessary assurances.  Some items might be on back-order and the homeowner needs to hold some amount of money to guarantee the builder will come back to fix errors or install missing pieces.

     This is the correct thing for homeowners to be doing. But other times a homeowner might simply refuse to pay knowing that legal action by the builder will be expensive. The cost of suing might exceed the amount of money being held so it would not be worth it. The builder is forced to walk away from the money he is owed and the homeowner is unethically enriched. It’s truly sad when this happens. I wish there weren’t people in this world who would take advantage of hard working builders this way. (more…)