Have you ever wondered when you write your check to the builder if they are paying their bills? In this trying time, people are not always honest. How do you protect yourself and your investment? First off, check the references before you write that first check. If you are going through a lending institute, both you and the builder can establish a separate account that requires both signatures (yours and theirs). If you are paying for budget items, make sure you get the receipts or copies. Most independent builders work off draws. Meaning, at certain points you will need to pay for work performed or materials to be ordered. The last payment should only be made when ALL the work has been performed and you are satisfied with the job. There should be a final inspection prior to the completion of a home or building. Once you are satisfied with the work and have made that last payment, ask the Builder for a Contractor’s Affidavit stating they have paid all bills. This document is a sworn statement, signed and notarized. Within this document, it states all labor, materials used, etc. have been paid and satisfied, and that no security interest on such property exist. If there is an outstanding amount due, the party and amount should be noted within this document. This document should reflect; you as the owner, with an address, real property description, statement, any outstanding amounts, signed by builder, and notarized. Just another step in protecting yourself and what is yours.
Always look at the Texas Registered Commission Construction site for licensed and registered builders ( http://www.trcc.state.tx.us by calling 877-651-TRCC).
For additional Help, Information, or Services contact Debbie at (830) 833-4249 or email@example.com .