We paid for work completed but not according to the contract which stated that the second draw would come after completing the framing inspection. However, work stalled after this draw and it was months before the framing inspection could take place. Even if the work completed looks as though it will pass the framing inspection its a good idea to hold the money until inspection is completed and any corrections suggested by the inspector are promptly corrected before the payment is given. Do not pay unless work is completed according to the contract. Else, it provides the operators with leverage as they have received another draw only perhaps no customers.
Final payment Badly. Upon completion of the work we finally paid the builder in full, however we failed to demand lien wavers of all sub contractors involved in the project. This allowed the builder an opportunity to demand payment for extras or else he and his sub contractors would file a lien against our home. If we had obtained the lien wavers as a condition of the final payment we would have had leverage of the final payment hanging over the builder’s head.
We didn’t know what a lien waver was until we were nearly through this project. However, after learning it, we required each and every sub contractor there after to sign the waver as a condition for them to receive final payment. The lien waver as well as the payment conditions are powerful tools for the home owner in the event the builder and or subcontractor fails to perform the work promised, or is paid in full for work performed. In both cases, the home owner can leverage these – in fact they exist to protect the home owner. If this causes the project completion to be delayed it falls upon the builder to complete the originally agreed project or face payment deductions, all of which could be handled by a reputable FL estate management company.