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drjoann

Paying Final Draw Before Final Walkthrough or CofC?

drjoann
13 years ago

Our house is just about finished and we will go to SC right after Christmas for the final walkthrough. The builder wants to close out the contract before the end of the year so he can offset the profit on the house with a loss on a spec house he built. We understand that & have no problem with it.

There is no bank involved looking out for their interests and the SC real estate attorney we contacted said that we don't have a closing, per se, because there's no bank. He said there really wasn't anything he would need to do the close out the contract.

Today, we got invoiced for the final draw & I want to make sure we handle this properly since there is no bank or attorney. I'm ansty about paying the full draw when we haven't had a chance to walk through the house in case there are any issues. Also, what happens if we do walk the house and there are problems? I think we're OK with closing out the contract as long as some money is held back to fix whatever we find. Is that what is usually done?

Also, our contract called for colored flatwork, but what was poured is not colored. We're willing to accept that since we don't want the disturbance of breaking it up and replacing it. However, shouldn't the builder credit us with the difference in the cost of colored concrete vs plain? Another thing is that he didn't build a window seat which is on the plan. When I pointed that out to him, he tried to find 3 different ways to blame me for the oversight. Is it reasonable to ask for a credit for that?

We don't have a CofC, yet. Is that another reason to hold back some of the final draw until we are sure of getting the CofC?

Thanks - Jo Ann

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