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Magnus Wikström
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120
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Suing the builder

Magnus Wikström
Posted

Hi all,

I don't know exactly why I'm writing here, maybe just desperation. But we're going towards a lawsuit of the builder we'd hired for 2 Single Family ground-ups in SWFL, where we had taken an additional site to planning and bought another 2 lots for scaling. The builder has done severe contract breaches and didn't fininsh one of the homes after final draw was released. We brought in a lawyer for the creation of a Settlement agreement, followed by two addendums where we deviated from the agreeement and sent him more money upfront, simply because the alternative would be twice as expensive and we thought maybe we'd sue him later afterwards anyways. 

Double interest for 1y+ and basically another final draw we need to pay to another builder for completing the house (if it's even worth it) has eaten basically everything we've got, all because of this very manipulative builder who must be one of the most dishonest people on the planet. Our only hope is a lawsuit I guess, I've already been forced to leave my home. I'm searching for regular jobs now but seems very difficult when you've been an entrepreneur for 9 years for some reason...

Again, I don't know why I'm writing here, just a cry for help maybe or if anybody has a word of encouragement. It all looks so grim now, I've lost aboslutely everything, I'm just lucky I've got a wife from heaven. Yeah, if anybody has any advice or the like, I'm all ears.

All the best,

Magnus

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Chris Seveney
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  • VA
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Chris Seveney
  • Investor
  • VA
ModeratorReplied

Have you considered filing a claim against licensing board as I assume your GC was licensed to do work. Some states have recovery programs from contractors who are licensed and do not complete work 

  • Chris Seveney
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7e investments
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