Don't laugh . . . It happens. Sometimes construction projects go wrong and the lender is in a bad spot. Is that project a builder spec? An investors project where they hired a builder? A homeowner who hired a builder? All of these scenarios are funded by lenders and something can go wrong and it is usually something has happened to the builder. Either the builder became ill or passed away, went AWOL and stopped communicating, stopped paying bills and was cut off either by vendors/subs or stopped paying interest carry to the lender and the lender cut off the builder. These scenarios DO HAPPEN and Investor Construction is a rare builder who will actually take on finishing these troubled construction jobs . . . and we have history of doing it.
It happens but builders are known for not paying bills. Unfortunately, home buyers who have hired a builder, and signed contracts, may not find out the builder has problems until the lender tells the home buyers their builder cannot qualify with the lender. Investor Construction has stepped in on previous occasions to take over construction for both the home buyer and lender. We give both the lender and home owner the comfort knowing an experienced custom home builder can step in and solve both parties problem and complete construction.
Rescue construction does not have to be limited to troubled construction projects either. We have been hired by OTHER BUILDERS to get their contruction back on track to meet scheduled move-in dates they were concerned they would not make on their own . . . even though they are a builder. So rescue construction affects more than just troubled construction projects and can even happen to other builders. It is unfortunately part of the business.
For investor and home owner construction projects the lender may not be able to force those people to use a specific builder but the lender can give recommendations on other builders to use. Since most builders will refuse to take on troubled construction projects the lenders options are very limited but this is where Investor Construction can step in on a referral from the lender.
Is your construction project stuck in mud and not going anywhere fast . . . and you know deep inside the project is way behind schedule and the builder seems to be stalling or possibly misleading you on the schedule? We have heard this before. Depending upon your contract (even lack of a contract) with your builder it may be time to change builders. Investor Construction can step in and get the project back on track. But there is even more to it than that. Bringing in a new builder brings in a new set of eyes. Usually when a construction project has reached this point there is a good chance the builder has "cut corners" and there are hidden issues that only another builder and a new set of eyes can catch. Investor Construction and our vendors and subs can be brought in to look over the project and see how bad things really are. Some things may not be seen on an initial inspection and will NOT get uncovered until after we take over so we can work with the project owner to document these construction defects for any future legal action the project owner may have against the original builder and/or contractors.