This topic contains 1 reply, has 2 voices, and was last updated by Anonymous 8 years ago.
- May 6, 2011 at 12:22 pm #207931
…you pending the sale of your home.? I am looking to have new carpets installed in my home before I put it up for sale and have heard that some contractors will do front end financing and will do the work and get paid when your home sells? Is this true? Has anyone had this done?
- May 19, 2011 at 1:56 am #281168
As a contractor, I have done just that. I have provided material and labor, and waited until closing to be paid. I would do this only with a written contract stipulating my payment by the closing agent. Typical escrow financing refers more to incomplete work. If I were building you a home, and you wanted to close the loan, any incomplete work would be assessed, and 1.5 times the value would be placed in escrow until the work was completed, thus protecting the homeowner against paying and not getting the work completed.
You must be logged in to reply to this topic.