If you don’t want to fall prey to home repair fraud, there are three common red flags you need to watch out for.
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Whether you’re facing a summer hurricane or a winter storm, we homeowners all have to deal with damage being done to the exterior of our homes at some point in our lives. In today’s episode of “Keeping In Tune With the Market,” I want to share a story about home repair fraud that happened to a client of mine and give you a few tips on how to prevent the same thing from happening to you.
This client was an elderly lady whose roof was damaged in a storm. When a roofer came by and offered to fix the damage for a ridiculously low price, she of course agreed and signed a contract. In return, her insurance company gave her a check that was written out to both her and the roofer. She signed the check over to the roofer, but she never got her roof fixed.
To prevent this kind of home repair fraud from happening to you, there are three red flags you need to watch out for.
First, if a contractor comes into your neighborhood and makes a “now-or-never” offer to make a repair at a reduced price while they’re in the area, don’t fall for it.
Second, if you hire a contractor to make a repair on your home and your insurance company issues a check that’s written out to the both of you, don’t sign the check over to the contractor until the repair has been made and it’s been inspected by another licensed contractor.
Third, if the contractor had materials they needed for your job, make sure they show you a paid receipt for those materials so you don’t get stuck with a lien on your house because they took off and took your money without paying for them.
If you have any questions about this topic or you have any other real estate needs I can help you with, feel free to call or email me anytime. I’d be happy to help you.
As always, remember to keep in tune with the market. Until next time, make it a great day!