I had a similar situation with one of the banks I get foreclosure listings from. What I did was sent two contractors of my choice out to give me bids and I sent those bids to the bank along with an explanation about the overcharge.
In your case, since the work was already done, it may be too late to do anything. My guess is that the contractor is counting on the fact that the bank won't fight it, they'll just cave and pay him, especially if he threatens a mechanic's lien.
Quote:
Originally Posted by 2nsian
Hi all,
I am looking for an expert's advise from someone in the field of real estate or law. Or anyone who has come across the situation.
I have an escrow account through the lender for repairs. The licensed contractor gave me an estimate which was forwarded to the lender. The work has been completed but not to my satisfaction. i.e he estimated the cost to repair or replace spindle (loose guardrail) was $500.00. It turns out that all was done was fastening a screw in one of the guardrail legs. Clearly that is not $500.00 worth of work. The contractor is stating that the final invoice will be the same as the estimate and "the numbers are what they are".
How can I stop him from getting overpaid by the lender for the actual work performed ? I'm in Georgia.
This guardrail is just one of a few other repairs that I'm being overcharged for.
Thank you all,
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