We built a home using Brainard Homes, LLC as our contractor. We signed a final agreement on September 2 stating how the last construction loan draw (funds) were to be disbursed.
We carried our own construction loan on this house. The builder did not carry the loan on this house, so the bank loan money is effectively ours.
The ending balance of our construction loan was $34,255.00. $14,400.00 was to go to the contractor for unpaid invoices. $1,327.00 additional was to go to the contractor, and the remaining $18,528.00 was to be paid to me and my husband, the homeowners. We signed a final binding agreement, drawn up by the contractor, stating these terms and that this was the final amount we owed.
Brainard Homes, LLC received the funds (via wire transfer) from the bank on Thursday, September 7. At that time Brainard Homes, LLC was to give us the $18,528.00 that they owe us.
Brainard Homes (Larry L. Brainard, Jr.) keeps putting us off, saying he is sick, has to put his kids to bed for school, etc., and he even took his phone off the hook so we could not contact him. He claims that we owe him more money (approximately $500.00) due to additional invoices that he forgot to put into the final agreement.
We do not owe him any more money. The final agreement even states that it is a final and binding agreement and that he is to give us $18,528.00 upon receipt of the construction loan funds.
Per the final agreement, he also owes us an additional $203.92 from a credit for returned building materials. So the grand total due to us is $18,731.92.
Brainard Homes owes us $18,731.93 and will not pay us. They are holding our money ($18,731.93) over a supposed $500.00 that we do not owe.
Larry Brainard, Jr. Also signed an agreement that he would provide us with a construction log that contains all invoices, etc. From the construction of our home. We have a signed agreement that we would have this in our posession by Saturday, September 9. We still have not been given this log. This log contains all of the invoices and information for the subcontractors that worked on our home, so we need it in case we ever have a problem with anything in our home.
Please also keep in mind that this builder has already pocketed his $27,750.00 profit on this house.
DO NOT EVER use this builder. The construction process was a nightmare also. They lie to you constantly about numerous things (not just this money situation)!
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