When dealing with a shady real estate investor and not getting paid, what are my options?

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When dealing with a shady real estate investor and not getting paid, what are my options?

I am a general contractor currently working with an investor rehabbing a property. Stupidly enough, neither of us ever signed a contract and we now have disagreements re: payments, deadlines etc. He has scared away all of the subcontractors from the job, threatening that he would not pay them. I cannon complete this project by myself and I’m not too keen about getting new subs on the job, in fear that they would not get paid. What are my options here? My subs are still owed money, as am I but now he’s asking that we sign a lien release, just so he has it ahead of time (not going to happen).

Asked on August 2, 2012 under Business Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, you as a licensed general contractor are required to have a written contract with your client. Failure to do so is in violation of state law. I suggest that you immediately contact a real estate attorney for advice on how you need to proceed. Your lien without a contract in writing is in jeopardy.

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Under the laws of all states in this country, you as a licensed general contractor are required to have a written contract with your client. Failure to do so is in violation of state law. I suggest that you immediately contact a real estate attorney for advice on how you need to proceed. Your lien without a contract in writing is in jeopardy.


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