The facts presented here certainly indicate the homeowner should have serious concerns about the future performance of this contract. Having already provided over $100,000 to the contractor, having zero work performed, and being told the contactor cannot perform due to lack of "financial backing" are facts which suggest things are likely to go very wrong indeed.
Unfortunately, this situation, as with most construction related disputes, requires a review of the actual construction contract as the terms and conditions thereof will provide a guide to many of the rights and remedies between the parties as well as applicable notice provisions. There are likely a number of statutory provisions regarding the regulation of the contracting trade that may apply, but again, in construction disputes, these require a review of the very specific facts to provide any proper analysis.
This situation merits consultation with experienced construction counsel in your local area without further delay. Wishing you the best of luck.
Answered on May 22nd, 2024 at 4:14 AM