Legal Question in Real Estate Law in Indiana
bank extension fee
I am the general contractor for building my home. I hired a builder to frame up home only. It has been 5 mo and he is not finished. It should have taken 3 mo at the most, but he refuses to work more than 2 days a wk. I now have an extension fee due at the bank. Who is responsible for paying this?
Asked on 9/20/08, 4:13 pm
1 Answer from Attorneys
Re: bank extension fee
Your strongest argument to have the sub responsible is if you have a contract that details a schedule and penalties, without that, you have a
an argument that there was an oral contract with an implicit understanding that time was of the essence; not as strong as a writtne contract, but certainly a valid argument.
Answered on 9/21/08, 12:45 pm
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