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Tuesday, May 10, 2005

Cabinet Situation

I heard back from Joe today. He was out of town over the weekend and yesterday, which is why I was unable to contact him. However, the cabinets still should have been completed while he was away. As I suspected, he had subcontracted the job out and he tells me he has now fired the subcontractor and will be taking over the job himself. Provided I agree, he said he will get the job 100% finished by 6 PM, May 18.

So we're looking at another week delay. But what are my options? I don't think I could get cabinets from someone else in a week. Truthfully, I don't want my money back, I want the job completed. And, strange as it might seem, I still like the guy. I like that he put his response in writing and gave a deadline. My gut feeling is that this guy is professional but he just had some bad luck with a subcontractor.

I faxed him back saying I would grant him an extension provided he gives me a new phone number I can reach him at and, more importantly, he agrees to pay me $100 per calendar day for each day after May 18 that the job is not complete. I asked him to sign the fax and return it if he agrees to these terms.

Update: After finishing typing this, I got his return fax. He agreed to my terms.

3 comments:

Bginvestor said...

Shaun,

Phoenix real estate is appreciating 6% a month (based on a article)

You may have gained a few thousand more dollars from this cabinet fiasco.

There's always a postive spin on things.

Good investing,

Brian

Shaun said...

Yeah, I noticed a couple weeks ago that comps have risen by about $15,000 from the time I first made my offer to buy the place.

Trisha#1 said...

I think your approach is brilliant. Faxing him a contract with contingencies should do the trick--unless he likes legal troubles. One purchase contract I signed for a bank-owned property I bought had a per-diem clause. For every day's delay over a certain time limit, I could be fined $50 a day if the delay had to do with issues on my side. You'd better believe I was on top of everything.

Glad to hear you've recovered from pneumonia! That sounded serious!

And, 6% a month increases? That's awesome! You should do really well with this one.

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