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We are building our new primary residence. We are nearing completion of the construction and have just signed the draw request for the finalization of phase 5 out of 6. One phase left to go! Unlike the other phases, for phase 5 we have received an Affidavit of Completion from the builder which the builder states the bank is requiring in order to release funds for phase 5. Nothing in the affidavit of completion itself specifies that this is for a particular phase, what does appear in the affidavit is a reference to the contract to build that we signed and then states that the improvements in the above contract have been completed and the date of completion is today.
I am reluctant to sign because obviously the house is not complete. There's an entire phase left to be done. Signing this seems to give the builder even more leeway to drag out this already long construction and to sign and notarize something that isn't complete ... well how can I sign under oath that something is done? I spoke with the builder and they said that this affidavit is just for this phase so eh maybe, but the verbiage in the affidavit doesn't reflect that...???
Question does this sound iffy or normal?
To note: the bank that we got the loan from was acquired by another bank which may have different protocols, a call to them is planned for tomorrow.
n/m re reading my contract it explicitly states "do not sign any completion certificate or agreement" until the job is actually completed to satisfaction... so what's going on here?
Last edited by recuerdeme; 06-07-2022 at 06:27 PM..
Any time that you are being asked to sign legal documents which you don't understand, especially when there is a large amount of money at stake and especially when the documents do not accurately state the facts, then you need a good attorney on your side to advise you. I think this may be one of those situations.
You could add a handwritten insertion that says "completion of phase 5." Then initial and sign. Of course your builder might have a cow.
I suppose talking to a lawyer would be better however.
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