CASE STUDIES

We have all heard the stories: contractors who go under, home owners who fail to pay for work completed. We receive calls every week from both home owners and contractors who have found themselves out of pocket because the contractor has disappeared or gone bust, or the home owner is refusing to make payment for works properly completed.

Below you will find a few case studies to remind you why using BuildSafe is the best way to make sure your money is safe, the work to be done is completed correctly, and work completed is paid for without delay.

CASE STUDY 1 - THE BUILDER GOES BUST

Recently we received a phone call from a couple in the North Island.  They had entered into a contract for a new home and on signing the contract, the builder required a deposit to be paid directly to his bank account.  The home owner paid the $50,000 "required" as a deposit to the builder and, before ANY work was done on their new dream house, the builder went bust.  The end result was that the home owners lost $50,000 of their hard earned money - and there is no way that they will get their money back.  If the owners had put the money into the BuildSafe Trust account, it would still be there so that they could get another builder to do the work.

 

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At the end of a renovation project on a villa, the builder gave his final account to the home owner.  The final account was approx 10% more than the estimate as the owners had asked for numerous variations during the renovations.  For example, they made the deck bigger and they decided to redo the floor with new laminated flooring. After trying to get payment for the work properly completed, the builder ended up agreeing to the final account being reduced by 50% so that he could get some money paid.  Had the builder had that money in the BuildSafe Trust Account, he would have got his money as soon as he showed that he had properly completed the work.
 

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CASE STUDY 3 - THE BUILDER WHO NEVER CAME TO SITE