When we decided to buy our vacation/retirement home, we realized that we were going to need a lot of renovation to turn the house into a home, so we searched for the right contractor. As we received estimates of $80K and more, many of our new neighbors began informing us of their horror stories. The last thing we wanted was a horror story of our own. We decided that we would do the job ourselves. Instead of enjoying our new home right away, I would come down every month for a year and a half and do a total rehab myself. After it was completed, I thought to myself how beneficial it would have been to have a company that could help me secure my money so I didn’t have to do this myself and could keep my hard earned money safe. That was when Coastal Fund Control was born.
What is a fund control company? Well, International Risk Management Institute defines "a fund control agreement as an arrangement employing an independent third party to disburse the construction funds to the various trade contractors and suppliers on a given project. Often mistakenly believed to be a viable alternative guarantee to a contract bond, marshalling the contract funds and disbursing them pursuant to approved payments request migrates the possibility of a payment bond type claim. It does not, however, guarantee that the project will be built per plans, on time, within budget, and that all bills will be paid.” With that being said its there to protect.
There is that old expression that necessity is the mother of invention. So relax, hire a contractor to build the house of your dreams, and secure those dreams with Coastal Fund Control.