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Insurance Company Says Flooring Is Structural???

 
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Old 06-13-2017, 05:19 PM   #1
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Insurance Company Says Flooring Is Structural???


Hi all! This is my first time posting but I've been hanging around for a while. My husband and I own a small restoration company in FL. We are 95% complete with a fire restoration job. We've been having problems the whole time with the mortgage company releasing draws. The agreement with the mortgage company was we were to be paid complete after the 90% inspection barring no structural issues.
Now at the end they are holding 14k over flooring with the claim that they can't release funds because carpet and vinyl are structural. We are waiting for the homeowner to get HVAC repaired (that's another story!) to get flooring out but what the heck--flooring structural? Anyone else heard of this?
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Old 06-13-2017, 05:40 PM   #2
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Re: Insurance Company Says Flooring Is Structural???


No, never heard of flooring as being structural. Probably listed as what needs to be complete in their draw check list.

Also, getting paid 100% at 90% complete seems rather odd.

No retention? Yes even in residential work their is retention until 100% complete and punched out.

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Old 06-13-2017, 06:22 PM   #3
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Re: Insurance Company Says Flooring Is Structural???


I mean them releasing the funds to the homeowner--check is written in company and homeowner name. We of course are going to finish the job completely to satisfaction before we actually get paid but it takes 2 1/2 weeks after an inspection to get paid with this company. That's why we are frustrated because we are done with job. We (Contractor and Homeowner) want funds released especially because it's a large amount without waiting another 2 1/2 weeks for another inspection based on their bogus excuse of flooring being structural.

The inspection and final draw was at 90% the inspector signed off that we were 95%. They said structural. Also, title says insurance. Problem is with mortgage company.

Last edited by MorseRebuilds; 06-13-2017 at 06:24 PM. Reason: *we are done with job minus flooring which is scheduled.
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Old 06-13-2017, 06:27 PM   #4
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Re: Insurance Company Says Flooring Is Structural???


And her exact reason was "we cannot pay out on the job if the inspection shows incomplete structural issues and flooring is incomplete". I explained that the home has floors it just needs carpet and sheet vinyl which we are waiting for AC for and she says "flooring is structural". We argued it for a while.
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Old 06-13-2017, 06:30 PM   #5
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Re: Insurance Company Says Flooring Is Structural???


Check with the mortgage company although flooring is not structural it probably shows up on their draw checklist as needing to be complete before releasing funds.
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Old 06-13-2017, 06:35 PM   #6
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Re: Insurance Company Says Flooring Is Structural???


They don't have a draw checklist. Believe it or not they wouldn't even give me a written draw schedule. I pushed for both. It's a super small company PHH Mortgage. Really nice customer service people but they make you work on the office side! They are really sticking to the it's structural. I guess we gotta jump through the hoops but it stinks to wait another month to close the job out.

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