A family members home had a partial burn (first 3 rooms of the house) she asked me to be general contractor on the job (my specific field is hvac/mechanical contracting) so I am subbing the work out to other contractors. This is my first time dealing with an insurance & mortgage company however..
I made a contract with the family member, insurance company sent check to mortgage company who released 20% of the funds. They instructed me to notify them when 50% of those funds had been used up. I did that today.
They however asked for an itemized price list of everything that still needs to be completed in the home and how much more money I believe it would take to complete the home...
Is that standard procedure?
Are they trying to re-negotiate the contract price?
Can anyone give advice about how to handle them and anything I should be aware of when dealing with them?
Thank you all so much..I greatly appreciate any advice.