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The Cost of Home Improvement Fraud and Scams

The Cost Of Home Improvement FRAUD&SCAMS The Federal Trade Comission estimates that Americans lost $1.4Billion to fraud and scams in 2012 Oe1/3 70% Home improvement is a Poor workmanship is the $200 Billion #1Fear of homeowners have a fear of fraud when hiring a contractor. homeowners have when hiring a industry every year. contractor. of homeowners have hired a contractor for home repair. Home Improvement Scam "Red Flags" Their name, They are a door-to-door address, and credentials How To Not Become A Victim salesperson. are not They offer % you an incentive for Thoroughly research any 0 Interview several verifiable. They don't provide any references. contractor contractors before doing business with them. before helping them find other selecting one for the job. customers. They pressure you for an immediate decision. They cannot provide proof of insurance. They have a great price because They only accept cash. they "have material left over from another job." They ask you to go get any required permits. Most Common Contractor Scams #1Warning The Chimney Repair sign for homeowners that a contractor may be fraudulent is if they demand the money up front. V Roofing Repair Driveway Repair In 2011, the federal trade commission received more than NITED STATE COMMISSION 13,000 When interviewing a contractor, follow these guidelines : home-improvement-related complaints. Get the Ask when the contractor's full contact information. contractor will be able to start and how 24 long the project will take to complete. Make sure the contractor is appropriately insured, licensed, and bonded for work in Ask the contractor if they will be using sub-contractors. Make sure your state. Ask how much experience the contractor has. those workers Once you have selected a contractor are properly licensed, bonded, and insured. Pay for the job with a credit card or check and get a receipt. Never pay a contractor in cash. Always get a written and Ask for the contractor to break down the astimate by costs. Ask the signed contract for contractor if they have a warranty on their work. the job, no matter how big or small it is. If a building permit is necessary, have the contractor Do not pay for the job up front. Ask to be billed after it is completed. secure it in their name. If your If you are dealing with an insurance claim, check with your insurance contractor has made mistakes on Almost the job and tells you they need more 80% company to see if an money, do not give it to them. It is the inspection needs to be contractor's done prior to the start of the project. responsibility to fix their of people say that a contractor may be fraudulent if they are hesitant to provide proof of insurance. +$ own errors. While the work is being completed: Secure all valuables in If you notice what appears to be a problem with the job, photograph it before the house; do not leave them out where they could be 1O damaged or stolen. discussing it with your After the work is completed: contractor. If your Make sure all sub-contractors have been paid by your contractor. If everything is in order, pay the full balance and thank the contractor tells you the job price has gone way up, only pay what you agreed on in the contract. Sources : contractor for Make sure the job has been done to your satisfaction. their work HomeAdvisor 目 E

The Cost of Home Improvement Fraud and Scams

shared by jmcneely109 on Sep 20
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This infographic goes through the steps of researching, interviewing, and hiring a contractor to give the consumer the information they need to protect themselves against fraud and scams. Furthermore,...


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