Over the past several months, TRU Investigations has been inundated with cases involving shonky builders. Many of our clients have found themselves in difficult situations after their shonky builders have gone bust, leaving them high and dry. Clients often end up in a dire situation where they are renting while also paying a mortgage for a home that isn’t completed or in some cases, never even started. In many instances, they only recover a fraction of the money they’ve paid, with builders’ insurance providing limited compensation.
The sad reality is that it’s all too easy for these builders to walk away from their obligations. They often close one company and simply create another, leaving clients in financial turmoil with little recourse. To make matters worse, many of these shonky builders lack assets or cash, making debt recovery nearly impossible.
However, if you’re using a builder who is a sole trader, there may be more protection. Sole traders often own personal assets, such as a home, which can be pursued. This provides a more tangible avenue for recovery compared to companies with no assets to their name. It’s also worth noting that due diligence should be taken with any builder that you may engage.
At TRU Investigations, we are dedicated to protecting homeowners by thoroughly vetting builders and contractors before any contracts are signed. Don’t let shonky builders derail your project and leave you out of pocket—reach out to us today to ensure you’re working with a legitimate, trustworthy professional.
The above is provided as information only.
Wayne – Chief Private Investigator @ TRU Investigations
Office: 08 6556 6428