From yesterday’s Arizona Daily Star- it looks like Tucson homebuilder Sonoran Insights Construction is in trouble:
A Tucson company that styled itself as a luxury homebuilder is no longer allowed to build houses because the state has suspended its contractor’s license.The builder’s license with the Arizona Registrar of Contractors is suspended for failing to answer a complaint lodged by a home buyer. The company has 14 open complaints filed against it — a red flag, according to agency spokesman Brian Livingston. Two additional complaints were resolved.
Unhappy customers and a suspended license aren’t the only problems- subs are unhappy as well:
A subcontractor claims Sonoran Insights owes hundred of thousands of dollars to around 20 subcontractors.
Danny Butler, controller at Stan Greer Millworks, said Sonoran Insights has stopped returning his phone calls and hasn’t paid him. He said he is owed close to $40,000 and other subcontractors he has spoken to are owed as much as $130,000.
The officers of Sonoran Insights, Pepper and Sheridan, founded a new LLC, called Corona Homes, about 12 days ago.Also listed as an officer in the new company is Mitch Kring, the construction manager of Sonoran Insights and owner of Acacia Construction LLC, which also was formed about 12 days ago.
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I hope my sister is getting paid. She installs AC units.
an’t the subs just putt a lien iont the properties?
Metroplexual-
The lien won’t help much if a builder is in bankruptcy and the property doesn’t sell. Maybe the sub will get paid, if he can hang on long enough.
Chicago recent experiences-
Subcontractors liening new condo conversion discover 80% of the sold units have 2 mortgages ! 90% financed, unsold units down the hall and subject to liens !
evil doc -
So do any of the players have any money / skin in this game?