Escrow - $ held for items not completed at closing

[tammyv]

I purchased a home on September 15, 1998. There were several items
(around 15-20) on a punch list that I was told were to be fixed in
30
days. At the date of closing my inspector and mortgage company
held
$3500 in escrow for a couple of large things that needed to be
completed. These were laying of the sod (which the builder tried
to get
out of until will pulled the covenants of the subdivision),
wallpaper
completion and installation of the gas logs. The gas logs were not
installed for about 60 days after closing and didn't even get the
gas
log key until September of 1999. There are still several things
that are
not repaired on the house. The builder after 14 months is now
asking me
to release the money in escrow since it isn't being held for the
items
that are left to be repaired. I told the builder that if my
mortgage
company and the inspector agreed that it could be released and the
attorney holding the escrow would release but I wasn't agreeing to
sign
anything to release the money in escrow until I had my problems
that
have been around since the closing a year ago settled. If the
repairs I
had where minor it would be different but I have one major repair
I have
been asking to be solved for a year now. They poured two sections
of the
drive way slanting in towards each other which causes a "saucer"
effect.
When it rains or you even wash a vehicle water stands in the area
for
days. It is also a hazard in the winter when the water freezes and
it is
just a sheet of ice. My child fell last year trying to get into
the car.

I want to do what is right and legal but at the same time I feel I
should have this drive way corrected before I release any money.
As I
said the money was stated to be held for the items I mentioned
before
not the driveway and if the mortgage company releases it and the
attorney turns it over to the builder that is fine. I just feel if
I
sign something agreeing to release this money I will never get
this
drive way fixed.

Any advice

 

[LorettaL]

Once you sign away the money to the builder you may have a much more difficult time getting them to respond to your complaints. I would put all of your demands in writing and say you are not giving up the escrow money until they are resolved. I would consider hiring an attorney if things start to get nasty.