How to Hire a Good General Contractor

It is very important to choose a good contractor when embarking home-improvement projects. A good contractor helps make the process smooth, while an inadequate one can involve unnecessary financial and emotional hardships. Here are some tips to help you find the good contractor you deserve:

1. Get recommendations and references.
Do research on the contractors in your area and listen to the advice of family, friends, and other people in your community who have hired a contractor for similar projects.

2. Get more than one estimate.
Call at least 3 different contractors and insist that they each visit your home to evaluate what needs to be done. These evaluations will allow you to make meaningful comparisons.

3. Be conscious of contractor complaint records.
Check your state or local consumer protection agency or Better Bureau for this important information.

4. Make sure the contractor meets licensing and registration requirements.
It is important that contractors meet the expectations defined by these requirements. Your state or local consumer protection agency can help you find out what these are.

5. Ask suppliers if the contractor makes timely payments.
This will help you determine if the contractor is reliable.

6. Contact your local building inspection department to check for permit and inspection requirements.
If the contractor asks you to get the permit, it could mean that their firm is not licensed.

7. Make sure that your contractor has insurance.
It is important that a contractor has personal liability, property damage and workers’ compensation insurance for workers and subcontractors. It is also a good idea to contact your own insurance company to find out if you have coverage for any possible damage or any injury that could occur.

8. Insist that the contractor give you a written contract.
The contract should include all terms and conditions of what work will be done, what materials will be used, names of any subcontractors, and the total price of the job. If your contractor allows scheduled payments, this should be included in the contract as well.

9. Review and know your payment options.
Compare the pros and cons of your own loan versus contractor financing and choose the option that fits your needs best.

10. Make sure that the work is completed as stated by the written contract before you make a final payment or sign a final release.
If subcontractors were hired, you need to make sure that they were paid prior to your final payment and/or final release. If not, you could face serious problems. Some state laws allow unpaid subcontractors and suppliers to place a lien of your home for the bills that the contractor failed to pay.

11. If possible, pay by credit card.
If you use a credit card, you have the option of withholding payment to the credit card company until any problems are corrected.

There are many good contractors that fit all the guidelines listed above; however, there are also contractors to avoid. To stay clear of this mediocre group it is important that you be cautious if the contractor:
• Calls the job a “demonstration.”
• Offers you a reduced rate for finding other customers.
• Quotes a price that is extremely different from other estimates you received.
• Pressures you to make hasty decisions.

We hope that these tips help!

Is Your IRA Safe?

Individual Retirement Accounts (IRAs) are something of importance to everyone, especially those set to retire in the next few years. Americans are living longer than ever, and the cost of living is and continues to increase. This means that in order to have a comfortable future, we all need to start planning ahead for our retirement. While on the topic, some good news is that the North Carolina Supreme Court has confirmed that IRAs are protected from creditor claims. It is important to keep in mind though that there are some state law restrictions on these accounts. In a recent case, Kinlaw v. Harris, this exact issue came into play. In court, the Defendant claimed that his 2 IRAs were exempt from the Plaintiff's claims. The Plaintiff subsequently claimed that the Defendant could not use that argument as he used it to knowingly make himself judgement proof. After many litigation and appeals, the final Supreme Court ruling decided that IRAs are exempt from the account owner's creditors; however, there may be circumstances that involve an escrow agreement in which IRA owners have to agree to give a creditor notice of any withdrawals from his IRA in exchange for a court order that all of the assets inside the IRA itself are protected from attachment. IRAs are not covered by the Employee Retirement Income Security Act, so for a more complete understanding about the rules and regulations regarding IRAs be sure to look up the specific exemptions in federal or state laws. It's worth it to be in the know on such an important aspect of your life and future!

Local Real Estate Closing Pictures

 Some of our Recent Real Estate Closings!

Audio Clip of Rob's 4th Circuit Argument

Here's the link to the oral argument I made before the 4th Circuit Court of Appeals in the John McCormick Bankruptcy Case on December 7th. I represent Mr. and Mrs. Macky who lent $60,000 to John McCormick. My part is about 2/3 of the way through, after the attorney for Suntrust Bank opens and my colleague, David Rooks, speaks for the trustee. It was the longest 10 minutes of my life! But I think my argument was well received, and the judges seem to hammer the Suntrust attorney afterwards, even saying "Mr. Maitland said...." Keep your fingers crossed, we have been fighting this case for 5+ years!

http://coop.ca4.uscourts.gov/OAarchive/mp3/10-2027-20111207.mp3

Rob Maitland to argue before United States 4th Circuit Court of Appeals!

Rob Maitland is one step away from the United States Supreme Court!

It is estimated that approximately 88 million cases are filed at the state level in the U.S. annually. Less than 1% of all cases are appealed to the intermediate state level. So it's very rare when your case is appealed from State Court to Federal Court and then chosen to be heard for oral arguments at the U.S. 4th Circuit Court of Appeals. The only appeal higher is the United States Supreme Court.

On December 7, 2011, Rob Maitland will be arguing for Marc and Maryann Macky in Suntrust Bank, N.A., v. Macky, Northern, et al before the U.S. 4th Circuit Court of Appeals in Richmond, Virginia. The case arises from a case of first impression involving Orange County's real estate recording index which is unique to all other counties in North Carolina. Rob represents Mr. and Mrs. Macky who properly recorded a deed of trust in first position to secure a loan.

The problem? Suntrust Bank thought it had recorded a lien on the same property and one other several years earlier, but only put one Parcel Identification Number (PIN) on the deed of trust when it was recorded. Because Orange County registers all properties only by PINs, the Suntrust deed of trust was only effective against the one property and not the property the Mackys placed their lien upon. So, the Mackys are protected and Suntrust is not.

To make things more interesting, this case arises from the bankruptcy of John McCormick, a notorious local attorney who allegedly absconded with several million dollars of clients' trust funds. If Rob and the Mackys prevail, the Mackys will be paid the full amount owed to them by Mr. McCormick's bankruptcy estate and Suntrust will not be considered a "secured creditor" by virtue of its defective deed of trust. Suntrust will join the pool of "unsecured creditors" to be paid from the bankruptcy estate on a prorata basis. If Suntrust prevails, the Mackys will still be in a secured position but the Suntrust lien will likely swallow any equity remaining in the property and thus the Mackys will effectively become unsecured creditors.

So far, Rob and the Mackys have won at the Durham Federal Bankruptcy Court (twice) and the Greensboro United States Middle District Court. Keep your fingers crossed they win in Richmond!

9/27 Chapel Hill 2020 Meeting- East Chapel Hill HS

Rob Maitland is proud to have been appointed to be a leading member of Chapel Hill's 2020 Project, a new Comprehensive Plan to reexamine the vision for Chapel Hill and our community's future. The new planning and visioning document will create a framework for the community to guide our Town Council in managing Chapel Hill's future over the next 20 years.

Rob believes that too often politics can be controlled by vested interests on the extreme 10% of each side of an issue. Chapel Hill 2020 is committed to hearing the voices of the "80% of us in the middle" and that's why we encourage you to participate in the process. Now is your chance to make a difference!

The first meeting is from 5:00-8:00 p.m. on September 27th at East Chapel Hill High School. Please come for all or part of the meeting, child care is available. You can get more information at http://www.chapelhill2020.org/

Hire Power

Hiring A New Employee Takes Preparation

If you want to grow your business, sooner or later you're going to have to get some help. But hiring can be tough. Sure, it's nerve racking when you're the one looking for a job. But surprisingly, it's also intimidating when you're on the other side of the desk, looking to hire just the right person to help grow your company. With the proper preparation, however, you'll find just the perfect person or people to add to your team. You won't have to do everything alone, and they'll help take your business to the next level.

Ten Hiring Do's and Don'ts:

DO write a clear job description. It is tempting to just jot down a quick job description when it's time to place a help-wanted ad. But developing a clear job description is actually key to hiring success. It helps you attract exactly the right applicants, saves you time and helps you understand exactly what interview questions to ask and what tasks you'll assign to your new staff member.
DO be realistic. While it's typical in a small business for people to wear many hats, consider whether one real live person can manage very different tasks.

DO interview several candidates. Even if you're really excited about on applicant, you'll have a better idea if he or she is really the right person for the job if you interview at least three prospects in person.

DO be prepared. When interviewing, have a list of questions ready and be sure to ask the same questions of every candidate, as well as questions based on each individual's own resume.

DO hire for attitude, train for skills. If you find someone with a can-do and will-do attitude, that'll be more important in the long run, than someone with exactly the right experience or education. Look for willing, eager-to-succeed employees and train them for the specific job tasks.

DON'T be in a hurry. Keep looking until you find the right person. Of course, you'll never find someone who's exactly perfect, but filling a position just because you need someone now is likely to lead to problems later.

DON'T do all the talking. When you're conducting an interview, it's typical to just start talking. You'll want to tell the applicant about the job and your company, but you won't learn enough aout an applicant if you do all of the talking.

DON'T be overly impressed by credentials. It's easy to be swayed by names of big corporations or leading universities on a resume. But remember, you're looking for the best candidate, not the best resume.

DON'T be swayed by your first impression. For important jobs, arrange for a second in-person interview with your top prospects. Also be sure to check references.

DON'T make - or imply - promises of job security or future raises. For legal reasons, be careful not to say anything that can be misinterpreted as an implied contract, such as "I never fire anyone," or "You'll be here for at least five years." It's a good idea to give new hires an offer letter by spelling out their pay and benefits and making it clear that they're an at-will employee (meaning you can terminate them without cause).

We hope that these tips helped! If you would like to see the original article, check out The Costco Connection, Hire Power, by Rhonda Abrams.