Tuesday, July 10, 2007

Down to Work

July 10, 2007 - Check has arrived from Sentry and sent to the bank for deposit. To my chagrin, the claims adjuster put 4 months worth of loss-of-rent coverage in the same check as the property damage. Not the biggest problem in the world, but the bank will need to deposit the money then cut me a check.

So now it's time to get the contractors to work. I've selected a local guy and am now getting him to produce paperwork so we can get the ball rolling. The process so far:
  • Mortgage company sends check for ACV, sets up account for me to draw on.

  • Contractor submits estimate, draw schedule and W-9 to mortgage company

  • As work is completed, money is paid out.

  • At some point, mortgage company will send inspector to evaluate work.

Following up on the call I received from Erie Insurance; the claims adjuster they sent in is on vacation for the next three weeks. I thought Erie was from Pennsylvania not France? Maybe I'll hear something by, I don't know, August?

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