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THE BUILDING SWINDLER
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Family Counselor Ed Hotchner told Terry, "The best, way to make sure of getting your money's worth is to seek competent advice before, not alter, you buy or build."
here's no better time for caref thought than before you spend money for a new home." That's what Ed Hotchner told us when he visited the Burtons as a Family Counselor. Mr. Hotchner recently completed an extensive investigation on home buying and construction, hoping to find his dream house.
To anyone interested in real estate, he suggested looking out for: 1. too good a bargain; 2. the salesman who wants too much in advance; 3. the over-eager salesman who high pressures you into buying a house or lot other than the one in the advertisement you might be following up; 4. the salesman who wants to close the deal right on the spot without giving you time to think the thing over.
Mr. Hotchner also advised, "Always be on your guard against making impulsive down payments." To prove this, he told the story about a builder in Texas who was indicted for swindling eight citizens of Houston of $20,000, by taking down payments on homes which were never built and which he never intended to build. The man pleaded guilty and received a ten-year prison term, but the money had been spent and none of his victims got a penny back.
In addition he told our CBS listeners, "The way to guard against unscruplous contractors," he said, "is to investigate the man before you make any down payment. Ask about him at your bank, your Better Business Bureau, building loan companies or a lawyer. You can also protect yourself by paying for the job only as it is done.
"Another thing — if you have fully paid a contractor who has hired various workmen to work on the house, these workmen can file a lien against your house if the contractor does not pay them. If this happens you end up by paying nearly double the value of your home. So always make your contractor show you paid bills for labor before you give him his final money."
Wednesday is Family Counselor Day on the Second Mrs. Burton, heard M-F, 2 P.M. EST, CBS. Sponsor: General Foods.
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