How can a homeowner collect from an Arizona contractors' license bond?
How Much Can Be Paid from the Recovery Fund?
The recovery fund does not guarantee payment to anyone. If a homeowner is found to be eligible for payment from the fund, they can recover a maximum $30,000 per residence. An award shall not exceed an amount necessary to complete or repair the construction project.
The maximum payout for residential contractors license is $200,000. Once the $200,000 has been disbursed to be your claims no further payments from the fund against that contractor's license shall be allowed. See A.R.S. 32 – 1132. A and 32 – 1139. A.
Who Selects the Arizona Contractor to Make the Repairs?
After an award is made from the recovery fund, who selects the contractor to make the repairs? ROC or homeowner?
If you need help from an Arizona real estate attorney then contact Clint Dunaway at firstname.lastname@example.org or 480-389-6529.