Illinois  |  Construction Law

Legal Question

Asked on: 4/24/12, 10:04 pm

I provided a punch list at the time of close for my new home. The builder's attny agreed to the items presented. A few months later the builder said he would not honor the punch list or the warranty because he has no funds and is closing shop.

Does Illinois require that money be put in escrow for punch list items at time of close?

If so, what party is responsible for this (builder, title company, bank?)

If I can recieve a judgement against the builder, would I be able to pursue the judgement through the builder's bond?

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