I am a Jamaican-American currently residing in New Jersey, United States. It is my intention to return home soon, so I have been searching the Internet for local builders to build a home.

While searching, I located the site for a project in Montego Bay, where they were asking for an 85 per cent deposit within 90 days of contract signing.

I could not believe my eyes. Why would anyone deposit 85 per cent of the price before construction, given the many examples of rip-offs and construction breaches?

It is true that one could go to court, if not satisfied on final delivery, but that would be a nightmare of its own.

In the US (and here in New Jersey, in particular), I bought a house, newly constructed in 2002, and paid a deposit of 20 per cent at contract signing. The balance was due at closing when I examined the property and indicated my accep-tance and received the keys.

Short-term financing

Builders should seek to obtain a short-term business loan from a bank to finance their construction and repay when final settle-ment/delivery has been executed. They can use the signed contract(s) as collateral.

If the modus operandi outlined in the Montego Bay project is common to all builders in Jamaica, then I certainly would not be going that route to acquire a house.

I am, etc.,

GARTH DENTON

runner5353@yahoo.com

Florence, New Jersey