Everything Attachments - Bankrupt?

[mcmxi]

The next important thing you missed is that the work is done with a contract and a pay schedule. The amount of the down payment is negotiated if the owner is paying without using a lender. 1/3 down is not normal and shouldn't be accepted by the owner. If a lender is involved, they dictate the pay schedule amounts. The contractor doesn't get paid until they have met the milestones defined in the contract. If a lender is involved they require a third party inspection to verify the milestone has been meet. Then because a contract is involved the contractor can be held on civil and criminal charges.

And how did that all work for the parties involved with EA?

As for you being a contractor, what does that have to do with anything? 50% down before anything gets ordered is common with HVAC companies and others. Just because it's A in your world doesn't mean that it's A in everyone else's world too.

Based on some posts here, Homestead requires full payment up front with a 2 month estimated delivery time.

 

[MapleLeafFarmer]

I thought lots of businesses require full payment in advance??
i didn't think they were all that unique.

my business you pay in advance.

stuff bought from Amazon.com pay in full days and/or weeks in advance of delivery
Vacation packages months in advance of travelling paid in full
Airline tickets months in advance of flying paid in full
prepay in full to rent the local ice rink month in advance in full
grand kids private school is paid year in advance
tickets to the Super bowl were bought year in advance in full
Bible camp for the kids paid year in advance in full
custom made suits paid a couple months before tailor delivers in full

i'm probably wrong . often am.

 

[mcmxi]

Five minutes of searching and I've found many, many examples of pay up front or put down large sums of money requirements. I bought a boat in late 2022 so I did a 30 second search on ordering a custom boat. Here's one of hundreds of examples.

"I also bought a fishing boat last year that wasn't in the dealers inventory (custom ordered directly from the factory) This was thier sales protocol which I knew at the time of committing to purchase the boat: 25% to order the boat, 50% upon delivery to dealer, and the remaining 25% upon taking delivery. If the terms of payment were not clearly stated in the sales contract I would guess you and the dealer are believers in a gentlemans agreement. As a business owner myself, I often end footing the bill on material costs until folks find it financially convienent to take ownership. I now take this into consideration when setting my prices and also take it into consideration to give a price break when someone pays in full upon ordering. In the end, things usually work out but it really hurts when you are rightfully expecting the money."

 

[rh74]

I thought lots of businesses require full payment in advance??
i didn't think they were all that unique.

my business you pay in advance.

stuff bought from Amazon.com pay in full days and/or weeks in advance of delivery
Vacation packages months in advance of travelling paid in full
Airline tickets months in advance of flying paid in full
prepay in full to rent the local ice rink month in advance in full
grand kids private school is paid year in advance
tickets to the Super bowl were bought year in advance in full
Bible camp for the kids paid year in advance in full
custom made suits paid a couple months before tailor delivers in full

i'm probably wrong . often am.

Well, let's start with Amazon, they have the item in hand and ship it once you paid in full. That is no different than you going to a store a buying something. The rest of stuff you paid for in advanced, is a risk you are taking. If you're okay with taking the risk, so be it.

 

[rh74]

And how did that all work for the parties involved with EA?

As for you being a contractor, what does that have to do with anything? 50% down before anything gets ordered is common with HVAC companies and others. Just because it's A in your world doesn't mean that it's A in everyone else's world too.

Based on some posts here, Homestead requires full payment up front with a 2 month estimated delivery time.

Well the EA building is going through the legal system. That's the nature of custom builds, it's a high risk business and that is why things cost of much.

As for me being a contractor, it's in response to your post about how contractor's do business building a new home or remodel. Which again is completely different than buying a catalog item from vendor like EA.

If someone buys from Homestead and they don't get the item. Well that's on them and they shouldn't complain about it after the fact. It doesn't matter how many times Homestead delivered in the past, it's not guaranteed they will in future. Paying in full for something that someone else doesn't have in hand is a huge risk.

 

[DDCD]

Can we close this thread already…nobody wins on these EA threads.

 

[jimh406]

Can we close this thread already…nobody wins on these EA threads.

It's the same one.

 

[hdflame]

I hope you get it resolved and get all of your money back. I'd like a hydraulic rear blade such as the Land Pride RBT3596. They're around $4,750 up here. I should never have sold the RB3796 that I bought new for $1,750. It didn't have hydraulics but it was set up for hydraulics if desired.

Land Pride

www.landpride.com

I bought the blade and rake so I could change them out. $6,053.49 total for both pieces! I was really looking forward to getting them. I already have the land plane and love it. Very well made. I'd much rather have the blade than a refund but I'd rather have my money back than nothing! I've got an appointment with my bank in the morning to file a claim to get my money back. If they somehow stay in business I'd buy another but I'd go pick it up. I would never put another one on order and let them charge me for it before shipping!

 

[GreensvilleJay]

The ONLY winners , will be the Lawyers......

 

[hdflame]

Can we close this thread already…nobody wins on these EA threads.

I was one of those that was trusting because I'd met the owner and saw the plant where they're made and had no reason to expect them to go bankrupt before delivery. I thought the reason for a 4 month delay was because they were so busy buy now it seems they were already having problems even before I ordered mine.

I beg to differ that nobody wins in this thread. If I can help just one trusting person from losing their hard earned money like me, then I think that's a big win for that person. I would hate to have someone else lose money. And maybe by others reading this they won't allow a company to take payment in full before delivery. I know I will never let it happen again no matter how much I want something!

 

[Chad D.]

Another vote to close the thread. It’s not going to get better, only further derailed.

Good topic, but it’s ran its course.

 

[North Idaho Wolfman]

I don't want to close it as this is an active situation that can still affect people.
Some members only log on every now and then.
And some of them may or may not have either already ordered implements or are thinking about doing it.

 

[Chad D.]

I don't want to close it as this is an active situation that can still affect people.
Some members only log on every now and then.
And some of them may or may not have either already ordered implements or are thinking about doing it.

Not a bad point, and I appreciate that you’re willing to let the conversation continue.

Would be nice to see the topic snug up a bit though…. Folks are still being civil with the beating of the dead horse! That’s probably the most important thing.

 

[North Idaho Wolfman]

Not a bad point, and I appreciate that you’re willing to let the conversation continue.

Would be nice to see the topic snug up a bit though…. Folks are still being civil with the beating of the dead horse! That’s probably the most important thing.

Oh I am watching and reading, and yes I'll squash anyone like a bug that gets rude, or uncivil.

 

[GreensvilleJay]

I'd like it kept 'up and active' , so others can report IF they've applied for a 'charge back' and did they get it, to see new facts coming to light (like Ted owes $50+K in property taxes in addition to $52K on the EA property ). Someone here, maybe another thread , said dealer wrench time is $150/hr in NC. Makes me wonder what the EA employees were getting paid, did they have benefits, maybe a pension fund ? Did watch the News9 (?) video so it sounds like 'everyone' now KNOWS about the situation, so I'd expect some kind of 'legal paperwork' to be issued fairly soon.

 

[GeoHorn]

EA is in-contrast to my present situation….wherein I called the folks that custom made my pallet forks to ask what a SSQA would cost me for my loader… and they emailed me the drawings for my approval before they committed… I‘ve been contemplating for almost two weeks whether or not I actually WANT the thing….and they’ve now called and informed me it’s been fabricated and is ready for shipment…. They’d prefer payment before having FedEX Express pick it up.

 

[fried1765]

Can we close this thread already…nobody wins on these EA threads.

Why close it?
I would assume that people want to know what is really going on.
Burying head in sand/ignoring reality,.... is that good?

 

[jimh406]

I would assume that people want to know what is really going on.

I don’t disagree that people want to know what is going on, but this seems like opinions with very little fact.

 

[TheOldHokie]

I don’t disagree that people want to know what is going on, but this seems like opinions with very little fact.

Pretty much the way news works these days. You need a good filter and a strong stomach to filter through it. Theres value here but signal to noise ratio is poor. I see no need to shut it off by fiat. Nobody is forced to continue reading the thread.

Dan

 

[MOOTS]

I don’t disagree that people want to know what is going on, but this seems like opinions with very little fact.

Is today your first day on the internet? Welcome.

I say let it run.