Custom Home Buyer's Story

BuilderPay Use Case Stories for Six Different Personas

The purpose of sharing these six BuilderPay user stories is to highlight the diverse challenges faced by different stakeholders in the construction industry and how BuilderPay provides tailored solutions to address them. Each story illustrates a specific use case, from trade contractors struggling with cash flow to custom home buyers concerned about lien releases, demonstrating how BuilderPay’s innovative platform enhances efficiency, trust, and profitability across various scenarios.

By showcasing the example for that custom home buyer, as the Project Owner, we aim to underscore the versatility and impact of BuilderPay in transforming construction project management.

Use Case Story 3: Custom Home Buyers

Background:

Sarah and Tom are custom home buyers who have hired a custom home builder to construct their dream home from scratch. They want to ensure that all project vendors are paid promptly and that there are no liens placed on their property.

Challenge:

Sarah and Tom were concerned about the potential for project vendors to file liens if they were not paid by the custom home builder. They needed a way to ensure that all payments were made correctly and that lien releases were obtained from each vendor.

Solution:

The couple's custom home builder introduced them to BuilderPay, a platform that facilitates secure payments and ensures lien releases from all vendors involved in the project.

Process:

Task Assignment: The custom home builder assigns tasks to project vendors through BuilderPay, specifying clear deliverables, deadlines, and payment amounts.

Completion and Verification: Vendors complete the tasks and upload evidence (photos, videos, or documents) though BuilderPay for verification.

Approval: Along with the custom home builder’s project manager, Sarah and Tom review the completed tasks and verifies acceptance of the work.

Payment: Once the tasks are approved, BuilderPay releases the payment to the vendors.

Lien Release: Upon task verification and payment approval, project vendors provide lien releases automatically through BuilderPay. 

Benefits:

Peace of Mind: Sarah and Tom are assured that all project vendors are paid and that there are no outstanding liens.

Transparency: The payment and lien release process is transparent and easy to track.

Security: Payments are securely held until tasks are completed and verified, protecting Sarah and Tom from potential issues.

Outcome:

By using BuilderPay, Sarah and Tom successfully navigated the construction of their custom home without any payment disputes or lien issues. Their experience was smooth and stress-free, allowing them to focus on enjoying their new home.