Buyers Beware Of Thomas Yianilos & Waterbrook Builders: Complaints, Lawsuits, Bankruptcy & Negative Reviews Galore
Waterbrook Builders is a residential general contracting company and home builder in Fort Lauderdale, FL. Waterbrook Builders has had a collection of lawsuits and negative reviews from clients. As a warning to others who are looking to hire them here are some bullet points to be aware of:
• They have been reported for serious construction failures that make their homes unlivable. Buyers have sued Waterbrook Builders and the owner Thomas Yianilos.
• Potential buyers should be warned about doing any business with Waterbrook Builders. They are nothing but trouble and are known for breach of warranty. Think twice before you work with this company.
Bankruptcy
In July 2008, The Daily Business Journal of South Florida reported that Tommy Yianilos, the owner of Waterbrook Builders, had filed for Chapter 11 bankruptcy. In the bankruptcy filing, Waterbrook Builders lists assets of between $10 and $50 million and a similar range of liabilities.
• The top unsecured creditors listed were the City of Boynton Beach, the Palm Beach County Tax Collector, and Vercon Construction Management.
Waterbrook Builders is insolvent and can’t pay its debts. The company is in a dire financial position and is unable to successfully undertake current or future home-building projects.
Lawsuits
Waterbrook Builders is facing lawsuits from several clients who have complained of poor workmanship. Clients indicate that the homes built are unlivable because of major construction faults. These clients want compensation. More clients will likely come forward and file lawsuits.
The lawsuits combined with the bankruptcy filing puts Waterbrook Builders in a bad legal position. Potential clients must be warned that this is a company that is unable to service its obligations; therefore, they stand to lose money if they decide to do business with Waterbrook.
Negative Reviews
Waterbrook Builders has received many negative reviews. A buyer on Yelp complains that the showers on his new home started leaking on the first day of occupancy after the house was completed by Waterbrook Builders. After involving experts, it was determined that the linear drains and shower pans of the house were installed incorrectly. The balcony railings were also not to code.
Another buyer complains that Waterbrook Builders gave promises that were never met. They failed to complete the house within 12 months as stipulated by the contract. Even after 21 months of construction, many things were still incomplete. After the house was complete, several issues were encountered including rust stains throughout the ceiling, shower drains leaking through the floors, and balcony drain leaking through the garage.
Because of the construction defects encountered, most of the houses have been unlivable and buyers have not moved in. However, Waterbrook has refused to honor their builder’s warranty.
The Bottom-Line
Buyers must avoid signing up for any homebuilding project by Waterbrook Builders. They will likely not deliver because of their current legal and financial troubles. Many negative reviews have been posted online about this company.
