4 ms·
If previous poster's description is correct, they would have to, right? Or have a revolving fund of debt which is the same thing with extra steps. Builder doe
by woooooo 3y ago
If previous poster's description is correct, they would have to, right? Or have a revolving fund of debt which is the same thing with extra steps. Builder doesn't get paid until after building things, the construction has to be paid for somehow.
I guess the money being in escrow puts the risk on the builder instead of the buyer.
- Sakos 3y agoIirc, Evergrande took on debt to pay for construction and used the money paid by customers to service those debts. That's the missing step.