Whenever I interview construction or repair men for home improvement projects they always say they require 1/2 down payment.
Asked by:rekab
How Can I Avoid Paying 1/2 Down on Construction or Remodeling When I Wish to Pay When Job Is Completed?
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They have to get materials and labor on the front end. Be realistic.
Why don’t you contact your state contractor licensing board to find out what is legal. Some states only permit a contractor from obtaining a small down payment up front.
Also, you can go to your bank to obtain a “construction loan”. They will work with the contractor on the payment schedule, releasing funds according to the plan.
You can’t. Standard is at least 1/3 in advance, 1/3 at the halfway point and the last 1/3 when done.
Some do half down, half when finished.
That’s life.
The posters are correct. No contractor will front the materials costs and permit fees. It’s too risky. Not a law, just common business sense.
realtor.sailor
How do you expect them to pay for the materials and pay their sub contractors? How do they know you aren’t going to stiff them and not pay for the job when they are done?
LOL