When and what percentage of total should I pay my contractor before completion?
10/4/2016 at 1:20:14 PM
I've had bad experiences before with contractors who use the advance I give them to purchase materials, to pay money they owe suppliers from previous jobs for other customers. I don't want to pay anything before completion, and some people have told me I shouldn't hire any contractor who insists on progress payments, down payments, or payments to purchase materials I've specified.
I'm about to hire a contractor for an extensive roofing task in Maryland, including deck repair, soffit and gutter replacement, and hi-end asphalt shingles.
10/4/2016 at 3:51:59 PM
Your situation is very common. Me being a contractor I look at this a few different ways. You have a big job on your hands. The contractor should not have to pay to fix your roof or your house. Providing him with upfront money will help cover upfront cost. Also, he should not request another draw until the percentage of work had been completed. That let's you see that they are working and covers both parties. I also.look at it like this, money down is like earnest money. You both are committing to this project. So if you give him money then you are trusting he will be there to work. If he takes the down payment then he is committed to be there. I have had many home owners not give money down and then when we show up to the project, the owners say they found someone cheaper. When they show up to work just give a 3rd draw. Based on percentage. Then payout that same way till the job is done.
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