My contractor is remodeling g my kitchen and putting in new floor.Cost of $26260. He wants upfront 50% then when cabinets delivered payment of 40% then final payment of 10%. I think his schedule is out of whack. I usual do o e third, one third and final payment Is an offer of 40% then 35% then final 25% reasonable Thank you Jean suprbean2002@yahoo.com
Good morning Jean, I am so glad you asked this question. Unfortunately, more times than not, people can get in trouble in these situations because of conflict, disputes or just financial issues. I would suggest whatever works for you, just tell him that is not enough to ensure your comfort in finishing the project.
One suggestion would be to tell him you will pay for the materials upfront, but have him show you each material invoice to make sure you aren't paying for anything additional.
Another suggestion would be to require Unconditional Waivers from him upon each payment you give him. That would state that he has paid all his suppliers, better yet is to require one from each of his suppliers to confirm there is no deceit.
Here is an article that might give you more incite to his side of things and how the process works, unfortunately it never discusses from the owners point of view, just the contractors
Thank you for reaching out to Levelset. Please let me know if I can help you in any other way.
Jean,
I'm so sorry you are going through this! Due to the specific nature of your situation, I would love to be able to help you better with this and truly believe our support team could assist in helping you with maybe a notice or demand or contract cancelation notice.
I will say that unfortunately contractors taking time to start residential jobs is typically a slow process as they usually have several going at a time. Did you get a waiver from him for the 40% you already paid?
Let me know if I can refer you to our support department to help you further with docs etc that could help you.