08-20-2016, 12:29 PM
(08-19-2016, 04:29 PM)McC Wrote: I am a concrete contractor. For residential work, we require a 40% deposit payable at the beginning of the second day of work. It locks the home owner in. For years, we never asked for anything until the job is done, After having ben burned a couple times, we started collecting a deposit.
We never ask for it until the job is underway.
I know a lot of other contractors and they all operate the same way. I would go so far as to say it's standard practice these days when doing residential work. Commercial work is different for us. We require no deposit for commercial or municipal work, mainly because you might ask but you won't get it.
I strongly urge any homeowner to require references for any contractor. Good ones, legitimate ones, like me, have a long list of references. Bad ones don't.
I can understand why any contractor would require part of the money up front. And if the contractor is purchasing the building supplies I assume that would have to be paid first also.
What about the lien waivers? Have you ever been asked to sign anything like that, and would you?
