house extension.
2006-08-21 10:19:04 · 5 answers · asked by Adrian S 1 in Home & Garden ➔ Maintenance & Repairs
Retention is typically 10% in the building industry. This would be held from each progress payment and payable upon completion of your Punch List at the end of the project.
2006-08-22 05:14:35 · answer #1 · answered by big_mustache 6 · 0⤊ 0⤋
The retention on monies owed a home builder also deserves a good plan that would benifet both of you.
I would suggest a 10% retention payable upon final completion of the punch list and an inspection by a qualified inspector. Included in the deal would be a HOW plan and a full warranty, both for a minimum of 1 year and both by the builder.
2006-08-21 15:15:20 · answer #2 · answered by duke1414 3 · 0⤊ 0⤋
20%
2006-08-23 19:56:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Accepted amount is usually 10% for six months.
2006-08-22 04:27:53 · answer #4 · answered by Anonymous · 0⤊ 0⤋
15% FOR 6 MONTHS
2006-08-21 10:25:18 · answer #5 · answered by Anonymous · 0⤊ 0⤋