Any contractors out there? How do you usually ask for payment?

Question

I need some roofing, siding and drywall done on my home. I wanted to know, do contractors collect money at the end, or upfront of a job. Thanks, I'm a new homeowner.

Answer 1

Each one of those jobs require a free estimate in writing. Get more than one for each. Then you can decide how much you are willing to pay to get the job done. Check out the contractors. Ask them if they have a contractors license number. Check with the better business office to see if any complaints have been filed. Ask them if there is any job you can look at that they have done, possible references. Don't be shy.
Know how much a job is worth!!

You can go to the Realtor who sold you the home, if you like them, and ask if they have anyone they use to do jobs. Sometimes you can get a good deal that way. They have people that they use. Make sure that you get the roof heat sealed. If you have mold make sure it is all removed and washed down with bleach. No trace left before you close it up! Dry everything. Use masks.

You ALWAYS pay at the end of the job!! After the job is completed. I've never paid up front any amount of money to get a job done. I have had my home re piped at a cost of $3,000. I have had a new roof put on which I got a great deal through my Realitor, paid $3,600. Had a new forced heater installed for $2,200. And a new A/C for $1,100. The jobs were completed and then I paid. If they can not afford their supplies then you don't want them working on your house. Means they arn't too successful at what they do.

Make sure you have home owners insurance so no one can sue you if they get hurt on your property but also make sure that anyone you hire has insurance on themselves. You want a professional to do this work. Someone who has a crew who can come in and strip the roof and check the wood and decide if it needs to be replaced and then another crew will come in and put the roof on. Ask if they are going to pick up the old roofing. You don't want them to leave a mess. They'll need truck and heat sealing equipment.

Answer 2

I ask for 50% when I deliver the matrials to the jobsite(unless it's a one day job or I've done "good" business with the client previously) and 50% when the job is completed. For jobs that take a couple weeks or more I ask for 50% when the materials are delivered, 25% half way through the job and 25% when completed. This covers my materials(obviously) should the customer decide they don't want to pay when the job is completed and my labor costs for longer jobs. It's amazing how many people don't have the balance of the payment when the job is completed. Never pay for a job before it's "totally" completed as stated in the contract.

Answer 3

Ive always asked for at least 50% to start and depending on the job i ask for draws for the other trades as they progress thru the project. Ive been a contractor for almost 30 years and have had very few problems with this policy

Answer 4

Contractors normally would require at least 30% of the total cost for their purchase of materials before commencement of job since yours is a costly project. Some may require progressive payment and pay in full at the end...

Answer 5

I AM A CONTRACTOR, I USUALLY ASK FOR 50% OF THE BILL,
THIS IS TWO FOLD, AS I HAVE GONE OUT AND PURCHASED MATERIALS ONLY FOR THE CUSTOMER TO THEN DECIDE NOT TO PROCEED, IT IS A GOODWILL GESTURE TO PAY SOME UPFRONT, THE CONTRACTOR WILL THEN BE SECURE IN THE KNOWLEDGE THAT YOU INTEND TO PROCEED. STAGED PAYMENTS IS ANOTHER WAY TO PAY, WITH A BALANCE PAYABLE ON COMPLETION

Answer 6

Contracters take a portion up front. Usually you will be given an estimate or bid first. If not, ask for one. They have to give you one. If you can get it in writing, even better.