Is there a maximum %amount of down payment a contractor can demand in Ohio?

Question

I have seen that in some states, contractors, by law, cannot ask for more than 33% down payment. just wondering if any such law exists in Ohio.

My contractor said if they received 50% the day of signing, they would start in two days.

They've already done the work, which is unacceptable. I was just wondering if there was anything unlawful about the way they went about the down payment. I keep discovering shady things with this company.

Answer 1

Not that I know of. I've never seen laws that say a contract can't ASK for a higher downpayment, only that they can't DEMAND a higher down payment.

Answer 2

As a contractor in Ohio we have been told by our attorney not to ask for more than 10% down plus the cost of any special order material. Ohio law also gives consumers 3 days to cancel the contract. Additional payments can be requested on completion of specific areas of work. If contractors request excessive down payments, walk away.