We have acquired Single Family in Birmingham and Alabama and right now we are ...
Good morning everyone,
We acquired Single Family in Birmingham and Alabama and right now we are in the process of renovating the property.
We currently need to close with the contractor a contract of work, what do you think is important in closing the contractor? The amount of steps? How much money per stage? Reasonable time to do a job? Control his work? Important things to put in the contract? Including emphases.
Thank you all.
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- following
- following
- following
- You will find a good contractor. You will receive a scope of work that includes renovation and scheduling prices and will sign an agreement.
- Hi Roy,
Before starting work with the contractor you need to sign with him:
- An agreement that regulates your relationships
- The scope of work content agreement for each stage you will need to check that the work has been done on the ground and its quality!
And only pay him. - Hey, if you ask such questions you should find a construction supervisor to accompany you.
- If you can, just as important
Set the end of a job.
If he is late there is a fine. If there is a prior incentive. Of course, it depends on the contractor. - I want to clarify a few things:
- We received an offer from a contractor who wants half the amount of renovations in the first stage, of course not happening for us. I wanted to know from the experience of someone who answers how many percent are given on an advance and how many steps did you have to do in renovations?
- The cslb allows the contractor to take down payment up to 10% of the sum or $ 1000 no more.
If the renovation is $ 120,000 it is allowed to take up to 1000 $ down payment, if the renovation is $ 7000 it is allowed to take up to 700 $. Then come all the stages of payments that you pay only that ends a certain renovation phase. - Many times a general renovation of a house is difficult to work according to percentage. There are stages in which the contractor needs more money in order to get ahead of work on each case should be checked
1. That the contractor is insured and ask for his funding to issue you an insurance certificate with your name that comes directly from the insurance company
2 should make sure it has all the licenses
3.In bidding the contractor should detail how much each example example costs plumbing for the whole house. $ 2,500.00 material
At $ 3,000.00 all together $ 5,500.00 So on the start give $ 1,500.00 after initial review can give another $ 1,000.00 and so continue on all the renovation vehicles should also understand that the contractor is not need and / or fund from his pocket all the work
When you sign the contract, for example, you give a large $ 4 job to close on a date to get started and make sure that the contractor fills all the permits in the municipality and only after that and everything is approved can I give more money according to what I wrote above? 500.00 / 1 -3 / 1 -3 / 1
The third one is given after all the final reviews and the whole work is over
5. It is of utmost importance to create trust between the contractor and the investor
Another reason to detail the exact work is in order for the customer to know that the toilet costs $ 200.00, for example, if he wants a toilet $ 250.00 the investor will pay the difference - When examining the price quote, the price of the material must be ascertained according to the price, and it is necessary to ensure that the contractor constructs the price quotation for the goods. At least, for example, there are toilets from $ 100.00 to $ 400.00
- You will find a project manager who will earn a percentage of the final profit and supervise the work on your behalf, or an in-house inspector to check that the work has been completed as agreed.
In terms of payments I transfer money to a project manager, each time a little and she pays cash on the same day that finish the job to our satisfaction, the project manager must be someone you trust with your eyes closed to transfer money directly. Beyond that I actually get from the contractor labor and construction materials The rest of the things we buy ourselves and so we have control exactly what we will buy and prices
Successfully - Payment by milestones, only after completion of the stone and execution control on your part or on behalf of your external representative. Final payment 30 day after delivery of the property.
Leave 10% -15% as a bonus.
That is, after gaps remain at the end of the negotiations, say that you are willing to pay them, but only as a bonus on quality and schedule compliance after the project is completed. - Eldad Levin A very important post, read comments
Eldad Levin A very important post, read comments
Payment of milestones, only after completion of the stone and execution control on your part or on behalf of your external representative.
Final payment 30 day after delivery of the property.
Leave 10% -15% as a bonus.
That is, after gaps remain at the end of the negotiations, say that you are willing to pay them, but only as a bonus on quality and schedule compliance after the project is completed.
You will find a project manager who will earn a percentage of the final profit and supervise the work on your behalf, or an in-house inspector to check that the work has been completed as agreed.
In terms of payments I transfer money to a project manager, each time a little and she pays cash on the same day that finish the job to our satisfaction, the project manager must be someone you trust with your eyes closed to transfer money directly. Beyond that I actually get from the contractor labor and construction materials The rest of the things we buy ourselves and so we have control exactly what we will buy and prices
Successfully
When examining the price offer, you need to verify the type of material according to the price, and you need to make sure that the contractor builds the price offer for at least Benoni goods. There are, for example, toilets from $100.00 to $400.00 for example
Many times in the general renovation of a house it is difficult to work according to percentages, there are stages where the contractor needs more money in order to progress in the work, in each case you have to check
1. That the contractor is insured and ask for his funding to issue you an insurance certificate with your name that comes directly from the insurance company
2 should make sure it has all the licenses
3.In bidding the contractor should detail how much each example example costs plumbing for the whole house. $ 2,500.00 material
At $ 3,000.00 all together $ 5,500.00 So on the start give $ 1,500.00 after initial review can give another $ 1,000.00 and so continue on all the renovation vehicles should also understand that the contractor is not need and / or fund from his pocket all the work
4. When you sign the contract, for example for a large job, you give $500.00 in order to close on a date for the start of the work and to make sure that the contractor fills out all the approvals with the municipality and only after everything is approved can you give more money according to what I wrote above, this at the end of the day is 1/3 -1/3- 1/3
The third one is given after all the final reviews and the whole work is over
5. It is of utmost importance to create trust between the contractor and the investor
Another reason to detail the exact work is in order for the customer to know that the toilet costs $ 200.00, for example, if he wants a toilet $ 250.00 the investor will pay the difference
The cslb allows the contractor to take down payment up to 10% of the sum or $ 1000 no more.
If the renovation is $ 120,000 it is allowed to take up to 1000 $ down payment, if the renovation is $ 7000 it is allowed to take up to 700 $. Then come all the stages of payments that you pay only that ends a certain renovation phase.
The cslb allows the contractor to take down payment up to 10% of the sum or $ 1000 no more.
If the renovation is $ 120,000 it is allowed to take up to 1000 $ down payment, if the renovation is $ 7000 it is allowed to take up to 700 $. Then come all the stages of payments that you pay only that ends a certain renovation phase.
We received an offer from a contractor who wants half the amount of renovations in the first stage, of course not happening for us. I wanted to know from the experience of someone who answers how many percent are given on an advance and how many steps did you have to do in renovations?
We received an offer from a contractor who wants half the amount of renovations in the first stage, of course not happening for us. I wanted to know from the experience of someone who answers how many percent are given on an advance and how many steps did you have to do in renovations?
I want to clarify a few things:
I want to clarify a few things:
If you can, just as important
Set the end of a job.
If he is late there is a fine. If there is a prior incentive. Of course, it depends on the contractor.
If you can, just as important
Set the end of a job.
If he is late there is a fine. If there is a prior incentive. Of course, it depends on the contractor.
Hey, if you ask such questions you should find a construction supervisor to accompany you.
Hey, if you ask such questions you should find a construction supervisor to accompany you.
Hi Roy,
Before starting work with the contractor you need to sign with him:
- An agreement that regulates your relationships
Scope of work content agreement
For each stage you will have to check that the work has been done in the field and its quality!
And only pay him.
Hi Roy,
Before starting work with the contractor you need to sign with him:
- An agreement that regulates your relationships
Scope of work content agreement
For each stage you will have to check that the work has been done in the field and its quality!
And only pay him.
You will find a good contractor. You will receive a scope of work that includes renovation and scheduling prices and will sign an agreement.
You will find a good contractor. You will receive a scope of work that includes renovation and scheduling prices and will sign an agreement.
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