|
HOME RENOVATION 101 ▪ Your online classroom for house remodeling tips and ideas! |
![]() |
|
Negotiating the Remodeling Contract - Part 2
▪ Emphasize how important it is that the job will be completed by a certain date. Come up with a specific, real-life reason. Use this reason over and over in your conversations. "The project MUST be finished by May 25th because my elderly parents are selling their house and are moving in with me on that day." Or... "There will be a graduation party on that day."
Contractors operate under the "Squeaky Wheel" theory. If you want to be a top priority, then you need to be a Squeaky Wheel and create a sense of urgency that your job gets maximum attention.
▪ If you are unsure about any of the provisions in the contract, consider asking for review by a real estate professional (attorney, real estate agent, accountant, architect...).
▪ The single best way to reduce a Contractor's motivation is to pay him for work that has not yet been completed. In other words, if at all possible, do not part with your money until the job has been done. If it is a big project to be completed in phases, I specify in the contract that I will be holding 10% "retainage" until the very end of the project. (For example, when the job is 50% complete, I will only have paid out 45% of the total price.)
▪ It is important to be up front with the Contractor very early on about the things that are important to you. I usually have the following conversation:
"I have been burned before by unresponsive Contractors, so I expect prompt response to my phone calls. If you can not do this, please let me know now."
|
Former builder and instructor of "Save Time and Money in Home Remodeling" cont. ed. course at Emory University | |
Copyright © 2005 Equity Atlantic, LLC
Reproduction for non-personal use is prohibited. User agrees to terms of use.
Common internet search spelling mistakes: retanage, withold, agrement