Protecting Your Interests with the Remodel Contractor
Hiring a reputable contractor and that you are comfortable working with him is one of the most important aspects of your remodel project. Following are some tips on protecting your interests with the remodel contractor.
1. Ask your friends or your local gay real estate agent to recommend some contractors that they have had a good experience with on their remodel project. Their suggestions can help steer you to some reliable remodel contractors who do quality work.
2. Obtain an estimate from each contractor. Make sure you understand what the covers and that it contains a complete listing of all of the work that you would like completed on your project.
3. Check to make sure that the contractor is licensed. State licensing laws vary, but many states offer dispute resolution services and may have state funds available to help settle disputes and compensate the homeowner. In addition, licensing is a good indication that the contractor is qualified to do the job.
4. Do not sign the estimate unless it clearly states that it does not constitute a contractual agreement to complete the work. Instead, once you have chosen a contractor, draft a contractor agreement. The contract should cover work to be completed, cost, approximate timelines to complete the job and any other aspects of the remodel that you and the contractor are agreeing to. This will help ensure that there are no misunderstandings during the course of the work.
5. Include a payment plan in the contractor agreement. For example, 10 or 15 percent to begin the project and then payments at each phase as it is completed. Be sure to inspect the work to make sure it has been completed to your satisfaction before making a payment.
6. Payments to the contractor should be made by check. This method will ensure that you have proof of payment in the event that there is a dispute.
7. After the work begins, make sure that you monitor its progress. A good way to do that is to visit the site at the end of each workday. Check to see that progress is being made and that items that have been delivered for installation are the quality of material and the color that you wanted.
8. Subcontractors and material suppliers can put a mechanics lien on your home if they are not paid. Make sure they have all been paid before you release the final payment to the contractor. You can do this by requesting proof from the contractor, or releases from the subcontractors and material suppliers. The releases should list how much is owed and contain a statement that the lien will be released once the listed amount is paid. If the amounts have not been paid once the project is complete, pay them out of the final payment and remit the remainder to the contractor.
9. Do not make a final payment to the contractor until any final inspections required by state laws or county ordinances have been completed satisfactorily.
10. Make sure that you obtain all the paperwork, including warranty cards, from the contractor for the appliances and equipment that have been installed.
Protecting your interest with the remodel contractor will help ensure that the job goes according to plan and that it is completed in a timely manner. It will also make the remodel process less stressful so that you can enjoy watching your project come together.