When you have completed your contractor interviews, and are ready to contract, here are some things to consider and steps to take before you sign:
- Ask the contractor to provide you with proof of liability insurance.
- Make sure the contract “allowances” cover the cost of the fixtures and finishes you intend to use.
- Thoroughly read and understand the contract and project specifications (scope of work).
- Check the contract for items that are “not included”.
- Review the design drawings to confirm that everything is included that you discussed.
- Insist on lien releases be provided as progress payments are made.
- Require that the contract progress payment schedule be structured so that mile stones are reached linked to inspections where ever possible.
- The final payment should be large enough so there is incentive for the contractor to complete the work.
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