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Updated over 1 year ago on . Most recent reply

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9
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Motun Ayo
1
Votes |
9
Posts

Should I pay a Retainer Fee?

Motun Ayo
Posted

As a real estate investor newbie, I found a contractor but they are asking for $850 retainer fee and $85/Hr fee before going to evaluate a property I found. Does it makes sense to pay this fee?

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404
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Justin Hammerle
  • Realtor
  • Providence, RI
262
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404
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Justin Hammerle
  • Realtor
  • Providence, RI
Replied

@Motun Ayo - my opinion is no, depending on the size of the home a full home inspection is anywhere from $200-500 depending on size.  I'm not sure what the property eval will entail from the contractor but you could always just get one from a home inspector, pay less, and sub out the work rather than paying a retainer and an hourly fee for the same.

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