Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago, 05/02/2019

User Stats

17
Posts
19
Votes
Chelsea Mastin
  • Denver, CO
19
Votes |
17
Posts

How Would you Describe "Finishing Stage" of construction

Chelsea Mastin
  • Denver, CO
Posted

Hi everyone!

I am under contract for the construction of a property. We agreed upon 4 payments. The first to be made to initiate construction, the last when construction is finished and 2 additional payments in-between. The 3rd payment is to be made at "finishing stage."

Made a mistake on contract of not listing out the specifically what "finishing stage" is for the 3rd payment. Live and learn. My contractor is trying to collect and we are arguing.

Was hoping a contractor or investor with construction experience could offer some insight on when they would feel comfortable with a the 3rd payment exchange?

When I inspected last week they had completed framing, plumbing and we're starting HVAC. I will inspect property tomorrow and see where they are, but wanted to as for insight to avoid any unnecessary arguments tomorrow if I am I The wrong.

Thanks in advance,

Chelsea

Loading replies...