Paying a contractor - Indianapolis

[Sonya Hansell]

Hey BP Friends

I am doing my first (minor) rehab work - using a contractor.  He has given me the quote and ready to start the work.

What is the protocol for paying a contractor?  I know that I should not pay for the entire job before he even starts the work.  But what should I pay?  How do I handle this as a property owner?  Do I need to check his insurance/bond etc?  And if so, how do I do this?  He was referred by another investor here on BP.  This is an $1800. job, so it is minor.

Thanks.

[Matthew Paul]

A contractor typicaly recieves 1/3 down at the time you sign the contract , one third when the job starts , and the final third upon completion . The terms will be spelled out in the contract that the contractor has you sign