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Updated almost 11 years ago,
GC Deposit and draw schedules
What is a typical deposit and draw schedule look like for a rehab?
My GC just sent me a bid and has the following...
$7,500 deposit
Draw 2 upon completion of Demolition - $7,500
Draw 3 once tile work begins - $6,500
Draw 4 - upon completion $3,500
What has me baffled is that they want me to pay $15k before the actual rehab begins!
What is typical?