Electrician wants 50% CASH deposit prior to start

[Tom Shi]

I am in Oregon and looking for a electrician to replace an old electric panel.  Most electrician in town are very busy and scheduling estimates 2-3 weeks out.  So I had someone based further away to come and give estimate.  Estimate is about $2100, which seems slightly cheaper than the going rate.  I was ready to hire this person when he asked for a 50% cash deposit."Nothing personal," he said, they have been scammed by bounced checks too many times.  I can't feel a bit insulted as I never had to pay CASH for contractor deposit before.  I looked up this guy's license number and it seems clean.  The materials he listed as needed on the estimate (some breakers and a new electric panel) should cost a few hundred dollars, not over a thousand.  I am conflicted, as I like to get this job done soon as I want to sell the house this summer, but there is yellow alert going off in my mind about the situation.  I don't have much experience with hiring electricians and so wanted to see what people here thinks of this situation.  THanks