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Updated over 9 years ago,

User Stats

624
Posts
274
Votes
Ruth Bayang
  • Investor
  • Kent, WA
274
Votes |
624
Posts

Contractor deposit ??

Ruth Bayang
  • Investor
  • Kent, WA
Posted

How much of a deposit/percentage is "customary" to give a contractor to rehab a house?

Or do you not give deposits at all? I have a Scope of Work, a Contractor Agreement with spelled out draws and project end date with per diem penalties.. just not sure if a deposit if necessary??

I know states like California have a law that it's $1000 or 10% whichever is less.

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