All Forum Posts by: Wendy S.

@Bruce Woodruff. Thank you.

Good day, I hope this is posted in the right forum and I can really get some positive and perhaps local feedback.

So company says I need an architect to do the drawing and submit to county to raise a portion of the roof by 2 block height. They have an architect they use but I have to pay for architect upfront along with county fees. We negotiated and I paid 50% deposit along with county fees.

Now they want me to pay balance, upon which architect will submit to county for approval. So I ask what if the county says no, need further modification. They say the architect will address this.

Am I being unreasonable to ask for the drawing to be submitted first, then final payment upon approval from the county?

@Bruce Woodruff. I paid for the materials gave $5,000 down and will now pay upon the completion of other milestones.

Simple, pick up the phone and call your Lender and ask if there is any Lender credit that he/she can offer you. All the best.

@Terrell Garren wow. I only found one that was willing and started the job without requesting a dime but he had too many ongoing projects, not a big enough crew, didn't communicate well in that he would turn up late but just in the nick of time and it was frustrating for me, but no payment issue, so we parted amicably.

All the others request deposit. Even had 1 company ask for deposit then daily pay. I said no.

Actually, what I've found here is the ones that do good work, don't request payment upfront are trying to juggle multiple projects and because they are not paid upfront, it's hard to argue they need to complete timely.

@Alex L. Thanks Alex.

I guess I can't see why $5,000 deposit isn't sufficient and I make another payment at the end of the week when some work was actually done. But $8,000 to $18,000 deposit any work is done is a hard pill to swallow. Even if you had regular guys as employee on the site you should still be able to make payroll.

For eg. the $,8000 is on a whole house paint, remove bathroom cabinets and upgrade, shower walls, and flooring.

So, while I get the need to have the money on hand before, the workmen aren't being paid before they work so why ask so much.

Like I said, maybe I am just venting.

Good day, I know this topic has been discussed numerous times so I may be venting or just tired that contractors believe they should get significant deposits on labor.

For projects under $50,000, with the owner paying for the materials sourced by the contractor, how much is a reasonable deposit on labor for the job to get started?

Contractors have more leverage as they can put a lien against your property for valid work done. So it's a no brainer for the owner to pay them.

What do owners have? The potential of a pyrrhic victory?

Looking at a job for $28,000.

Contractor wants $8,000 deposit for labor.

Another for $38,000 labor only

Labor request deposit $15,000???

@Christin Nguyen

First, congrats on getting under contract with your first property.

Your realtor while new, should try to negotiate as best as possible for you. With that said, instead of trying to type what she is to ask the seller's agent, ask her to simply have a conversation with the agent first to see if her client would be amiable to granting that buydown percentage that you need. Then have her formally make the request.

If you're still within your DD period, as others have suggested, if your agent feels strongly that the property will appraise, then have her go on on the sales price and request the buydown amount on the back end. This way you have a win-win for all parties.

You could also see if the Lender has any Lender credits they could offer. Are there any courses that you could complete that could offer you any kind of credits as well.

Forgo asking for help due to repairs if you already said you would not be asking for any. Besides, I'm pretty sure the buydown rate will be more beneficial to you.

You've got this. Happy closing.

@Adah N.

I'm in Conyers.

@Jane Kim

Another thing could be to do an energy audit. How good is the insulation, windows and doors. You could check if the house is losing heat via these areas.

It seems you also occupy the home so it might be fairly easy to assess electricity/heating in the general areas.

For example, I had an older tenant that would constantly open the kitchen window while cooking and the central heat was on. Had another that liked to open his window to let fresh air in his room (he was a smoker). Some people take excessively long hot showers, leave all the lights on, TV etc.

You might want to call a 'house meeting', get everyone on board to manage expectations then document after the meeting with addendum to your lease for increased utilities beyond an agreed wattage use.

Finally, see if there is a fixed payment plan offered by your provider or reduced rate for a agreed term or switch providers.

I once had a bill for over $550, I asked for consideration, turns out there was a one-time allotment. I paid almost half the bill, the company paid the rest and then I went on budget billing at $125 monthly.

Goodluck