It's always important, when taking on any home improvement project, to make sure you're aware of the entire renovation process. And that includes starting everything off right with your contract between you and your general contractor. Here are some tips on things to put in your paperwork before you sign on the dotted line:
- Make sure your remodeling contract states that the job will pass all inspections and if it does not, then the contractor will cover the expense to fix any problems.
- Be sure all the financial terms of the contract are clear and concise.
- The contract should stipulate the total price, schedule, payment dates, and if there is a cancellation penalty.
- Downpayments are usually 10% of the total project cost.
- The contract is a legally binding document that gives details of the expectations and responsibilities of both parties involved (including subcontractors.) It clarifies the goals of both homeowner and the contractor, and protects everyone's rights regarding the remodeling project.
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