Quote:
Originally Posted by silverbmwz3
How realistic is no deposit?
I think he said 10/20%, maybe 25%. Doesn't seem unreasonable as they have to instruct architects/planners/designers whatever and order products. Not many SMEs would go ahead on a 20k construction project without a deposit? Or they'd get people window shopping/kicking tyres and then not payign up ?
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You are asking the right questions:
1. What if he goes bust and you lose your deposit?
2. What if he takes your money then doesn't start for 12 months?
The planning / design costs won't be that great (maybe £1K?). It would be reasonable to pay that sort of money upfront.
He will pay for materials on delivery, or on a monthly invoice basis. Builders will fight for cash flow because they operate on very low margins (profit is maybe 8% of turnover), but you should really try to avoid paying for work that hasn't been done ... in case it's never done.
'Of a high quality' doesn't mean anything at all unfortunately. You need to describe quality in more exact terms.
Typical statements from specifications could include the following:
"The works shall be designed and constructed in accordance with all relevant legislation, British Standards and Codes of Practice."
Beyond that it's about specifics. Floor finishes, skirtings, walls, ceilings, windows, cills, doors, ironmongery, lighting points and small power should all described.
BTW - I am a 'client side' project manager. Effectively I am a professional client and my job is to procure construction work for a property developer.