A lot of times people ask me when I come out and see them to talk about their kitchen or bath remodeling projects, how the money’s going to be disbursed.
Well, first of all, at Richard Louis Construction here in Orange County we have that detailed in the contract very specifically.
The money’s going to be disbursed as the job progresses. It’s not going to be disbursed before. There are certain amounts of money that you will give the contractor at the beginning as a deposit.
Once you sign the contract a contractor cannot collect more than a thousand dollars or ten percent of the project. Whichever one is less is the maximum deposit that a contract can collect.
Then once you have the contract in hand, you will agree to the payment schedule the way the contractor spells it out. So, if you don’t like the way it’s being disbursed you can sure your opinion and maybe the contractor can change it for you. I know I would. And we can work in that direction. I don’t like collecting any money way ahead of time. It’s disbursed throughout the project. Thank you very much.
