Quote:
Originally Posted by salferg
Anyone know what percentages a contractor generally requires for the draw schedule?
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Having completed a very large and expensive addition to our home the draw schedule we used with Excel Construction (which did a very good job) was no money down until all footings were poured & exterior walls up (30%), then 40% once sheetrock/electrical installed, 20% when the A/C was installed. We held out 10% until all finished work was completed and we did a walk thru to our satisfaction. EXCEL Construction is a very good company owned by good honest folks.
MV