Contractor Payment Schedule
I was hoping to find out if it would be unreasonable to request that my last payment to a GC for work being done, come sometime after completion date.
Maybe something like 7 days after completion or maybe even longer if that is normal? I say that because of 1)that would give adequate time hopefully, to find any shady or problematic issues with the work that was done and give me time to get them corrected (also causing the GC to get in there and get them fixed if they want that last payment). Any suggestions as if it is normal, understandable, or reasonable to request GC to wait a certain period of time before receiving the last payment, and what would be a reasonable amount of time if possible?[ Edited by pghinvestor on Date 08/08/2005 ]
It is not uncommon to hold a portion back (10%) for 30 days post completion for those purposes. Additionally you could pay for a home inspection from a reputable company and that should cover most everything.
[addsig]