When undergoing a major remodel or renovation with a professional construction company, you will likely have a written contract in place. Selecting a good, licensed contractor doesn't have to be a difficult task but there are some things on the contract that you need to be aware of and concerned about if they are not in place for your protection and theirs. A simple handshake or word-of-mouth may not be a good contract as it is not legally binding in a court of law.
Here are some points to consider when filling out and signing a contract for remodeling work.
Make sure the payment schedule is clearly laid out. Are you planning on making a one-time payment, a deposit with the final payment at the end, or multiple payments? What is it that the contractor provides an is there any recourse if the job is not completed? Make sure you understand all the facets when it comes to financing the project.
What kind of warranty is included? Ask about warranty to the work being done and discussed in detail before you sign.
The contract should include "time is of the essence" information. Ask about how long the project should take within an estimated time and what happens if it goes beyond that time. Is there a daily penalty for the contractor each day the work is not completed? What happens if certain materials have not arrived on time? Are there any incentives for the contractor to get the worked on time?
Ask about insurance. Either remodeling experts properly insured and what happens if there are injuries on the job? You may also want to check with your own insurance company to determine the limits and extent of your liability while other people are there working in your home.
Cancellation. What is the policy regarding terminating the contract? What happens if you are dissatisfied with the work? Make sure you get all of this in writing and understand ramifications.
And finally, before any final payment is made the contractor should offer a signed statement releasing all mechanical liens. This means that after everything is completed and you have paid the bill in full and the contractor has not paid the subcontractors or workers, they cannot come back to you or your property for restitution.
These are details that are important on any contract but especially during a remodeling contract, where there will be worked on in your home.If you have any other questions please don't hesitate to contact us. We want you to feel comfortable about your remodel and proud to have COOPER Design Builders provide you with expert care and customer service.