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The exact deposit amount contractors ask for upfront varies and is especially dependent on the size of the project. For relatively small jobs, like a $16,000 bathroom remodel, contractors may ask for a 50% deposit. For large jobs, like a $100,000 full-home renovation, a 10%?20% deposit is more typical.
By law, the contractor cannot collect more than 1/3 of the cost of the contract in advance, unless special order materials are needed. Homeowner's guide to hiring a home improvement contractor - Mass.gov mass.gov ? info-details ? homeowners-guide... mass.gov ? info-details ? homeowners-guide...
To cancel the contract, you must notify the seller in writing no later than midnight of the third business day after you signed the contract. The seller must return your payment within ten business days after receipt of your cancellation notice. Don't get heated over cooling-off periods - Mass.gov mass.gov ? news ? dont-get-heated-over-co... mass.gov ? news ? dont-get-heated-over-co...
REMEMBER The down payment cannot be more than $1,000 or 10 percent of the contract price, whichever is less, for a home improvement job or swimming pool, excluding finance charges. There are no exceptions for special-order materials. Learn About Home Improvement Contracts - CSLB - CA.gov ca.gov ? What_Is_A_Contract ca.gov ? What_Is_A_Contract
On private projects, Massachusetts Prompt Pay law requires property owners to make progress payments to Prime Contractors within 45 days after approval of invoice. The invoice must be approved or denied within 15 days.
Net 10, Net 30, or Net 60 (found on the invoice) simply indicates that the contractor's payment is due 10, 30, or 60 days from the date of the invoice, respectively. Risks: This is the most common payment term for independent contractors, and there are few risks associated with it.
On private projects, Massachusetts Prompt Pay law requires property owners to make progress payments to Prime Contractors within 45 days after approval of invoice. The invoice must be approved or denied within 15 days. Massachusetts Prompt Payment Rules & Requirements for Construction levelset.com ? prompt-payment ? massachus... levelset.com ? prompt-payment ? massachus...
It is illegal and unethical to try to add charges after the fact, even if they are legitimate charges. From a professional standpoint, it also makes you look bad at the end of a project. You may have a different way of collecting those additional charges, but there are a few things to consider before you act.