Is this payment schedule usual for fiberglass pool?
- Thread starter DigitallyChallenged
- Start date
Yea, that is fairly typical. It is always better for the buyer to have more money then that held to the end, and it is better for the builder to have more money up front. So there is always some tension about this kind of thing. Some places are willing to negotiate on things like this and some aren't, but there still needs to be a fair amount of money up front.
One thing I might suggest (meaning I wish I had been wise enough to do it myself), I would make the 10% plumbing and mechanical payment contingent on final approval of the city and their signoff on the building permit. Little did I know my PB never took care of that and two years later the city showed up on my doorstep and I had to deal with all the final inspections and making sure everything was up to code at that time. Just a thought, not sure if they already do that, or if it is even possible.
beaumatt said:
That's a good suggestion. We just had to have a new septic system installed and the final payment was contingent on the county inspector signing off.
Yep, my PB didn't do the final, but I scheduled it myself and passed. Fortunately in Carroll County, MD, it's easy to determine where all the inspections are (on line search). I made sure all my finals were done prior to opening the pool this year. Even if someone else applies for the permit, the homeowner can always schedule inspections.
Also, I would put as much as the final payment as possible. Mine was 4% of the total cost and things still need done. If it would have been 20%, I'm sure everything would already be done! It's very taxing.
Also, I would put as much as the final payment as possible. Mine was 4% of the total cost and things still need done. If it would have been 20%, I'm sure everything would already be done! It's very taxing.
I agree with what has been said, it is better to have a larger final payment. Mine was 5% 
and it took a call from my attorney to get the pb back after he disappeared for 2.5 mos with 95% of my money and 65% of the work finished... He did return and finished the job to my satisfaction, but it was difficult for me to be diplomatic and cordial about the whole ordeal. It was a six week build that was finished in as little as five months. 
But he did finish and do what he said he was going to do.
and it took a call from my attorney to get the pb back after he disappeared for 2.5 mos with 95% of my money and 65% of the work finished... He did return and finished the job to my satisfaction, but it was difficult for me to be diplomatic and cordial about the whole ordeal. It was a six week build that was finished in as little as five months. But he did finish and do what he said he was going to do.
- Apr 15, 2011
- 46
Yes I agree, I wish I had put more money at the end. I am 95% paid and only 75% finished. I do have a final construction end date with penalties if not finished. But it is still an uneasy feeling when there are days when they could be working, but no one shows up.
