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Deposit and payments for loft conversion
borax
Posts: 5 Forumite
We have a quote for a loft conversion which we are happy with however the company (Attic Life) want
10% upfront as a deposit
40% at the end of the first day
40% when structural work is completed
10% retention to the end.
I can live with the 10% since they will incur costs drawing up plans.
They seem to be a reputable company and have been around for a while ~10 years.
But 50% payment before they have done anything and 90% before doing anything beyond the structural work seems more than would be needed for them to cover costs.
What is a reasonable payment plan?
10% upfront as a deposit
40% at the end of the first day
40% when structural work is completed
10% retention to the end.
I can live with the 10% since they will incur costs drawing up plans.
They seem to be a reputable company and have been around for a while ~10 years.
But 50% payment before they have done anything and 90% before doing anything beyond the structural work seems more than would be needed for them to cover costs.
What is a reasonable payment plan?
0
Comments
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Let me find my agreement and I'll let you know how it differs. The firm doing mine are the best around so I have no issue with their structure.0
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Found. It is
10% balance of deposit
20% OM receipt of plans
30% on delivery of materials
35% on completion of structure
5% on final completion0 -
In comparison extremely similar0
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