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Hiring A Contractor - 10 Mistakes To Avoid
A very smart attorney I know paid $7,000 for a roof repair, only to have the roof leak the next time it rained. The contractor stalled, made excuses, but never did a thing about it. Anyone can have these kinds of problems when having repairs or improvements done, but to make it less likely, avoid the folowing mistakes when hiring a contractor. 1. Not knowing what you want. If you don't know what you want, you might not like what you get. Also, if you change your mind and change the job halfway through, the contract - and price - have changed (Hint: it won't get cheaper). Know clearly what you want done. 2. Not getting everything in writing. You don't want to hear, "I didn't say I was going to include the gutters." 3. Not having dates in the contract. Did you want it finished this year? You better have it in the contract. 4. Paying too much up front. A deposit may be a reasonable request when the contract is signed, and money for materials prior to the start date. Never pay in full before the job is finished. 5. Hiring unlicensed contractors. Actually, this can be okay, if you know what you are doing (and he does). The license doesn't mean you get expertise, but it does mean you get leverage. A contractor will right his wrongs to avoid losing that license. 6. Hiring the first one in the phone book. Ask friends who had work done, or the owner of a hardware store. Find a recommendation based on a similar job to yours. 7. Thinking there will be no problems. Weather delays, employees quitting, and more will happen. Having problems is okay, but it's not okay if the contractor can't work out the issues to your satisfaction. 8. Expecting neatness. Believe it or not, it is sometimes efficient to leave things laying where they'll next be used. There will be messes, so prepare accordingly. Cover things if it will be a dusty job, for example. Also be clear in the contract that the jobsite will be cleaned up at the end of the job. 9. Not having penalties in the contract. This is important on large jobs. It's one thing to say "Work to be completed by May 2nd," but better to add, "$100 per day to be deducted from the contract price for each day the job is unfinished beyond May 2nd." That's what I call a motivational clause. 10. Thinking contracts will prevent problems. They help, but unreasonable people on either side of a contract can ignore them, or use "literal readings" to make things even worse. Find someone you can work with, and keep your eyes open. Steve Gillman has invested in real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business Former S.F. 'start-up village' sells for huge discount San Francisco Chronicle Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal Industrial property company warns of a slowing real estate market Greater Baton Rouge Business Report 2 real estate firms join forces for medical office building acquisitions Becker's ASC Review Homes and land for sale Decker Real Estate Tillamook Headlight-Herald Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal Arizona Coyotes owner cares more about real estate than hockey The Arizona Republic People and Property: Real Estate and Construction News From Around NH New Hampshire Business Review Experienced Acquisitions Expert Justin Maturo Joins Mesirow Institutional Real Estate Direct Investments PR Newswire Real Estate Fresh Finds: April 17 PoPville VR Home Tours: The Future of Real Estate Showings hackernoon.com How Will Real Estate Commission Ruling Impact Bay-Region Homebuyers? Chesapeake Bay Magazine Real Estate Sales Down, Price per Foot Up, in March Brownwood News New York community-scale developer Ninedot secures US$13 million real estate financing Energy-Storage.news LICP's 19th Annual Real Estate Breakfast explores urban transformation in Long Island City Queens Post Flagship Communities Real Estate Investment Trust Announces Largest Acquisition in the REIT's History GlobeNewswire Consumer warning: real estate fraud schemes target Dominicans Brooklyn Daily Eagle Friedman Real Estate closes sale of 12952-square-foot industrial property in Madison Heights – REJournals REjournals.com Real estate, finance jobs are driving Tampa Bay's economy, report shows - Tampa Bay Business Journal The Business Journals SVN | J. Beard Real Estate Announces The Addition of Marshall Davidson As Chief Investment Officer Woodlands Online Leading Conference Organizer IMN Launches AI in Real Estate Conference on June 11 in New York City Yahoo Finance The Top Luxury Real Estate Leaders In Las Vegas Vegas | Modern Luxury On Real Estate: New York needs housing mandates to solve housing crisis Crain's New York Business Tilman Fertitta buys two prime Uptown-River Oaks sites Houston Chronicle Parkside Uptown — Bank of America’s future Dallas home — finds $290 million The Dallas Morning News A new real estate trend? Shopping malls converted into residential units in South Florida NBC 6 South Florida High Mortgage Rates Impact New Construction: Builders Pull Back Norada Real Estate Investments California Housing Market Slows Down but Home Prices Soar Norada Real Estate Investments Top residential real estate sales for April 1-5 in Longboat, Lido, St. Armands, Bird Key Your Observer Local real estate agents discuss how lawsuit may impact the market Daniel Island News Flat For Flip (FFF) Intends to Expand European Real Estate Market to Asian Buyers through NFTs GlobeNewswire Regional Banks Face Challenges from Commercial Real Estate Market Value the Markets The Top Luxury Real Estate Leaders In Philadelphia Philadelphia Style | Modern Luxury Ex-HGTV star and Los Gatos house flipper Charles 'Todd' Hill sentenced in real estate fraud case KGO-TV REAL ESTATE | Eaton's Pizza remodel underway at new location on Hwy 33 in West Bend, WI washingtoncountyinsider.com Fertitta buys properties near Post Oak Hotel, River Oaks District - Houston Business Journal The Business Journals Mortgage Rates Soar to Highest Level Since November Norada Real Estate Investments H-E-B buys land in Celina The Dallas Morning News |
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