When you have completed your contractor interviews, and are ready to contract, here are some things to consider and steps to take before you sign:
1. Ask the contractor to provide you with proof of liability insurance.
2. Make sure the contract “allowances” cover the cost of the fixtures and finishes you intend to use.
3. Thoroughly read and understand the contract and project specifications (scope of work).
4. Check the contract for items that are “not included”.
5. Review the design drawings to confirm that everything is included that you discussed.
6. Insist on lien releases be provided as progress payments are made.
7. Require that the contract progress payment schedule be structured so that mile stones are reached linked to inspections where ever possible.
8. The final payment should be large enough so there is incentive for the contractor to complete the work.