The 10 Most Important Rules of Choosing and Dealing With a
Contractor
Building your dream home can quickly turn into a nightmare of
unmet schedules, cost over runs, shabby workmanship and endless
arguments.
I have been originating and closing construction loans for a
good number of years now and I have experienced clients dumping
contractors and even contractors dumping clients. By that time
in most cases the job is running behind schedule and over
budget. Choosing a new contractor at this stage is difficult and
further delays are inevitable.
Spending a little more time and paying a little more attention
to the process of choosing your contractor can avoid all this.
In most cases the writing is on the wall from the very first
day, but wishful thinking gets in the way of logic, which leads
to disaster down the road.
A good number of articles have been written on the subject, and
you should try reading at least one or two well before making
your choice of a contractor.
This article is based on my experience and personal
observations. You may whish to write the main points down and
add others that I have not covered and indeed add to the list
from your own experience of dealing with people. This way you
will internalize the subject and become a naturally better judge
of those you do business with.
During the processing of your construction loan, some
information is collected from the contractor but that should not
stop you from your due diligence. Here is a list of items to
check and to look out for:
1- If your state requires a state license, ask for the number.
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