Contractor Deposit.

[feek76]

As a contractor, depending on the scope and size of job the deposit amount can vary. Usually 20% is the norm. However if there are specialty materials that need to be ordered it is not uncommon for us to ask for 50% or at least the cost of the materials.

For a 3K job, you don't need all that paperwork to be provided. Your just going to get a disgruntled contractor.

 

[scdave2003]

I replaced my counter top with granite, 75% deposit even before they cut stone, they did come from Guelph to other side of London to measure first for free. Finally price came to more than the remaining 25% but we had added a couple extras, edge, sink. Wouldn't go this route with anyone but a reputable company.

 

[dj1470]

Most honest contractors will offer you the 334 or 33/33/34 option.
33% deposit, 33% halfway, 34% completion.

 

[jazzpig]

I replaced my counter top with granite, 75% deposit even before they cut stone, they did come from Guelph to other side of London to measure first for free. Finally price came to more than the remaining 25% but we had added a couple extras, edge, sink. Wouldn't go this route with anyone but a reputable company.

You wouldn't have much of a choice.
Do you think any marble company would cut, trim, assemble, polish, a custom counter top without a substantial down payment? Good luck!
Show me a company who does and I'll show you a company who won't be in business very long.
I'll bet they wanted the cheque for the balance on delivery before they insalled it too.

 

[oldjones]

Get a sense of how much his materials will be by pricing them at Home Depot or something and offer to pay that for a downpayment.

Getting materials paid for up front can makes sense for the small-timer. It can be a serious amount of cash outlay, and difficult to recover if it turns out your client's real address is Hell. It's one thing to realize you worked a week for free, quite another to have made a gift of the drywall and lumber. You can pay for the materials on delivery, or when they're ordered—I wouldn't want to pay for materials not at my site—if you don't want to hand over an advance. If you're leery of the guy, you likely shouldn't be dealing with him.

 

[homerjsimpson]

I'm getting some work done at my home that's going to cost 3K. A contractor that gave me the estimate took me around to many other homes in my area he did and his work looks good. His price was in line with other quotes. Anyway I called him back to move forward and hire him to do the work. He wants half up front so $1500. That seems steep to me doesn't it? Whats the industry standard for residential contract work deposits? I was thinking more like 25% up front.

Thanks guys.

You did the single most important thing (other than getting multiple quotes), you went to other homes, saw his work and talked to other home owners. In your neighbourhood! I would have paid the 50% without batting an eyelash.