Reply to How much money can a Maryland contractor require as a deposit? 5k on a 12k contract????

Forum Index » Home Improvement, Design, and Decorating

Reply to "How much money can a Maryland contractor require as a deposit? 5k on a 12k contract????"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I am getting bids on rewiring our entire home. One bid came in at about 12k (which seems steep, right???) and that vendor wants a 5k deposit on a 12k contract. Is that legal? I'm on hold with the Maryland DLLR to see what they say but does anyone have experience with this?

I am from California where contractors can only charge a maximum of $1500 or 10% of the contract, whichever is more, as a start of work deposit. This is to protect the homeowners obviously from someone just cashing the deposit check but not ever showing up.[/quote]

$12K to rewire an entire home, as long as you don't live in a one level shoe box, isn't that high. A new panel box alone can cost $1000. Then all the time to snake wires through walls. It's a time consuming process.

There is so much construction in the are that good electricians can go make good money on large scale commercial projects, working on military bases, etc. Remember you're also paying them for their time to go get the permit, which is time they aren't in your house wiring it.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics