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Question DetailsAsked on 9/15/2013

Is it common to have to pay 50% deposit for painting, even if the start date is 4 weeks away?

I have a painting bid for the whole interior of a vacant house.

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2 Answers

0
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That seems like way to high a deposit for something like painting which is more of a labor intensive job. The materials required are not that much money compared to what an addition, kitchen or bath remodel would be. Unless you live out of state and he is nervous about payment I would say a deposit of about 10% to 20% would be in order. I have stated on many answers I have given here that I take as small a deposit as I can often $100 or less unless I have nonreturnable materials I have to buy and then break it down into progress payments at certain stages of the job.

Don

Answered 6 years ago by ContractorDon

0
Votes

Assuming he inspected the job, he probably saw the empty house and did not want to get burned - a lot of painters and carpeters, in particular, have been burned by people fixing a house up hoping for a quick sale, then not paying the contractors untill after closing or not at all if they don't get a sale.

Perhaps you could work out a deal for a small depsoit (10-15%) with the rest of the painting job money to be put in escrow with an escrow company up front, to be paid upon completion and acceptance of the job.

Another alternative, since this is a short job - is authorize (in writing) credit card payment of a specified advance now, then the remainder upon completion of the job. That way he can get an authorization hold on the funds from the cc company, but if he fails to come through you have the 60 day period to cancel the charge due to fraud. Because of the 60 day rule, I would try to make the deposit date more like 2 weeks before the job starts, so it does not run out before he finishes if there is a holdup.

Answered 6 years ago by LCD




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