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Question DetailsAsked on 8/1/2014

What is the standard deposit for a roofing job?

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3 Answers

1
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Most of our roof jobs where customers are paying in cash or by check, we ask for 20% as a deposit. But, for many of our customers we act as an agent for a lender and acquire financing for the customer. If we are providing the financing, we don't ask for a deposit. The funding is secured and is available at the end of the job from the lender. The arrangement is wonderful for everyone involved. Because we as a company, cannot get paid unless the customer signs a completion certificate for the bank, which says they are happy with the work and it is completed, so they are protected. We as a company are also protected because we know that the funding is in place and that it will be there when we finish.

It truly is a great system which is available for most reputable company's. If the company cannot get a lender to sponsor them in a program like this. You might want to look for a new roofer.

Answered 5 years ago by ExteriorUpgrader

0
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Note that the comment from Guest 9004190 assumes you are financing the roof through their lender - if not using a home improvement loan, then most roofers I have run into want about 10-20% down payment when you reserve the work slot (assuming in busy season os work date may be weeks or months away), and another 25-50% before they buy the materials, which would generally mean a week or so before the job is actually done, then the rest upon completion. Bear in mind the materials are 1/3 to 1/2 the total job cost on a reroof, so they want to be covered at least for the materials cost in case they get the materials then you back out or fail to make final payment.


Here is a link to another set of answers to that question, and there are more in the Home > Roofing link below your question.

Answered 5 years ago by LCD

1
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We try to keep our costs at a minimum and pass the savings along to our customers. We do not buy material on credit of any sort. When the material hits the jobsite, it is paid for in full. This eliminates any chance of something happening and the supplier not getting paid, thus resulting in a lien being placed on the customers home. Again, as LCD stated, this wouldn't pertain to any financing situation, which I try to discourage people from doing regardless. We get 40%-50% of the contracted amount when the contract is signed, or the day we do the job. The balance is due upon completion of the work, and as in most cases it's an insurance claim and we gladly wait for the customer to receive their 2nd check (recoverable depreciation) from their insurance company to pay the remaining balance due. By us not having to overhead any part of the work for a given period of time, we pass that savings along to our customers.

Source: 30 + years as a roofing contractor

Answered 5 years ago by Roofman1




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