How much retention should I agree on with my builder, and how long for?
house extension.
Answers:
Retention is typically 10% in the building industry. This would be held from each progress payment and payable upon completion of your Punch List at the end of the project.
15% FOR 6 MONTHS
The retention on monies owed a home builder also deserves a good plan that would benifet both of you.
I would suggest a 10% retention payable upon final completion of the punch list and an inspection by a qualified inspector. Included in the deal would be a HOW plan and a full warranty, both for a minimum of 1 year and both by the builder.
Accepted amount is usually 10% for six months.
20%
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Motgage survey and new house.?
Answers:
Retention is typically 10% in the building industry. This would be held from each progress payment and payable upon completion of your Punch List at the end of the project.
15% FOR 6 MONTHS
The retention on monies owed a home builder also deserves a good plan that would benifet both of you.
I would suggest a 10% retention payable upon final completion of the punch list and an inspection by a qualified inspector. Included in the deal would be a HOW plan and a full warranty, both for a minimum of 1 year and both by the builder.
Accepted amount is usually 10% for six months.
20%
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