GC Deposit and draw schedules

1 Reply

What is a typical deposit and draw schedule look like for a rehab?

My GC just sent me a bid and has the following...

$7,500 deposit

Draw 2 upon completion of Demolition - $7,500

Draw 3 once tile work begins - $6,500

Draw 4 - upon completion $3,500

What has me baffled is that they want me to pay $15k before the actual rehab begins!

What is typical?

hello Joseph, I am looking forward to seeing post replies on your question. Looking for same info.

PS. Are you attending the NTAREI meeting Thursday evening? I hope to make it with my Son and wife.