Now is a great time for home improvement. Instead of selling a home, many are modernizing their existing interiors with dream kitchens and bathrooms. The goal should be to protect and improve your investment. Be carful! If you don't protect yourself financially you can be paying in more ways than initially anticipated, and the process can turn into a nightmare.
Here are some things to consider when you get work done at your home or business:
Price shouldn't be the main concern, because too often you get what you pay for and maybe even less. Always get references. Most good contractors won't request payment in full prior to completing the job. An experienced contractor knows that if he delivers what is expected he will be paid; and if the property owner does not pay, the contractor can lien the property and collect.
A property owner should get Lien Waivers signed when making payments to contractors. A lien waiver is a "receipt" for payment. By having a signed lien waiver, a property owner precludes the contractor and his subcontractors from being able to lien the property. Unfortunately, there are "contractors" that will require money up front, not complete the job, and not pay his subs. This is a very small number, however, in the worst situations, if the owner does not have a signed lien waiver, the result is that the owner paid the contractor, the work did not get completed, and the owner is required to pay additional money to the subs and suppliers for unfinished work, thereby paying twice for a job that was not completed.
Make sure you deal with reputable contractors. Contractors who are honest and good at what they do expect to sign lien waivers. if you need lien waiver forms for your next project or further information, I am happy to assist. Home renovation is a more pleasant experience for all involved if these matters are dealt with up front rather than through litigation.