need advice on how to protect against GC cash issues
Hi wise home builders, this is the first time i am tackling building an entire house (I previously did a major remodel), and am learning so much from everybody. I was wondering if you could offer me some tips on what to do about our contractor and how we can protect ourselves.
The situation is that we signed a contract with a payment schedule based on milestones for completion, mostly based on passing inspections. However, the past three times, our contractor has ask for payments in advance or tried to switch payments (like if we owe 5% at one stage and 10% at the next, he would try to see if we could pay him the 10% first). We have not agreed to any of his requests, but his constant asking is making us worried that he might be having some cash issues. So far, everything has been on schedule. But just as prevention, is there anything we can do to make sure we are not left with a bunch of liens from his subs and suppliers should something bad happen?
thank you very much for any advice!!