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PB Draw

Posted by cabogirl (My Page) on
Fri, Nov 11, 11 at 12:41

I know there are a lot of threads out there but I don't seem to be searching right to get them so can I just throw out what the PB has in his contract.'

SCHEDULE OF PROGRESS PAYMENTS
DEPOSIT
ENGINEERING & PERMITS
COMPLETION OF EXCAVATION
COMPLETION OF STEEL
COMPLETION OF PLUMBING
DAY OF GUNITE
START OF MASONRY
COMPLETION OF MASONRY AND TILE
POOL EQUIPMENT
MISC
DAY OF DIMOND BRITE
TOTAL

Do you need the $ amounts of each draw - the way he has it - the pool is paid in full when they do the diamond brite which no way am i going for it.

Could somebody give me the industry standard maybe in percentages for draws.

We're getting it pretty much narrowed down and I can't believe we may actually be building a pool....woohoo


Follow-Up Postings:

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RE: PB Draw

I don't have a clue what the industry standard is, but I can tell you the payment schedule for our pool build.

10% - day contract signed
25% - day of dig
30% - day of gunite
25% - day deck is poured
10% - when pool is up & running and final inspection passed

Good luck on your build! They just finished blowing the gunite for ours. Very exciting!


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RE: PB Draw

Some states have the draw regulated. Others do not. Those that do not, it is up to the PB and customer to negotiate. Holding a higher percentage at the end helps the customer keep the attention level high.

If I was a customer, I would try to negotiate:

5% at contract refundable if for cause)
20% after steel, plumbing, and equipment is set up. Add in any extra dig time for rock and dry well if needed.
20% after gunite and electrical
35% after decking and plaster
20% after cleanup, final grading, and orientation

The builder will hem and haw with 20% at the end but it sure keeps the PB focused.

Scott


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RE: PB Draw

cabogirl,
For any construction project it's a good idea to pay on a percentage of completion.

As a retired PB I never collected money until the gunite was complete...55%
A second payment after the deck...35% plus accumulated extras.
Finally, the last 10% after the punch list is complete.

There may be variations, but don't let the PB get the project frontloaded. Scott's list is a little back loaded at 20% retention. Pick a quality PB and not just the low price.


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RE: PB Draw

Being something of a consumer advocate, would you expect any less from me golfgeek?

Most jobs for me, $500 and up, usually require a 50% deposit on the job, before taxes. Pool refurbs, i.e. plaster, coping, etc... are in 3rds because to the project's stages. Being a service guy vs a PB makes a difference.

Scott


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RE: PB Draw

Thanks so much for the responses. It at least gives me somewhere to start. I keep telling the 3 PB's we're talking to that I have been coming to this forum for years for information from customers and builders. I was a bit surprised by the one PB when he thought we would have everything paid by gunite.

Two PB's have built pools for people on this forum and the 3rd was another recommendation. 2 bids are close and the other is about $30,000 more. He just keeps saying he builds better quality pools than anybody. I guess we'll know when we actually go see his/their pools. Right now we seem to be narrowing it down by who we feel the most comfortable with.

Janine


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RE: PB Draw

poolguynj,

California has become very strict with contractors regarding draws. When I first entered the business, about 40 years ago, it was common in the industry to collect 25% at excavation, 25% at steel, and 45% at gunite. Didn't leave much for the customer to leverage and a lot of PB's spent the cash and left customer's pools unfinished.

PB's now have to carry larger bonds and use percentage of completion methods for draws. There is a happy medium somewhere.

Unfortunately, there are a few pool buyers out there who have no intention of making the last payment. Picking customers can be as difficult as picking PB's!


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