Interlocking work - 50% deposit? - RedFlagDeals.com Forums

Mar 2nd, 2022 7:20 pm

#1

Bailey8 [OP]: Jr. Member; Dec 16, 2015; 111 posts; 61 upvotes; Ajax, ON

Mar 2nd, 2022 7:20 pm

Interlocking work - 50% deposit?

Good evening,
We are getting some interlocking work done on our home in Ajax. We’ve gotten quotes from a few companies for approx $35,000-$40,000. The company my husband liked the most is asking for a 50% deposit, due two weeks before the job begins. Is this normal? It’s a lot higher than we originally thought.
They are a small company, not on Google or Homestars. Found them through an FB group.

Thanks in advance!

Mar 2nd, 2022 7:34 pm

#2

drz400: Deal Addict; Sep 27, 2011; 3908 posts; 2814 upvotes; Toronto

Mar 2nd, 2022 7:34 pm

I would be very wary giving that much to a company that is not established, and essentially a Kijiji trades person. Do they have references from enough people in your area on this group?

------------------------------------

+1

Mar 2nd, 2022 7:45 pm

#3

Bailey8 [OP]: Jr. Member; Dec 16, 2015; 111 posts; 61 upvotes; Ajax, ON

Mar 2nd, 2022 7:45 pm

I am very wary as well. Totally not comfortable paying that much upfront.
No references, we just called them and they came to give us a quote. My husband liked them because they seemed very thorough and discussed several ideas we hadn’t thought of. They also provided many pics of their work. The address on their quote is also a couple minutes away from us.
I think it may be best just to move on to the next. What’s a standard deposit?

Mar 2nd, 2022 8:02 pm

#4

bostonontario: Deal Addict; Nov 26, 2008; 1071 posts; 734 upvotes; GTA

Mar 2nd, 2022 8:02 pm

After reading all the horror stories on here, I would be cautious as well.
I’d keep looking around personally.

+1

Mar 2nd, 2022 8:04 pm

#5

hierophant: Deal Fanatic; Feb 4, 2010; 6783 posts; 6427 upvotes

Mar 2nd, 2022 8:04 pm

Read some of the other posts on here that gave a hefty deposit or paid in full. My advice is don't do it unless you have a high risk tolerance and money to lose.

Mar 2nd, 2022 8:31 pm

#6

clutch31: Deal Addict; Mar 14, 2018; 1127 posts; 1122 upvotes; GTA

Mar 2nd, 2022 8:31 pm

No way I pay 50% deposit.

+1

Mar 2nd, 2022 8:38 pm

#7

JEDI Force: Deal Addict; Feb 25, 2004; 1628 posts; 1161 upvotes; Longueuil

Mar 2nd, 2022 8:38 pm

Way too risky IMO. All the risk would be on you, you got nothing to get your money back if they don't do the job.

Try not! Do or do not, there is no try...

Mar 2nd, 2022 9:02 pm

#8

kimchibowl: Sr. Member; Nov 10, 2019; 661 posts; 646 upvotes

Mar 2nd, 2022 9:02 pm

Why did your husband like this company the most? Gotta go with a reputable company for big transactions like this.

Negotiate to pay in completed portions (ex, $10k for every X amount of sq ft)? This allows you to inspect their quality of work, halt it and make them fix issues if it's ass and protects you.

+2

Mar 2nd, 2022 9:20 pm

#9

SubjectivelyObjective: Deal Addict; Jun 26, 2019; 2013 posts; 1749 upvotes; GTA

Mar 2nd, 2022 9:20 pm

So I think my first question for them is why do you need a 50% deposit?

What are you getting quoted for the work? Is it like $25/sqft of which $6/sqft is the pavers? So worse case they have to front 20-25% of the costs if they order the pavers in advance? Then they are likely going to get whatever base material the day of from a local stoneyard for $40 a ton or something.

So maybe 20-25% seems more in line with what they will potentially be out of pocket. If you pay them two weeks before, are they going to drop off the pavers in your driveway or somewhere ahead of time?

+2

Mar 2nd, 2022 9:31 pm

#10

slinger99: Sr. Member; Jan 11, 2007; 542 posts; 158 upvotes; GTA

Mar 2nd, 2022 9:31 pm

I paid approx 10% deposit to secure booking. In my case this was a few months before start date. Then another payment when the work started as the materials got delivered. Another payment when approx half done and final payment on completion.

If they are asking for 50% up front, they may have a cash flow problem.

+2

Mar 2nd, 2022 10:15 pm

#11

Toukolou: Deal Fanatic; Dec 4, 2009; 7982 posts; 3810 upvotes

Mar 2nd, 2022 10:15 pm

So...Facebook group, no other online presence, 50% deposit (~15-20k?) 2 weeks before they start...remind me what your question is again?!

"I'm a bit upset. I've been grab by the back without any alert and lubrification"
Lucky

+3

Mar 2nd, 2022 10:37 pm

#12

Bailey8 [OP]: Jr. Member; Dec 16, 2015; 111 posts; 61 upvotes; Ajax, ON

Mar 2nd, 2022 10:37 pm

Thanks everyone for your responses! I appreciate everyone’s input. We will move on to a more reputable and established company.

Mar 2nd, 2022 10:39 pm

#13

Bailey8 [OP]: Jr. Member; Dec 16, 2015; 111 posts; 61 upvotes; Ajax, ON

Mar 2nd, 2022 10:39 pm

Toukolou wrote: ↑ So...Facebook group, no other online presence, 50% deposit (~15-20k?) 2 weeks before they start...remind me what your question is again?!

Ugh yeah I should know better. Sometimes you let your guard down but I guess already knew the answer when I posted.

+2

Mar 2nd, 2022 10:55 pm

#14

rdx: Deal Fanatic; Jun 7, 2005; 9865 posts; 1244 upvotes; Toronto

Mar 2nd, 2022 10:55 pm

Interlocking stones job is a labor intensive job, the material cost is only a small portion of the total cost. They shouldn't need 50% deposit to start the job. Also, I am guessing they are probably charging you $30+ per square foot, isn't it ?

Mar 3rd, 2022 6:54 am

#15

Bailey8 [OP]: Jr. Member; Dec 16, 2015; 111 posts; 61 upvotes; Ajax, ON

Mar 3rd, 2022 6:54 am

rdx wrote: ↑ Interlocking stones job is a labor intensive job, the material cost is only a small portion of the total cost. They shouldn't need 50% deposit to start the job. Also, I am guessing they are probably charging you $30+ per square foot, isn't it ?

It’s $22 per square foot. We will be doing long walkways, garden beds, driveway widening, 40’ driveway retaining wall, 3 separate sets of steps plus 8’ concrete pad in our backyard (for our shed).

Mar 3rd, 2022 9:21 am

#16

Webhead: Deal Fanatic; Sep 7, 2004; 8203 posts; 5366 upvotes; West GTEH!

Mar 3rd, 2022 9:21 am

I do 10% deposit for any Contractor. If they don't like it, then I move on to another Contractor.

IMO, 10% is enough to lock-in the Job. It's a fair agreement between Client & Contractor.

+2

Mar 3rd, 2022 11:42 am

#17

Jerico: Deal Guru; Jan 25, 2007; 12230 posts; 7412 upvotes; Paris

Mar 3rd, 2022 11:42 am

Webhead wrote: ↑ I do 10% deposit for any Contractor. If they don't like it, then I move on to another Contractor.

IMO, 10% is enough to lock-in the Job. It's a fair agreement between Client & Contractor.

Not enough for special order goods (like windows, or kitchens) but for standard stuff like pavers or roofing its lots.

Mar 3rd, 2022 11:50 am

#18

chimaican: Deal Expert; Oct 23, 2008; 17501 posts; 15556 upvotes; GTA, ON

Mar 3rd, 2022 11:50 am

50%??? $20,000? lol. No.

If it's because he wants to pay for the materials and you really have to use this guy, then I'd suggest you go with the contractor to the yard and pay for the materials yourself, that way you know the materials are paid for under your name and will be delivered to your home, so if he skips town and doesn't want to do the job, you know you have the materials and he got nothing except his free will.

Tis banana is IRIE 😎

10% off is cold, 50% off is warm, 75% off is hot, but FREE IS RFD!

+3

Mar 3rd, 2022 12:05 pm

#19

Webhead: Deal Fanatic; Sep 7, 2004; 8203 posts; 5366 upvotes; West GTEH!

Mar 3rd, 2022 12:05 pm

Jerico wrote: ↑ Not enough for special order goods (like windows, or kitchens) but for standard stuff like pavers or roofing its lots.

Nope.
When I replaced all my House Windows I only put a 10% Deposit. And it was a $15K job.

Any Reputable Contractor/Business would accept 10% Deposit.
If not, I'd question their Business Practice.
Especially asking for a 50% Deposit. This tells me they have Money issues. As mentioned above.

Mar 3rd, 2022 1:04 pm

#20

Thackers: Jr. Member; Jul 3, 2017; 182 posts; 199 upvotes; Southern Ontario

Mar 3rd, 2022 1:04 pm

Any reputable business should have payment terms with their suppliers so that they don't have to be out cash. The deposit should reflect that. My deposit on 100k + reno was only 10k due the day they started.

+1

Interlocking work - 50% deposit?

Interlocking work - 50% deposit?

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