Normal payment schedule for new pool

17 years ago

I am seeking quotes from various pool builders right now, and am curious what others see as the normal payment schedule for the work. One pool builder is asking for a $2k deposit upon signing the contract, 25% at excavation, 20% when they lay the steel rebar, 50% when they shoot the shotcrete and the final 5% when they plaster. Does this seem reasonable?

I'm looking to insure that I can make the FINAL payment when ALL of the work is completed. Otherwise I lose the upper hand of insuring they complete the work. Is plastering really the last step? I'd prefer to be handing them the last payment the day they show me how to maintain my finished pool.

Any thoughts?

Featured Answer

golfgeek

17 years ago

tim pool newbie,
Your contract is front loaded too much. Your payments should match the percent of contruction performed.
Example.... excavation, steel, and gunite represent about 55-60% of the total project....you should be paying about 60% at this time. Completion of deck with equipment in place represents about 90% of the total project. That leaves you 10% to hold until the plaster and start-up are completed.
Payment schedules, as a percent of completion, are regulated in states such as California. Deposits and front loaded contracts allow the PB to work with your money....maybe they don't have any.
I get my first 55% payment when I complete gunite, 30% after deck and 15% at start-up.
Your PB wants 95% plus $2K and hasn't done tile, deck, plaster, start-up, and maybe hasn't purchased any equipment. Again, this is heavily front loaded. Good luck.

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Comments (13)

travis_turner
17 years ago
I've received bids from numerous builders, and I've never been asked to make the last payment prior to completion of the pool. FYI. Good luck.
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renovxpt
17 years ago
The big national companies like to get your money in advance because they know from experience that you'll probably get really ticked off.
just-a-pb
17 years ago
In AZ the Regestrar of contractors made the payment schedule.
$1,000 down
30% at excavation
30% at shotcrete
30% at decking
Final prior to interior finish application.
mneel
17 years ago
My PB set it up in 6 payments: 10% down, 30% morning of excavation, 30% concrete shell installed, 15% pool interior installed, 15% WHEN THEY SHOWED ME HOW TO OPERATE IT. Hope this helps. Fairly large PB company.
huskyridor
17 years ago
NEVER pay 95 percent at gunite. It's way to much risk for the buyer.

This is the national norm;
30% at excavation
30% at shotcrete
30% at decking
Final at application of interior finish application.

See ya,
Kelly
Niki Friedman
17 years ago
Our payment schedule is as follows:
10% down
Then, of the total outstanding balance...
30% at excavation
30% at gunite
30% at tile and coping
10% at plaster
poolguynj
17 years ago
viennamommy19;

First, Happy Mother's Day.

Oh Boy, built in cost overrun. 110% of the contract. Just kidding but the 110% is puzzling.

Scott
mikethepoolguy
17 years ago
All of the above look normal to me, especially the one that adds up to 110%.
Niki Friedman
17 years ago
You have to read the note in its entirety! I said 10% down and then the rest are percentages of the outstanding balance.
tfons1219
17 years ago
too many mimosas at mom's brunch!
mikethepoolguy
17 years ago
110% still sounds good to me, that way I can have the lowest price in town!
ladyanglertx
17 years ago
Tim,

We started our build two weeks ago outside of San Antonio, Texas. Our payment schedule changed a bit from the original quote process. ItÂs rather top heavy though.

We went with a large citywide/regional PB. They do not sub out the work including P-Tec.

0% down
70% after shotcrete
I was ok with this because I had excavation, steel, plumbing, equipment installed/plumbed on pad, and shotcrete before having to pay a cent. Equipment included 60 DE filter, 320, three pumps, Jandy NL valves etc.

25% after tile & coping + any additional change orders from original contract up to this point.
5% after plaster and startup or "until you are fully satisfied". Not much left at this point.

We are at flagstone/tile/coping phase. I changed the tile at the last minute so we are waiting on that. Keep in mind that my pool is probably a "budget" pool compared to most on here. ItÂs a 18x40 freeform/ NO spa.

We are having some 100+ degree weather and IÂm so ready for it to be done.

Good luck on your project!