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I am having a new house built (3500 sq. ft.). I own the lot, and the house will cost about $650k. I will pay cash for the house.
How many draws are normal? At what stages?
Maybe you can use the AIA Application And Certificate for Payment.
AIA document G702.
This form will let you break down the value of all phases of the work by trade and make it easy to track where you are by dollar and presentage
Each trade would submit this form with the request for payment.
first ive ever heard of that.. it depends on the builder regarding if its a turnkey crew or if its all subbed out.. meaning one crew does everything carpentry related or different crews do different things
any company ive worked for its usually in several stages, excavation and foundation complete
roof tight- all structural framing is complete, roofing done and windows are insatlled
rough ins complete- electrical, plumbing, heating, comm wiring comlete
post drywall- insulation is complete, drywall is up and taped
finish stage- trim is 80% complete other than baseboard.. paint is pretty much done, all flooring is complete
final payment- squaring up with the gc for any outstanding extras.. all change orders during finish stage are now payed for,, keys are in hand and occupancy permit obtained