Do you stay out of that side of the project, or do you prefer to be a resource for them and recommend specific options like a renovation loan?
Straight up is always best, we require a deposit and payments at specific intervals, I cover that with each client at the signing of the contract
We usually have conversation with homeowner face to face or via emails. Explain to the customer all aspects of the contract, especially part about deposit, progress payments and timeframe.
make it very clear on the contract and point out to them when and how much money is to be due
It is usually part of the questions asked during the meeting or consultation if the customer is looking at financing for this project. This can be discussed also when the topic of progress payments come into play.
You must be up front with payment terms. Most companies providing remodeling work will require a down payment or “mob fee”, then progress payments. I always spell out my progress payments so the homeowner knows ahead of the invoice when to expect a payment. We also like to know if the homeowner has secured the appropriate funds for the project. Being up front with a client is always the best route. This will build trust in your relationship.
This way we handle payments. First, we go for a walk through. second, we send out a contract proposal. on the proposal, there is all the payment information. That way no reason for back and forth.