Nearly there!

[Moo]

There's a ***** of light at the end of the tunnel. The builders have nearly finished putting the house back together (this weekend we may be enjoying our first bath!!!) and will soon be presenting us with their final bill.
How much (a percentage?) should we retain, and for how long?

 

[LadyArowana]

Very well done, must feel good to be at that stage. Can't really help with your question, sorry.

 

[88v8]

Depending what's been done, complexity, likely time for problems to manifest, perhaps 10% for 6-12 months.
However....... this needs to be specified up-front as part of the contract terms. A retention is not something you can spring on the builder when he presents his bill.
Sorry...

Ivor

 

[jocelyn plummer]

Bearing in mind 88v8's reply, and if you have built up a good relationship with the builder, it seems you could have two options:

1) Have a chat with him about retention and negotiate the amount and time. before he actually gives you the bill. or :
2) Have a chat with him and get reassurance that any faults/failure will be put right. Then pay up in full

It's all about negotiation and kit kats!!!
Good Luck

 

[Feltwell]

If you've not negotiated a specified percentage up front before the work started, then it's not fair to spring that now on the builder.

If you're not happy with any of their work then by all means hold back some of the final payment until the "snagging" is completed, but as soon as it's done I'd say you should settle in full.

After all, if you get your car fixed at a garage you don't hold back part of the payment just in case the new part fails in a few months.

 

[JoceAndChris]

Wonderful news Moo, you must be very excited. Hope you are in fact very pleased with the builders' work?

 

[Moo]

Yes, we're very pleased with the builders. In fact, in a funny sort of way, we're going to miss them when they've gone.
And I'm glad that the consensus seems to be against withholding some of the payment, because I'm confident that they'd come back and sort out any problems should they occur. It's the OH, really, who suggested that I ask the question.

 

[jocelyn plummer]

I am sure all will be well---just remember to sort it all out before the job's done next time!!

Enjoy your first bath-- Jo Malone and champers at the ready I hope!

 

[LadyArowana]

Yes, we're very pleased with the builders. In fact, in a funny sort of way, we're going to miss them when they've gone.
And I'm glad that the consensus seems to be against withholding some of the payment, because I'm confident that they'd come back and sort out any problems should they occur. It's the OH, really, who suggested that I ask the question.

A word of support from one whose builders did indeed come back. Although we went through a snag list at the end of our project I was leaving to go back to Singapore and so it was about 6months before I could check the place again. A few little things needed attention as stuff had dried out/ moved/ whatever and he happily returned and they got sorted. In fact I still keep up with him, usually have a catch up when I am in London. When I sorted out lots of stuff from our storage unit he was happy to receive a large bag of old towels and sheets to use on site.

 

[Penners]

As others have said, I don't think you can suddenly require your builder to agree to a retention that wasn't negotiated at the start of the job. However, as Joss has suggested, he might be prepared for you to hang on to a very modest sum against any snagging that crops up. But I do agree that this should be the subject of an amicable discussion between you.

I'm always slightly nervous about things being done on the basis of "but he's such a nice chap". Nice chaps can suddenly turn out not to be so nice if you get into a dispute about anything. I know I'm a terrible cynic, and I very much hope that, in your case, no such problems arise.

Anyway, to a much more important topic: when do we see pictures? Lots of them!