I have received a contract from my builder and it has the following schedule:
Deposit - 5%
Slab and footings - 10%
Lower frame - 15%
Upper frame - 25%
Lock up - 35%
Ready to paint - 7%
Completion - 3%
I have a strong feeling that this schedule puts me at a risk should the builder go bust after the framing or the lock up stage is completed.
Can anyone comment on that?