Accept payment plan despite legal defects?

The payment schedule itself is not the worst thing there is, but I would have a problem with the basic attitude of the construction company or with the way the day-to-day business seems to be running there. It can go well, it can also become the most expensive mistake of your life.

Thank you very much for your answers. I also believe that the items are understandable and correspond to the services provided. At first, I was suspicious because fewer installments are common. Overall, we have a good impression because our ideas and wishes were addressed beforehand with a lot of patience, good ideas, and without pressure.

We also didn't want to spoil the mood right at the beginning and asked how he wanted it, whether we should withhold or if he would provide us with a guarantee.

Thank you, that is a good approach. Did you clarify this before signing?

Thank you, that is a good approach. Did you clarify that before signing?

No, afterwards. The retention security itself is completely undisputed. The first interim invoice came in (exactly 5% for us) and then I politely inquired how he intended to pay it. That was not an issue for him at all.

It can go well, but it can also become the most expensive mistake of your life

I hope for the best and expect the worst - and try to clarify as many questions as possible beforehand. Financial statements... look "ok"... can change quickly. I don't want to drive myself crazy over that.

The payment schedule is actually great, compared to that our "Baumeister-Haus" payment schedule is a disaster (few, large instalments and overpaid from the start). But without assignment of the loan disbursement, so we just swallowed one to avoid the other.

We are currently also facing this problem with a Baumeister-Haus partner company. The company is well positioned and you don’t hear anything bad anywhere. A local, very long-established construction company under the BM flag.

Did you simply ask whether you could omit the assignment declaration?

The builder hereby irrevocably assigns his payment claims against the credit institutions financing the purchase price up to the amount of the purchase price to the BAUMEISTER-HAUS partner company. The BM partner company is entitled to notify the respective credit institution of this assignment at any time and to demand direct payment to itself in accordance with the contractual agreements.

Otherwise, there is still the clause of the "financing confirmation," which our Interhyp advisor has never seen before.

The payment schedule is as follows:

[*]8% after handing over the building application documents
[*]10% after foundation/slab
[*]15% after raw ceiling
[*]20% after roof covering
[*]17% after sanitary and electrical rough installation
[*]15% after window installation and interior plaster without finishing plaster work
[*]5% after laying screed and wall tiles
[*]10% upon acceptance

We are currently also facing this problem with a Baumeister-Haus partner company.

I have answered your question in your thread and find it unnecessary that you duplicate it here as an "answer" in another thread.