Installment plan - Two-story house without basement

A construction company has offered me the following installment plan for the payment of a two-story house without a basement on a slab foundation:

5% before the planning meeting (is that normal?)
10% upon handing over the building application/building notification
15% upon completion of the slab foundation
15% upon completion of the ground floor walls
15% upon completion of the upper floor walls
10% upon completion of the roof structure
5% upon completion of the roof covering
8% upon completion of the window installation
5% upon completion of the rough installation of the heating system
3% upon completion of the rough installation of plumbing
2% upon completion of the rough installation of electrical systems
5% upon completion of the exterior plaster or facing masonry
2% before acceptance, secured by a performance bond from the company

The first installments seem very high to me - what is your opinion? Thank you very much for your answers!

Hello,

The first installments seem very high to me - what is your opinion?

If the shell is closed, according to this payment plan you have already paid 83% of the house price; completely unacceptable and in my opinion highly unprofessional – a maximum of 60-62% should have to be paid at this point - according to the construction progress.

Which provider is behind this payment plan?

Kind regards

Hello,
If the shell construction is closed, you have already paid 83% of the house price according to this payment plan; completely unacceptable and in my opinion highly unprofessional – a maximum of 60-62% should have been paid by this time - according to construction progress.
Which provider is behind this payment plan?
Kind regards

Thank you for the response, I thought so too, but now I am more confident in rejecting it.

Is it legally permissible to link the contract content and the provider and publish it here?

Due to encouragement via PM, I have decided to name the company. It is HomeMaker from Paderborn.

However, I want to emphasize that it is not my goal to spread anything negative about the company, because apart from this payment plan, which seems unusual to me, I have nothing negative to report so far – on the contrary, the previous meetings took place in a good atmosphere and did not give a bad impression. The offers appear very competitive, even if, for example, painting work, tiles, steps in front of the house, etc. are not included in turnkey houses.

However, I have not been able to find many information about HomeMaker on the internet (the company has not been on the market for very long). Perhaps the old saying applies here: "No News is good News"?...

Upon inquiry, I was informed that the "front-loaded" payment plan was related to the high construction speed: work on the house would continue even if the payment had not yet been received. Another payment plan might be possible, but it would reduce the construction speed, because then, as with other developers, each construction step would first have to wait for the payment to be received, which could lead to pauses. In addition, reference was made to the additionally offered "construction warranty bond" (5% of the construction sum) and the "completion bond" (5%, optionally 10% of the purchase price for an extra charge), which would justify the payment plan.

Hello,

how are the 5% before the planning meeting justified? What is meant by planning meeting?

Construction on the house continues even if the payment has not yet been received.

What kind of nonsense is that?
Which craftsman, who issues an interim invoice, waits so long to continue the work until the interim payment has been received?
You go into advance payment and therefore I would keep my hands off this provider.

Regards

Hello,

how are the 5% before the planning meeting justified? What is meant by planning meeting?



what kind of nonsense is that?
Which craftsman, who issues a partial invoice, waits that long to continue work until the partial payment has been received?
You provide payment in advance and that’s why I would keep my hands off this provider.

Regards

My dear Jacki
take to heart the comments from Bauexperte and Curb and keep your hands off the provider! Talking it up and coming across as likeable / competent is not really difficult for most laypeople – there are even special seminars for that

By the way, most financiers don’t like such payment plans either, sometimes someone points it out, or a financing is rejected due to "certain" concerns.