What do you think of this payment plan?, Property appraisal

Hello everyone,
I unfortunately have to ask you a question that’s been on my mind.
What do you think of the payment plan from my GU?

1. 4% after submitting the building application
2. 15% after start of construction
3. 15% after ground floor ceiling
4. 12% after construction of the roof truss
5. 8% after start of roofing work
6. 10% after completion of facing
7. 10% after rough installation of windows
8. 8% after start of interior plastering
9. 8% after start of screed work
10. 8% after start of tiling work
11. 2% upon acceptance and move-in

I am not buying the plot from the GU but directly from the city.

Regards
André

Hello

only number 1 catches my eye. We start with the payments from the earthworks and for that with a higher installment excluding retention.

How fast is the building permit process? If you have the 4% from the equity, it's okay, but if you pay it from the loan, and this process takes 8 months, you are already paying interest on this loan.

I wouldn't want to do that.

Hello,

for us it was the same, the start of the earthworks was more and we retained the 5% security retention. I would also agree with the GU that you would rather pay the 19% (sum of item 1+2) at the start of the earthworks. Ultimately, he has to reduce the payment plan to 7 installments - that was the information at least from our lawyer (we also had x items). Then he would anyway combine one thing or another.

Regards

The 2% at the end is too little. What if there are defects found during the acceptance? You won’t get much from 2%. What you have as the final payment, we withheld from the last installment because there were minor defects. (Scratches on the stairs, poor or missing silicone joints, and a blemish on the exterior plaster.) Our last installment was 5%.

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Hello!

In my layman’s opinion, this payment plan is absolutely not okay. There have already been a few hints. Very important: You always pay after the completion of a trade!

But one more thing: You need to search the forum here. Bauexperte has already commented on payment plans a few times and if I remember correctly, she always said, for the closed shell construction max. 55 or 60%. That would already be 74% for you after the installation of the windows.
After that there are still some expensive trades to come! Where is the installation of the heating and sanitary fixtures in your plan? Depending on what you install, that can get quite expensive. And if the worst-case scenario occurs that you would have to finish building yourself with the remaining open money from then on (I’m keeping my fingers crossed that doesn’t happen!), then the money probably won’t be enough. This just doesn’t add up at all, unfortunately.

Best regards
Goldbeere