If you pay the contractor in full and he does not pay the subcontractors or the supplier, keep in mind they can file a lien against your property. Be sure to get lien waivers signed and it never hurts to pay the supplier directly after you have been supplied an invoice.
Do you have a complete set of plans showing exactly what you are going to build? Has a licensed architect or engineer reviewed your plans? Has your contractor obtained all necessary permits? These are all important issues that need to be addressed before your project begins.
Having a complete set of plans that shows exactly what you are going to build is not only important for monitoring the project, it is important for getting multiple quotes for the work. If the plans seem confusing in any way, having a licensed architect or engineer review your plans is always a smart move.
When it comes to getting the building permit for your project, make sure the contractor you choose does so under his name or the name of his business. Then make sure to get a copy of the permit for your records before the project begins or any money is paid.
If a contractor asks you to obtain the building permit, run! That’s not how a legitimate project or contractor works.