Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

  • That’s why large projects require a performance bond and a payment bond. The performance bond covers the project, the payment bond covers subcontractors.

    Not sure what the feasibility is for a household project, but it’s always good to look for a contractor who is licensed, bonded, and insured and ask for those documents before signing.