I am planning to build my house and for that i know a good contractor who is known for his honesty. The terms he is setting is that he will overlook the buying of material and overlook the labor and for that supervision he will charge me 10% of the total cost of the expenditure. So in a way its neither labor cost nor turnkey. Please someone shed some light on it as whether these terms also exist in market and is it favorable for the client like me.
Thanks.
P.S- i am hiring this contractor as i will not be able to give time on the project. The max i can visit is once a week.