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Schedule of values (SOV)
A schedule of values is a list that breaks the contract price into line items like framing, plumbing, electrical, and finishes.
Why it matters
SOV supports progress payments and helps you track where money is going.
Where people get this wrong
A one-line payment plan is not an SOV. SOV line items should match real work stages, not vague buckets.
Real-world example
A builder asks for 40 percent payment before framing starts. An SOV helps you tie payments to real completion instead of hope.
Where this hits your build
This comes up early, before construction starts. It affects your contract, your budget, or both. Misunderstanding it can cost you money or leverage.
Most people do not just struggle with terms. They struggle with the decisions tied to them.
See how HouseChalk helps with the decisions behind terms like this