A punch list is the written list of incomplete or defective items at substantial completion. Final payment is released after those items are done and the final inspection has passed, not before. That timing is your only remaining leverage.
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Substantial completion means the work is usable for its intended purpose even though minor items remain. It is the point at which you walk the project with the contractor and write everything down. How to build a useful punch list. Walk in daylight, room by room, with a notepad or a phone. Open and close every door and window. Test every switch, outlet, and fixture. Run water at every fixture and check under sinks. Look at paint, caulk lines, trim joints, grout, and transitions. Check that hardware is installed and adjusted. Look for damage to adjacent surfaces from the work. Photograph each item and number the list. Then make it a document. Both parties sign it, with a target completion date for the items. A list said out loud on a walkthrough is not a list. On final payment. Hold enough to matter until the list is closed, which is why retainage of 5 to 10 percent from the start is worth negotiating rather than trying to hold back at the end. Confirm the final inspection has passed and that you have the certificate of occupancy where one applies. Collect final lien waivers from the general and from the subs and suppliers. Collect warranties, manuals, and any equipment registration. What to do if items linger. Put the request in writing with dates, since a paper trail is what any later remedy depends on. Reference the signed punch list. If the contractor stops responding while holding your final payment, the balance you retained is the practical leverage, and paying it out in the hope of goodwill is the mistake to avoid. One thing to keep in perspective: minor callbacks are normal on every project, and a contractor who returns promptly for them is doing the job correctly.