"Carl....love your site...thanks so much..i just broke ground...owner builder and the first sub is trying to go up on me...the man digging the basement..was told the price was going to be $1200 and now that he is done, he is telling me that it took much longer and will be way more..he came with references..so he is good..he gave me a verbal price estimate..i cannot operate like this..this throws me over budget..how can i stop this..thank you,
Greg"
Hi Greg,
He’s good all right…good at getting more money from unsuspecting 1st time owner builders.
VERBAL CONTRACTS (especially in Real estate) ARE WORTHLESS!
ALL SUBCONTRACTORS BIDS SHOULD BE IN WRITING, FOR A SPECIFIC JOB AND FOR A SPECIFIC DOLLAR AMOUNT.
If a subcontractor bids low, that is their problem, not yours.
Since this is your first experience and you won’t be familiar with prices in your area, get three or four bids, or quotes, from different subs before selecting one.
You may use the very simple ones I have provided on my “Getting Started” page or an attorney can provide you with one. Subcontractors may have their own contracts. At any rate, use one.
Spell out your specifications thoroughly in your plans to be sure your bids are comparable and that all subs are bidding on exactly the same work.
And, read my Finding Your Contractors and Subcontractors.
Good luck,
Carl Heldmann, byoh.com