With home construction, who bears the risk of a project going over budget? For

Sep 24, 2024
8:26:04pm

Odysseus Truly Addicted User

example, you’re quoted $50k for a project but the sub-contractor does the work and charges $70k.

Is that generally on the sub-contractor, contractor, or homeowner?

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Odysseus

Previous username: THUNDERDOME69
Bio page: Odysseus
Joined: Oct 28, 2014
Last login: Sep 24, 2024
Total posts: 34,039 (11,986 FO)

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Messages

Author

Time

With home construction, who bears the risk of a project going over budget? For

Odysseus

8:26pm

Depends on your contract with the builder.

cougsrule

8:28pm

Any contractor that knows what they are doing is going to charge cost+

RexIdaCoug

8:31pm

Not true. If you are a good estimator, you

Jdoc

8:32pm

I edited my post

RexIdaCoug

8:34pm

Depends on the contract. Was the estimate

Jdoc

8:31pm

Did you sign a contract? If so, what does it say?

Corn Pop

8:35pm

No contract. Just a bid, put a % down, then they got to work

Odysseus

8:46pm

If it was a bid and the contractor did not

Jdoc

8:49pm

Get a contract, or you're assuming the risk.

Corn Pop

8:49pm

And estimate/bid is a contract once agreed to by both sides.

Jdoc

8:52pm

Regardless of the contract, contractors are very good at finding ways to make you lay for it.

Baron

8:40pm

Wow. Even worse than I thought

Odysseus

8:43pm

Be weary with estimates. Demand 3 or 4 even more per trade or scope. I run into

bd52

8:43pm

Never get an estimate, always get a bid. Sometimes bids come in

TJD

8:45pm

This is more of a generic question because our contractor has been good to work

Odysseus

8:49pm

Sounds like they busted their bid. Not your fault, but do you want to spend

Jdoc

8:51pm

In this case it’s definitely not worth it because they took the loss on most of

Odysseus

9:00pm

Dirts hard to estimate and that's on them. They should have given you yardage

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