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scorpious 07-29-2010 05:13 PM

Contractor pre construction retainer
 
Hello All,

We are in the process of having our house built. The architect has come up with full construction set and everything has been engineered. We are are in the process of getting the GC come up with a complete bid to build the house. Knowing that this is a laborious task, and usually all GC's ask for an agreement. Is there a cost involved for a estimate?

From your experience can you tell me how much GC's have quoted for an complete construction cost bid? and if they are selected to do the work, does the agreement quote that this amount will be absorbed into the construction cost after its built.

Finally what important aspects should I look for in such an agreement.

thanks

Ashi

forresth 07-29-2010 05:42 PM

hardly a DIY question

Daniel Holzman 07-29-2010 10:00 PM

You are effectively asking contract questions, normally way beyond what this site is structured to handle. You may want to consult an attorney. Also, you need to be careful to distinguish an estimate from a bid. An estimate is just that, an dollar figure derived by examining the plans, thought to be close to the eventual cost to build. A bid is a quote to perform work, which if accepted generally becomes part of a binding contract. So are you looking for a bid or an estimate?

scorpious 07-29-2010 11:32 PM

Quote:

Originally Posted by Daniel Holzman (Post 477546)
You are effectively asking contract questions, normally way beyond what this site is structured to handle. You may want to consult an attorney. Also, you need to be careful to distinguish an estimate from a bid. An estimate is just that, an dollar figure derived by examining the plans, thought to be close to the eventual cost to build. A bid is a quote to perform work, which if accepted generally becomes part of a binding contract. So are you looking for a bid or an estimate?

Sorry for posting the wrong question in this forum. We are looking for a bid, which will make its way into a binding contract if all is acceptable. The GC is asking for $2500 for all the work from writing up the bid to building the house. and if it goes that way this cost will be absorbed into the building cost.

thanks


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