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New-home builders transitioning to remodeling need to watch out for these issues
Define the problems you will be responsible for and set clear procedures for final payment
Contractors need to allow for material and labor price increases that may occur after they submit a quote
Checking weekly that actual expenses are in line with the estimate alerts you to overruns
Use a "professional services agreement" to get compensated for consulting time
A good strategy starts with knowing when to say no.
Spelling out the project scope and your company's administrative procedures keeps the job running smoothly.
Contract clauses that keep you in control
If you and your project manager spend 13 hours preparing an estimate for a remodeling job, how much money have you invested in the project? Would you have been better off spending those 13 hours getting things done on one of your current projects?
Recovering administrative costs
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