How much can a contractor charge over an estimate?

How much can a contractor charge over an estimate?

Estimates, generally, must be professionally reasonable. A 10-20% overage might be considered reasonable, especially if the contractor discovered issues along the way that he couldn’t have been aware of initially (for example, mold or flooding).

Can a contractor charge you more than the contract?

An estimate is how much the contractor thinks the job will cost. The actual price may be more or less, but it shouldn’t be too much more, and it will only rarely be less! A quote is an offer to do a job for an exact price. If you accept the quote then the contractor can’t charge you more than the agreed price.

Can a company charge more than their quote?

A quote is an offer to do a job for a specified price. Once you accept a quote, the provider can’t charge you more than that unless you agree to extra work, or the scope of the job changes while it is underway. Legally, this is known as a variation to your contract.

Is an estimate legally binding UK?

An Estimate is Not Legally Binding An estimate is unlikely to be detailed and give specifics of any work to be done, only a generalisation, whereas a quote will be detailed with a clear final cost, and on some occasions a complete breakdown of the elements involved.

What is the difference between a quote and an estimate UK?

The main difference between a quotation and an estimate is that: a quotation is an agreed fixed price. an estimate is approximate price that may change.

Is there a difference between a quote and an estimate?

An estimate is a best guess of how much a job might cost. ​ A quote is more exact. Once you’ve accepted a quote, the contractor has to do the work for that price.

What is the legal difference between a quote and an estimate?

Estimates are a rough idea of price. They should be used as an initial GUIDE PRICE ONLY. Quotes are legally binding and should ONLY be used when you are certain of the costs involved. NEVER label a written estimate as a ‘Quote’ – You can be held to the figure provided.

Can a contractor charge more than the estimate?

Contractors often assume that “the work cost what the work cost” and the owner is required to pay that price, even when it exceeds the estimate. However, there are two important exceptions to this principle: The estimate may be found to be a contract price, or a contract-ceiling price.

How much can I make as a contractor in the UK?

For instance, an employed software developer in the UK earns £40,000 on average. In London it’s around £47,000. However, a contractor working as a software developer can earn £350 per day – or £91,000 a year – and in London that rate increases to £425 or £110,500 (although these figures reflect the contractor not taking holidays).

How much did my contractor charge for duct work?

However they had to do a box and install on the wall to cover part of the duct, but this was less than they would be doing before, when provided the estimate. However they are saying the amount of work was more as…

Can a contractor charge me 2K more than the original?

A few bucks for legal fees could easily pay for itself if the cost overrun is that significant (and $2K, IMHO, is VERY significant). Answered by LCD: You certainly have the right to demand (nicely) that he justify it before you pay.