Due diligence on a 40 unit

[Ryan Chimon]

I got a quote from a general contractor and he has a piece for in there for 7,500 to do due diligence. He’s saying it’s checking with the city to check the code. Does this sound reasonable?

[Michael S.]

You need to provide more information for people to give sound advice. $7,500 seems high but who knows how big of a contact it is. Generally a good rule of thumb is to think of it in hours. At $50 an hour that’s 150 hours or more than three weeks of work “talking to the city”. Alternatively, if you haven’t received multiple bids you definitely should. And if you did, compare it to those or ask the contractor to remove it / take it down based on the fact nobody else included it.