Contractor On A Property

8 Replies

Hi, I've found a property that needs work I called a contractor to come out and give me an estimate but, of course he didn't come I figured because he isn't making money to just come look at a property. My question is how can I get an accurate estimate on repair cost or should I pay a contractor to come out?  

It depends on the contractor and how much you want to work with them - I've gotten contractors to come out for free estimates and sometimes I'll pay them like $50 to come out and have them subtract it from the work if we hire them (i.e. if you get the job this $50 will count towards it).

@Khaled Helmi I'm a wholesaler so I just want them to give me a basic repair price on a renovation so I can give it to the buyer to show I did my homework.

@ Carl Whitford - That is exactly why they want to charge you to come out. We see that all the time if the home is in escrow or under contract. Makes sense though if you think about it from their perspective - what is the chance that they will actually get the business from providing a free estimate in this scenario? Best to establish a relationship with a good and reasonably priced contractor and work out a reasonable fee for this service.

@Carl Whitfield What kind of contractor does not make money on a new construction? Give him a set of plans, he don’t need to visit your property.

Originally posted by @Carl Whitfield :

@Khaled Helmi I'm a wholesaler so I just want them to give me a basic repair price on a renovation so I can give it to the buyer to show I did my homework.

Why would a contractor want to waste their time to look at a job they have a snowballs chance in hell getting ?

First thing is $ 50 to give you an estimate just  for your information , I would consider that an insult .  A written est is going to take a a minimum of 3 or 5 hours  hours of my time not including going to look at the property .   

If you want a contractor to do all that work , you need to make it worth their time , more in the neighborhood of $ 300 to $ 500 for a written proposal . 

$50 won’t even get me out of bed. heh.

If you are wholesaling it, then he stands 100% chance of not getting the property, as you aren't even going to be renovating it yourself.

I agree with the contractors on the thread, I would expect him to be charging $300-500 minimum to provide that for you.

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