Greetings Fellow Realty Kitchen Readers!
If you’ve been following my previous blogs, you will notice that my focus has been on getting the right contractor for the right job around your home. In this article I’d like to focus on getting a proposal or a “quote”.
First thing is that the contractor should provide EVERYTHING IN WRITING, from the job description all the way through to how long the job will take from start to completion, including a breakdown of the price and the total estimate. The more that is in the contract the better, and make sure the contractor explains the terminology to you in a manner that you can understand.
When you look at a contract it’s important to know that a Standard Contract doesn’t exist, however you should be looking for specific items on the contract, namely:
1) The correct and complete address of the property being worked on,
2) Your name and address,
3) The Contractors name, address and telephone number (if a corporate name is used, the company’s official on-site representative should be named)
4) A detailed description of the project, plus sketches and a list of materials which will be used,
5) The type of work that will be subcontracted
6) The right to retain a mechanic’s lien holdback as specified under provincial law,
7) A clause pertaining to the work being done must conform to the requirements of all applicable codes
8 ) Start and completion dates
9) The Contract must state who is responsible for obtaining all necessary permits, licences and certificates (either homeowner or Contractor)
10) It’s also crucial to know that the contractor is responsible for removing all debris as soon as the construction is completed
11) All warranties must be explained including what is covered and for how long
12) The contractor must also include the Contractor’s public liability and property damage insurance
And last but not least!
13) The price and terms of payment!
I’m writing this with the hopes that all who read this are equipped with the necessary knowledge to avoid being harmed…
Always do your research and due diligence before embarking on a new action!
Manjit Virk
Sales Representative with Signature Service GMAC Real Estate
www.manjittorontohomes.com
