Why Contractor Bids Matter More Than You Think
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Why Contractor Bids Matter More Than You Think
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A contractor’s bid does far more than establish the cost of a renovation project. It becomes the roadmap used to evaluate the project, structure the loan, process draws, and determine how much the contractor has earned as work is completed.
In this episode of renovatED for Lenders, Jennifer “The Reno Gal®” Goldsby explains why vague, incomplete, or lump-sum bids can create costly problems long after closing. Learn what a contractor's bid should contain, why labor and material costs must be assigned to individual work items, and how stronger bid requirements help protect the borrower, contractor, lender, and renovation budget.
Sponsored by Land Gorilla
renovatED for Lenders is the podcast dedicated to helping mortgage lenders build, improve, and scale successful renovation lending platforms.