There is no guarantee that any chosen Contractor will complete a project with no issues whatsoever. However, real estate developers want to choose contractors that will provide the best work with the quickest completion time for the best price. In narrowing down your search, consider the following:
Ask for recommendations from a variety of industry professionals. A contractor’s may have a reputation other real estate developers, agents, lenders, and even other contractors. Listen to what others have to say about a contractor they know about and pay close attention to any negative feedback.
Search for your candidates on the state registry of contractors database. It is best to select a licensed contractor who is bonded and insured, which makes it easier to hold them accountable. https://roc.az.gov/contractor-search
Meet your contractor on a few occasions. Get to know their personality, punctuality, and problem-solving skills. If you are not impressed, reconsider further discussions with them.
Evaluate each contractor’s portfolio. Don’t just ask for pictures, have the contractor walk you through a couple of their current/previous projects. Our consultants recommend you look at a minimum of two jobs, at least one project at an earlier stage of construction and other much further along (ideally closer to completion). Pay attention to their detail and the other trades on site to determine whether this prospective contractor’s quality of workmanship meets your expectations.
Request a proposal. This should include an estimate of all costs the contractor would charge you, as well as a brief write up on how the contractor would approach your project. Compare this proposal with others that you receive to see if there are significant differences in price and offerings. If so, investigate why this is the case.
Ask each contractor what compensation structure they have in mind. Some might be open to reasonable arrangements, but this should be a mutually agreed upon arrangement that allows for the contractor to make progress in obtaining materials and labor while making sure you are fiscally responsible so that they are not paid entirely up front.
These are just some of many factors to consider when selecting a contractor for your construction project. Contact WALL2WALL Consultancy to learn more about selecting the right trades and making sure your construction costs maintain project feasibility.