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How to Replace Calculations to the Home Repair Contract

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in order to analyze the numbers on a distressed property either to fix and flip or wholesale to a fixing clipper its important you know how to quickly determine the cost of repairs so you can decide your offer price so on this video using updated 2022 numbers im going to show you my proven algorithm for how to calculate the cost of repairs on any house in 60 seconds or less coming up [Music] for a limited time you can get a free copy of jerry nortons data cruncher software which finds cheap houses in your area get it now at mydatacruncher.com if youre new here im jerry norton i make millions of dollars a year wholesaling and flipping houses and here on my youtube channel i show you how to do the same so if you want to be a flipping genius like me and live your dream life subscribe to my channel and watch my videos as a flipper you know how important it is to accurately calculate the cost of repairs when considering a deal get that wrong and you can be way off on your numbers and b

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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What is the acceptable change order percentage?

A change order is a written supplemental agreement to an awarded construction contract agreed upon by all parties to that contract subsequent to the execution of that original contract. approve change orders that do not cumulatively exceed 10% of the original contract price.

Which of these clauses must be included in your service and repair contract?

Service and Repair Contracts in California are construction contracts between a homeowner or tenant and a contractor.The contract must: Extra Work and Change Orders. Commercial General Liability Insurance. Workers Compensation Insurance. The buyers right to cancel before work begins.

What three things must agreed upon for a change order?

Change orders typically consist of three parts: the project information, the changes to the contract, and the change in cost and time for performance. Project information includes the project name and the owners and contractors information.

Can a contractor charge more than the quote?

An estimate is how much the contractor thinks the job will cost. The actual price may be more or less, but it shouldnt be too much more, and it will only rarely be less! A quote is an offer to do a job for an exact price. If you accept the quote then the contractor cant charge you more than the agreed price.

What are the basic terms of a service contract?

Terms of service agreements typically outline the service being provided, how it works, what to expect as a customer, what your obligations are as a customer, how to properly use the service, and more.

What are clauses in a construction contract?

Each construction contract needs to include a clause outlining your payment terms. More specifically, the contract should specify how much the client will pay and when the payments will be due. If the project is ongoing, the payment terms clause should specify how often payment is due.

What must be included in a California home improvement contract?

The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the contract.

What are the 5 essential elements of a construction contract?

5 Key Elements Every Construction Contract Should Contain 1) The projects scope. 2) The cost and payment terms. 3) The projects time frame. 4) Protection against lien law. 5) Dispute resolution clauses.

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