What financial information should I not share with a contracter fixing my bathtub?

Question

I'm looking to get a tubliner and tub walls installed. 1 contracter already wanted to know who else I've looked into. I found that suspicous. He's tried to offer me a deal of $3800 for a new tub and walls. I have limited $$$ and don't want to get swindled. Any advise from experience or knowledge is appreciated.

Answer 1

Absolutely none! You should give your contractor absolutely no financial information about yourself and absolutely no information about other contractors and their bids.

You also asked for advice and recommendations. Here is some advice on how to find a good contractor for your job.

(1) BE CAREFUL. You are very vulnerable to being the target of scam artists and frauds. You have very special needs: your job requires a fully licensed general contractor to move walls and plumbing (and probably electrical), so an unlicensed "handman" cannot do it legally. Yet your job is extremely small for the vast majority of good, licensed general contractors. As a result, you will have to be extra careful to verify everything, so that you are not duped.

(2) WRITE DOWN EVERYTHING. Starting now, keep a detailed "log". Get a new notebook, to be used only for this project. When anything happens, write down the date, the exact time, who was there, and what happened. Make notes of every telephone call -- including your first calls just to get a bid. Write down the name of every person you talk with on the phone and every person who enters your home. (Make absolutely sure to ask to see the ID of each person who enters your home, and write down their names and other details in your log.)

You have to make sure that the person at your home is really the contractor you're expecting. Your job is a small project for a licensed contractor but a _huge_ project for unlicensed handymen, so make sure that you are not being victimized by having an unlicensed handyman pretend to be a licensed contractor.

(3) DEAL ONLY WITH LICENSED GENERAL CONTRACTORS. In order to contract for improvements that cost more than a few hundred dollars (the amount varies by state), the person must be licensed as a "general contractor".

A "licensed general contractor" is licensed to do almost all building work. There are also specialized contractor licenses -- such a "electrical" and "plumbing" contractor licenses. A "general contractor" can do plumbing, but a "plumbing contractor" cannot legally do "general contracting". If you're moving walls, then in most states you must have a "general contractor".

Search online and/or in your local yellow pages under "general contractor" for the names of contractors in your area.

A contractor who wants your job will have to come to inspect your house. So, before you let a "stranger" into your house, you must ask for their contractor's license number. Then go online to your state's "contractor's license board" (it may have a slightly different name, so google), and verify that the contractor does have a "general contractor's license" and does not have any "adverse records" on file.

Every state and many counties and cities have very specific rules on contractors. You do not mention where you live, so we cannot give specific information about the licensing requirements for contractors in your location. In most places, it is illegal for any person to do any contracting work (such as installing new walls and bathroom fixtures) unless the person is a licensed general contractor.

In almost every state, the "state contractors license board" has a website that gives good information about every licensed contractor. Check them out before you contact them to make sure that they're licensed and have no adverse reports.

(4) GET 3+ BIDS. Get at least three detailed bids from licensed general contractors.

If the contractor is licensed and apparently reputable, then make an appointment for the contractor to inspect the job-site in your home. Make it very clear that you want a _written_ "contract proposal with a cost breakdown".

It is always a good idea to have a friend with you when the contractor visits. Also, when the contractor arrives at your door, ask to see both his legal identification (e.g. driver's license) and contractor's license.

GIVE EACH BIDDER A WRITTEN "RFP". Write up your own "RFP" ("request for proposal"). Your RFP for this job should include the following info (and it should be no longer than a single page): the location of the job (address of home); the location and size of the jobsite (e.g. square feet of the current bathroom); the description of the work to be done (e.g. "move the north wall approx. 3' to the north", "install new tile around tub", "install new electric outlet on counter" etc.); when you want the job to begin (this is important -- you have to work on your schedule and find a contractor who can work within your time frame); and the requirement that the contractor will be responsible to prepare all plans, obtain all permits, etc (see below). Attach a rough drawing of the "before" and "after". As you get bids, you will be able to improve your own RFP by copying information from the bids.

DO NOT SIGN ANYTHING at this stage. You are only getting information -- you are not making any decisions.

DO NOT ALLOW ANYONE TO DO ANY WORK at this stage. Some unreputable contractors will ask you for permission to "open up the wall" or do other work. You must refuse (and write it down in your "log"). (Reason: you could receive a huge bill for "work" which the contractor says you authorized, and if you don't pay, you can lose your house. So do not let anyone do any more than "look and measure".

PAY ABSOLUTELY NOTHING for any bid or other information. If any contractor tells you that you will have to pay for them to come to visit and/or to prepare a detailed bid, then show them the door.

Study each bid and make sure that each bid includes in writing the contractor's name, address and license number, a written start date, an estimated completion date, a detailed description of the work to be performed (with drawings), a detailed breakdown of all the costs, the total contract (bid) amount/price, which must include all of the following: (a) all licenses, plans and insurance; (b) all materials and supplies; (c) all labor; (d) all subcontract work (with details about any such work); (e) all taxes; (f) and "all other costs and expenses to complete the improvements".

Continue to ask for and obtain additional bids until you have received at least 3 detailed bids from licensed contractors that you like and whose bids cover the same work and whose prices are about the same. Avoid any bid which is "too high" or "too low". (Reason: you can get into as much trouble with a "too low" contract as you lose with a "too high" contract. That's why it is important to get many bids and to find at least 3 "good" bids.)

(5) GET FUNDS IN PLACE. At this stage, you are almost ready to select the contractor. You know who it will be and how much it will cost, so now you have to decide where you are going to get the money. If you have the funds already, no problem. But if you have to borrow the funds, then make an appointment at your own local bank and bring your RFP (see above) and the 3 best bids. Use your banker's expertise and experience, who probably knows and has previously financed jobs for all 3 contractors.

(6) SIGN THE CONTRACT. At this point, you are ready to sign the contract (i.e. accept the bid). Notify the contactor, verify the terms again, and have both you _and the contractor_ initial each page of the contract and sign it. You must yourself have an original signed contract. Keep it in a safe place "just in case".

(7) MONITOR CONSTRUCTION PROGRESS. At this point, your contractor will begin the work, by first "pulling the permit". You will have to spend lots of time monitoring the contractor's performance, to make sure that the job is done on time and per the contract. During the job, continue to record everything in the log.

(8) IF PROBLEMS ARISE. If anything does go wrong, then act immediately. The laws of every state protect the contractors more than the homeowners, so it is most important that you monitor the job and take action immediately if anything begins to go wrong.

Good luck.

Answer 2

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Answer 3

Ask around for free estimates. get as many as you can. Make sure they are well liked by you city inspector. or check with the BBB, Do your homework. Check the web for horror stories and keep them in mind when talking to the contractor. In short. You have to know everything and they have to Do everything. Ask for references that you can check on. and not family either. ask the city inspector how much of that persons work passed by him. As far as money, let him them know your uncle is a consultant for the Mayor and helps the city on how permits are handled. If you get enough homework done then you would know you need a price and that's it, Its none of there Biz what you do for a living or how much money you have.

Answer 4

That information is none of his business. With the exception of him financing a loan, none of your financial information is relevent or necessary to give him. He already knows what other companies charge for the work and is trying to bid lower to get the work. That price is ridiculous. You could have a new tub with tiled walls installed for that.

Answer 5

half the contractors out today dont charge for quotes, half do. get as many free quotes as you can. check what building certifiers they are with i.e in australia if you are a part of the master builders or master plumbers then you are a good licences business. you dont need to share any of your information with them. you are paying them, not them paying you. all you need is their banking details to transfer money they dont need to know anything about you. they shouldnt ask you about your financial information anyway due to the privacy act. you dont need to tell them who else you have got quotes from but for their own peace of mind it wouldnt hurt to tell them "i am shopping around for the best quote" they might give u a discount to keep ur work

Answer 6

Don't give him any information at all. Do not share any other estimates, other than to tell him his is low or high if you wish. Get at least 2 other estimates on the work. Ask for references of happy customers and give them a call. Be picky, it is your money.

Answer 7

dont tell them ANYTHING about ur financial situation...ive been plumbing for 14+ yrs and ive NEVER heard of any tubs and surround costing anywhere near that amount.....dont know where u r but it cant be that much difference in prices from where i am.....Ive plumbed whole houses on the side for less money than he wants just to redo ur tub....tell him ur not interested and move on buddy......get some free estimates then maybe talk to ur local chamber of commerce to find out whose respectable around ur community and go from there

Answer 8

if you already dont trust him - tell him nothing and find another contractor
how can you do business with someone you don't trust?