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Estimates, generally, must be professionally reasonable. A 10-20% overage might be reasonable, especially if the contractor discovered issues along the way that he couldn't have been aware of initially (for example, mold or flooding).
Contractors will either offer a free estimate or charge $50 to $1,000, depending on the project. For example, if you need an inspection or design consultation service, expect to pay for those. If you pay for your estimate, many general contractors will put that fee toward your project if you hire them.
BUT If you are asking for a written detailed estimate for your project then yes they should charge a fee for that. If you need a written estimate before signing a contract, then we do charge a fee for that.
An estimate is usually not legally binding. However, some bids are mislabeled as estimates. A bid is considered an offer under contract law. If an offer is accepted, a contract is established and becomes legally binding.
Most electricians charge by the hour, and an experienced professional should be able to give you a reasonably accurate hours-needed estimate from the start. But there are other factors that can affect the cost of your electrical job, depending on the type of job you need accomplished.
An estimate is the service provider's best guess of what the job will cost, based on their skill and experience. The final price could be more or less than the estimate, but it should generally be within 10-15%. An estimate can be verbal or in writing there is no legal difference.
An estimate is usually not legally binding. However, some bids are mislabeled as estimates. A bid is considered an offer under contract law. If an offer is accepted, a contract is established and becomes legally binding.
Accuracy is the degree to which a measurement or calculation varies to its actual value. Thus estimate accuracy is an indication of the degree to which the final cost outcome of a project may vary from the single point value used as the estimated cost for the project.
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