With the volitility in the price of building materials at an all time high, does anyone have wording for an Escalation Clause they include with their remodeling contracts?
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Replies
I own a lumberyard here in missouri, currently if someone wants an estimate its good for that day and that day only... try not to promise a customer a firm price for over 24 hrs till this frenzy is over... just make it clear this is only an estimate and you cant help acts of god... I am just honest with them and tell them that i have no control over the market and will give them the best price i can.. the consumer will understand if they are a fair person, but if they dont understand then and want you to give your labor away to make up the material difference ...well then maybe its not the right job for you anyway... because the guy down the street will pay the same as you for materials...they wont get it anywhere any cheaper... but i feel for ya i have dealt with it for the last 5 days its NUTS..
I always tell them that they pay for materials...and I include that wording in the contract. I realize that we are in a unique situation but so does the customer. I do want to stress that I mostly do repairs and I am in different situation than you are.
john