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Employing a builder has enough well documented risks, and when you are employing for a major construction project or development the stakes are increased considerably.
Construction companies are running a business of course; they are looking to make a profit. By simply paying a builder you are the source of the profit and your interests are fundamentally misaligned. You want a quick turnaround, delivered professionally without cutting corners. An unscrupulous contractor will want to get out as quickly as possible with maximum profit. You run the risk of:
• The builder doing a substandard job, the work being pulled by building control and work
having to be re-done at your expense.
• The builder partially doing the job, taking all the profit from the job and
manufacturing a reason to fall out and walking away without leaving enough money in the project
to hire someone else.
• The builder may under quote the project to win the job and then come up with a number of
'extras' that suddenly need to be paid for throwing your budgeting out and resulting in cutbacks
on the finishing touches that make a project.
• An honest builder may over quote for fear of underquoting leaving you paying too much
for the work but coming from the best of intentions.