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The contractor on this multi-million dollar residence in
Carmel estimated the cost at $10 million, completed part of the site work and
foundation over a two year period, billed $3 million, informed the owners that
the cost would actually be $17 million, was fired, and sued to recover an
additional $1.6 million in claimed damages.
We recreated the project schedule and showed where the delays lay. We inspected the site, prepared detailed material
quantity take-offs, and solicited material & equipment bids for completed
work. We prepared detailed labor cost
estimates for completed work. And we
prepared a market analysis based on neighboring homes to provide an alternate
value of the completed work. The
arbitrator awarded the contractor only $200 thousand.
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