Hi
I hope someone can provide some guidance. We are having renovation work done and part of the way through the work our builder informed us that he had made an error in his estimating and his prices were increasing in excess of 120%. In fact one component of the work that had already been completed has increased 124%. The revised estimate for the new prices is on a 'like for like' basis and I do not see how I can be responsible for paying for work that I had assumed one price on only to have it increase by 124%. The other work has not been started and therefore we are cancelling. The estimated prices are in writing and although the letter is entitled estimate he clearly states his price for the work - on this basis we accepted the work. Any guidance re payment please - thx
I hope someone can provide some guidance. We are having renovation work done and part of the way through the work our builder informed us that he had made an error in his estimating and his prices were increasing in excess of 120%. In fact one component of the work that had already been completed has increased 124%. The revised estimate for the new prices is on a 'like for like' basis and I do not see how I can be responsible for paying for work that I had assumed one price on only to have it increase by 124%. The other work has not been started and therefore we are cancelling. The estimated prices are in writing and although the letter is entitled estimate he clearly states his price for the work - on this basis we accepted the work. Any guidance re payment please - thx