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Real Estate
Reply to "Reasonable fees for architects vs design/build?"
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[quote=Anonymous][quote=Anonymous]If your architects are proposing to charge you 12-15% of the estimated construction cost of the project, then they absolutely should be involved throughout the project. Typically, owner and contractor sign the standard AIA contract. At predefined stages in the project, the contractor submits request for payment to the architect, who then either approves it and passes it to the owner for payment, or issues a notice to the contractor to correct defects. Most contracts will also include a retainage percentage which is a percentage (~5%) of payment that is held pack until the final punch list is complete. This gives the contractor a substantial incentive not to let the project linger after substantial completion but before final punch list items are resolved. I've always been leery of design/build firms as it seems to introduce a fox/hen house issue. [/quote] What do you do for a living ?[/quote]
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