Here is a step-by-step overview of our collaborative process, from the first cup of coffee together to move-in day.
This is an opportunity to get to know each other, discuss your upcoming project, and see if we will be a good fit. Topics of conversation are likely to include:
- What your priorities are regarding time, budget, and quality
- What the workflow typically looks like
- Details specific to your project
During this initial phase, our goal is to develop a clear overarching vision of the finished product and of the individual phases that comprise the whole.
Detailed Cost Estimate + Non-refundable Retainer
If we are both interested in working together, Sacred Oak Homes will develop a Detailed Cost Estimate and you will submit a non-refundable retainer. Together we’ll choose an estimation method to inform the Detailed Cost Estimate.
- A Detailed Cost Estimate is a customized document that describes the details of each phase of the project, including information on the materials, labor and costs of each. Making a detailed cost estimate involves reviewing plans, consulting with the architects, meeting with the subcontractors, obtaining quotes from suppliers, organizing it into a comprehensible package, and making revisions after your initial review. This process can take anywhere from 10 to 150 hours depending on the size and complexity of your project
- A non-refundable retainer is a nominal fee paid to Sacred Oak Homes which covers some of the time and expense involved in developing the Detailed Cost Estimate. In the event that we decide to work together, the retainer will be applied as a payment towards the signed contract. The retainer amount is commensurate with the total cost of the project.
Review Detailed Cost Estimate and make changes, if necessary
Select Contract Type
There are several types of contracts to choose from:
- Fixed price—This type of contract is best when all of the work to be done is known and you are reasonably sure that you will have few change orders. We give you a fixed price for the work quoted.
- Time & Materials—This type of contract is best in the following situations: 1) The work is of an emergency nature and needs to be done ASAP; 2) the nature of the work is not well-defined or may vary considerably as the job progresses; 3) the client knows there will be many change orders as the job progresses. In this type of contract we will give you our hourly rates for various types of work. Some of the subcontracted work may be done at a fixed price as long as the work is clearly defined and waiting for pricing is not a problem.
- Cost plus a fee—This type of contract is a combination of the first two. Sacred Oak Homes will offer you a fixed fee for managing your project. All direct job costs (labor, subcontractors, materials, etc) are billed to you at our cost with no additional markup. In this scenario, you can benefit by not paying markups on very expensive materials or subcontractors. If a job takes longer or costs more than originally estimated, there are no additional fees added to that work. The exception to this would be change orders for additional work.
Review contract, sign and pay the deposit
We recommend you review our contract with your own attorney before signing.
Create a joint escrow account for the final contract payment
The final payment for the contract after all work has been completed is placed in a joint escrow account
at the beginning. In order to remove money from this account, both parties have to sign for it. Interest accumulated in the account before completion of the work is returned to the owner.
Develop a detailed work schedule
Sacred Oak Homes creates a detailed schedule which includes a job schedule, flowcharts, and payment timelines.
- Throughout construction, we will hold progress review meetings with you and the architect(s) to go over the work and schedule and make adjustments as necessary.
- Punch lists are simple lists of items that need attention, correction and/or completion. These can be created by Sacred Oak Homes, the architect and you. Sacred Oak Homes makes sure these items are finished or carried onto the next list. As the project progresses, punch lists are created with increasing frequency.
Project reaches Substantial Completion
Your project is very close to completion. All building inspections and safety issues are resolved. The final punch lists are created and completed.
Final completion and final payment
When you, the architect and Sacred Oak Homes agree that the final punch list is complete, you and Sacred Oak Homes release the final payment from the escrow account to Sacred Oak Homes.
It’s finally here! You move into your beautiful and welcoming new space.
Sacred Oak Homes follows up with you at 3 months, 6 months and 12 months, and corrects warrantied work as needed.