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We paid at least another $48K for the value of this basement .... if it has to be demo'd back the studs ... WHY would we paint it ... not about to happen.
That's a lot for a finished basement, especially one that you could see had cosmetic issues to begin with. I don't get that, but I don't live where you are.
Quote:
Originally Posted by Nancy_Avers
Arbitration only.
Well if small claims isn't even a choice, then it makes no sense to tackle any work to keep it under the small claims limit. Out here arbitration would cost $20k. I'm not sure I'd take the risk of spending $20k to get $12k. No guarantees the arbitrator will rule in your favor, although your case seems strong. Oh and with an arbitrator there is no jury. They are attorneys that act as judge and jury (at least out here). In Oregon, their verdict is final.
I think you need to get some more bids. Sounds to me like the contractor you called is trying to dip into your pocket.
That seems about right to me. Demo 900 sq feet, redo the electrial, rehang the sheet rock, texturize, and paint. If all done by contractors and there is a general contractor who coordinates the subs. General contractors add about 30% to the bill.
Electrical code in basements is different than the rest of the house. I know this because I had to legalize my basement including the electric work before we sold our house (even thought the basement was finished). This is why I tell people finished basement = a closer look, always look to see if it was done legally.
As far as inspectors and electrical - our buyer's inspector wanted GCFI outlets in the unfinished part, where the laundry was, and two different electricians AND the electrical inspector for the town told us not only is that NOT code, it's not advisable because the circuit will trip constantly while the dryer is running. So much for inspector knowledge on the issue.
I wish the appraisers would pipe in here - 48K for a finished 900 sq. ft. basement?
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