Difference between an Estimate Form and a Bid Form and how to use them


Estimate Form:

A Construction Estimate is a non-binding and preliminary assessment. This is for feasibility and value engineering discussions. When you issue a construction estimate and it is approved, it does not affect or interact with the project budget. A Construction Estimate is submitted from the project preview that is accessible when a homeowner invites a builder to submit a proposal.

Bid Form:

A Construction Bid is a fixed price quote for the construction phase of the project. Once accepted, this can only be changed by an approved Change Order. A contractor formally joins a project with the homeowner's approval of a Construction Bid. This form provides budget estimates for the construction phases of the project. This form is typically approved only one time per project.

How to Use Them

A Construction Estimate and Construction Bid are submitted from the project preview (Proposals & Bids and Goals & Ideas pages) that is accessible when a homeowner invites a builder to submit a proposal. Click the Create New construction Estimate or Bid button.

Create new estimate bid

  1. Select the team member who needs to approve the form using the drop down menu. The approver should be the homeowner.

    Select team member

  2. Fill out the rows with costs and any supporting notes for each row.

  3. Additional notes and longer text can be added at the bottom of the page. Click the "Issue Now" button to submit the estimate for approval.

    Additional notes issue now

  4. The homeowner will probably have some questions for you before approving the form. You can edit the form if there are any changes (e.g., clarifications, corrections) to be made.

  5. The homeowner will then review and approve the form.

 

 

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