Core terms

Bid

Core terms · definition

A contractor's formal price proposal for a defined scope of work. Always compare multiple bids on the same written scope so you are comparing like for like, not just bottom-line numbers.

Source: InterNACHI — Inspection Glossary: Bid

Where this comes up

  • Contract

    The legally binding agreement between owner and contractor that defines scope, price, schedule, and responsibilities. A remodel should ne…

  • Scope of Work

    The detailed written description of exactly what the contractor will and will not do on the project. The single most important document f…

  • Bond

    A surety bond is a guarantee from a third party that the contractor will complete the work (performance bond) or pay subs and suppliers (…

  • Beam Pocket

    The recess in a wall or foundation that receives and bears the end of a beam. Cutting in new beam pockets is part of the cost when openin…

  • Building Code

    The set of minimum legal standards for safe construction adopted by your jurisdiction (in Ohio, based on the International Residential Co…

  • Beam

    A primary horizontal member that carries loads from joists or framing across a span to posts or walls. Opening up a floor plan usually me…

  • Carpenter

    A skilled tradesperson who constructs, installs, and repairs structures and fixtures from wood and other materials — framing, trim, cabin…

  • As-Built Drawings

    Updated drawings that reflect the project exactly as constructed, including all field changes — invaluable for future remodels and locati…

Where this term fits in a remodel

The pillar guides set terms like this one in context — what the work involves, what drives its cost, and where it sits in the sequence of a project. Pricing a specific house takes a defined scope and an on-site assessment.

Remodeling guides → Contact the publisher →