Why should I have Detailed Plans Produced and then get three Estimates?

You want to have Plans and Detailed Specifications Produced
so that when you set about to get a total Price for your Project, All the Contractors will
be generating costs on the exact same thing.(Apples to Apples)
This is the only sure way to get Accurate Bids.
The Plans should not only include structural and architectural Details, But should also incorporate
what we call a "Dry Run". A Dry Run is a trip to the Local Zoning, Environmental Site
and Building Permit Departments of your City or County to determine if there are any Restrictions or
Prohibitive Regulations that may affect your Project. An expierenced Architect or Design Professional
should know this and include it in their Documents.
Once Plans & Specifications are Done, You can put them out to Bid with Three (Or More) Contractors.
This has several advantages. First, it enables the Bidding Contractor to be very detailed in his Cost Estimating
and should Produce a very accurate Estimate. Second, it allows you, the Owner,
to assess the Quality of each Contractor's Estimate and how well it is Outlined & Executed.
Third and most Obvious, you should now have at least three accurate Cost Estimates.

But isn't getting three separate Estimates very Time Consuming and Costly?

Yes, it is Time consuming, but anything worthwhile usually is. However, any Expierenced Contractor should
be able to Produce a Detailed Estimate in 7 to 10 Days. As for Contractors charging a Fee for their Estimates,
some do and some don't. Strano & Co provides Free Itemized Estimates for Proposed Projects that have Plans
and Specifications already Prepared. We feel it is just a part of doing Business. For Homeowners that do
not want to incur the cost of having Plans prepared up front, we do charge a Fee because so much more Time is
required to produce an Estimate from scratch.

What do I do if the Estimates vary Greatly?

Review the Estimates carefully and check for Errors & Omissions compared to the Specifications.
This can be a Tedious Task, but is necessary. It may save you Thousands of Dollars.
The Estimates should not vary by more than 5 to 10 percent. Reasons why they may exceed this is
One: One or more of the Contractors may have omitted some Items unintentionally
Two: One or more of the Contractors may have added Items or upgraded Items
Three: Some Contractors have much higher Overhead & Profit Margins than others
What to do? Ask all the Contractors to Review their Estimates for Errors.
If the Estimates do not show an Overhead & Profit Line Item, Ask them what what their
Overhead & Profit Percentage is.
If This a daunting Challenge for You, Strano & Co offers a Consulting Service which Includes
this type of Problem. This is a very Common Problem and causes many Homeowners Grief.

Now that I have Three closely Priced Estimates, How do I choose?

This comes down to how you feel about each Contractor you talked with and how comfortable you feel with each one.
You Should ask for References from each, or if you were Referred to Them by Family or Friends, How was their Experience.
In the End, It's the one you feel most comfortable with and Trust.