What information is contained in a good faith estimate

Question

What information is contained in a good faith estimate

Answer 1

A "Good Faith" estimate is the same as a regular estimate.  The Good Faith part is that the estimator is saying that there may be more stuff that needs to be done but he can't tell until he gets into the job.  So he is offering his "best guess" of what the job will cost with the reservation that there may be more.

One example would be termite damage.  He will estimate what he can see, but he may find more damage when he gets the wall taken apart.

Usually there is a disclaimer on the estimate saying this.