building contracts

What Do You Need to Know About the Building Contracts?

To have a big and luxurious home is a dream for all! If you nearing your dream and planning to hire some professionals to build your dream house don’t forget to get building contracts made and signed by the professional. It is best to take assistance of some well experienced lawyer for drafting a careful contract. You need to be extremely cautious with the terms and conditions of the contract before you sign the dotted line.

Here are few things you must be careful while drafting the building contracts: 1. Builder License: Check the license of your builder as it is necessary for a builder to get a license before they can start with any building work. A copy of his license should be included attached with the contract copy.

2. Details of Construction: Make sure that the contract has exact drawings and specifications of the work that is to be carried out under the contract. The contract should cover every single element of the work to be done to avoid legal hassles in later stages.

3. States Cost: Confirm that the builder has included the entire cost for the project and has stated it in clear terms so that there is no misunderstanding during the payment stages. Don’t hesitate to ask who is going to bear the cost of tiles or carpets or many such things.

4. Duration: Discuss about the expected time to be taken to complete the task. There is usually a provision of penalty on the builder if he is unable to complete the work within three months of the expired deadline.

If, at any time, you make any changes to the contract by mutual consent, get them in writing and attach a duly signed copy of it with your original contract.