Coldwell Banker Realty - Sudbury
Vera Oliveira, Coldwell Banker Realty - SudburyPhone: (617) 620-5658
Email: [email protected]

Ins and Outs of Home Building Contracts

by Vera Oliveira 11/28/2022

When you decide to have a new home built, you’ll need to find a builder and sign a contract with them. Since home construction is a complex process, it’s important to make sure you understand your home building contract before signing it. What should you expect to see on one of these contracts? You should make sure your contract includes the following information. If not, you should have the builder revise the contract to include this information before you sign it.

Estimated Timeframe

Your contract should include information on the estimated timeframe for your home building project. It should show when construction is scheduled to start and when it is scheduled to end. You should also see details on when different phases of the project are scheduled to take place. Keep in mind that delays can happen for several reasons, such as adverse weather, labor shortages, material shortages or inspection delays. However, if these conditions do not occur, your builder should make every effort to complete your project within the scheduled timeframe.

Scope of the Project

Your home building contract should provide you with detailed information on the services that are included. This goes beyond the actual building process. Your builder should also state that they are performing any other tasks that are needed for your project, such as obtaining permits and providing materials, equipment and labor. Your contract should also show that the builder agrees to follow the house plans and specifications and will not make any changes or modifications to these without consulting you. This helps ensure that you’ll get the exact house you’re expecting.

Payment Details

Your contract should include details on payment, including when each payment is due, how much is due and how payments should be made, such as by check. You should also make sure your contract from the builder includes detailed information on all the fees and costs for your project. This helps you understand what you’re paying for, so you can ask questions or point out errors if needed. Your final payment might be due when your project is considered substantially completed. Since this interpretation can differ, your contract should provide a clear definition of substantial completion.

Project Scope Changes

If you change your mind about certain features or other components of your new home, such as wanting to adjust a room’s layout, add a window or have a custom feature installed, the contract should address this. Your contract should provide information on how these changes will be handled. For example, your contract might state that you will need to provide written documentation with approval from both you and your builder to change facets of your project. Keep in mind that your builder might want to make changes during the project. Having this section in your contract stops your builder from doing these without your approval.

Inspections

You should be able to check on the progress of your home construction project. Your contract should state that you may do this, as long as you plan to stop by at reasonable times, depending on the specific work that is going on. These inspections give you a chance to make sure your project is going as planned and bring up any issues you might have with the builder.

About the Author
Author

Vera Oliveira

I am focused, self motivated, dream big and am committed to act in the best interest of my clients!

  

As an incredibly driven and self-motivated Realtor®, my utmost passion lies in serving your best interests and guiding you through one of life's most significant decisions. With a deep understanding of the importance of a comfortable and nurturing home environment, I strive to help families create lasting memories in their ideal living spaces. My clients are my top priority, and I am committed to providing a seamless, stress-free experience from start to closing.
Originally from Rio de Janeiro, Brazil, I have called Massachusetts home since 1988, immersing myself in the region's rich natural beauty and historical heritage. Over the years, I have cultivated strong relationships within the community and acquired an intimate knowledge of the local residential markets. This unique combination enables me to offer invaluable insights and act as a dependable resource, skillfully matching clients with properties that perfectly suit their needs.
With over 22 years of experience in real estate and a background of 30 years in sales, I bring a wealth of expertise to the table. I approach each transaction with meticulous attention to detail, taking the time to listen and truly understand my clients' goals. By employing a contemporary marketing approach, leveraging strong negotiation skills, and maintaining constant communication, I provide a high-end service that ensures buyers find their dream homes within their budgets and sellers effectively market their properties for optimal returns. Witnessing the overwhelming joy of clients at a successful closing is immensely rewarding to me.
My dedication to personalized service and strict adherence to confidentiality are the cornerstones of my professional competency. Whether you are a first-time homebuyer or a seasoned seller, my warm and caring approach makes me the perfect agent to guide you through the process. As a testament to my track record of results, I have proudly achieved recognition as an award-winning Realtor, ranking among the top producers year after year.
Beyond real estate, I have a profound love for travel, enjoy golfing and participating in fitness classes. I am actively involved in volunteering with organizations such as "We all Volunteer", JFS, and I passionately support the life-saving work of St. Jude's Children's Research Hospital. Additionally, I nurture a deep interest in studying architectural characteristics during my travels.
It brings me tremendous joy to know that I am positively impacting people's lives through the life-changing decision of homeownership. Whether you are seeking to buy or sell your home, I am genuinely thrilled and honored to guide you along the journey and contribute to your success story.