Details take time to read and to comprehend what is being said.
In the contract the following items are addressed in great detail:
The contract is to keep both parties in check and on track with what is written in the contract.
If the contract is not written in 10 point type it is not a legal document as to the State of Minnesota Law. After signing the contract you have 3 Business days with a written letter delivered to the office before 4:30 PM before the evening of the 3rd day you have a legal right to back out of the contract.
A good contractor has a good contract. This document should be fair to both parties. The following items should be in the contract.
1. New address location.
2. Drawing document style and plan number.
3. Cost of construction.
4. Payment arrangements .
5. The total scope of contract and supporting documents.
6. Description of who is responsible if the lot is not suitable to build on
7. If the buyer owns the lot the buyer shall deliver to the contractor a warranty deed of the lot.
8. The buyer shall provide the builder with lending institution with legal title to lot.
9. The contractor shall inspect the lot and give recommendations.
10. If and architect is involved, who has the last say and who shall be responsible for the bill, as well as designs.
11. If and representative is involved if you are over seas for business-etc.), who has the last say and who shall be responsible for the bill, as well as designs.
12. How change orders shall be addressed.
13. Who and how sub contractors shall be chosen.
14. The right of termination.
15. A detailed list of all areas of construction.
Lot, excavation, Concrete, Brick, Water proofing, Utility hookups, Sewer, Water, Lumber, Skylights, Entry doors, Windows, Interior Doors, Millwork, roofing, siding, Drywall/plaster, Plumbing, Heating, Electrical, Security, Insulation, Iron work, Cabinets, Counter tops, Fireplaces, Decorator, Painting, Floor coverings, Custom glass, (Door, Bath, and Cabinet Hardware) Lighting, Appliances, Entertainment, Yard decorations Landscaping, Garage doors, driveway. And more.