DIYbanter - View Single Post

(v) wrote in
:

On Sat, 1 Apr 2006 09:45:32 -0800, someone wrote:

....Be sure to have an
"out" where you can get your money back if the finished house is
not what you expected.

And how ya gonna define that in the contract? How does the Seller
know what is is the Buyer "expects" in their own mind? If under
construction, the Builder need (only) build the house according to
the plans & specs that the Buyer agreed to in the Contract. It is
the Buyer's problem if what they agreed to in writing is not what
they "expected" in their imagination.

Reply to NG only - this e.mail address goes to a kill file.

If you have your own plans/architect, then it is up to you to make
your specifications as complete and concise as possible. If he's a
custom builder, then ask to see the builder's specifications or a list
of his suppliers. Aboeve all else, loook at one or more of his
already constructed or hones in progresss. If you are relying on the
builder to provide plans that he can modify for your needs, still make
your desires known. If he knows what you want, it can be priced into
the total cost. Once you sign the contract for a price, then that is
all you will get for that price. If you changer your mind about
something, you probably will pay the extra price plus a contract
change fee.

You will also need to line up a construction loan. Once these loans
are granted, then you cannot get your money back. There may be ways
in which you may control the draw from the loan for construction, but
there is verbage in the loan that tells about these provisions, if
there are any. Also, most lenders will want the whole nine yards on
the builder, just like they want on you.

Do the math, do the homework, and be honest with the builder. The
buildewr wants you to be satisfied, but not unreasonably so. It is
his name on th eproduct and can determine jow much more business he
will do in the area.