For a Homeowner entering into a Building Contract with a Builder, it is a long-term, expensive commitment. It should then make sense to have a professional spend some time reviewing that Building Contract and provide advice before you sign. This way, you are able to familiarise yourself with the Building Contract and the general building procedure.
For most homeowners, your home is your lifelong investment. If you are building a brand-new home or renovating your existing home, the process can be quite exciting and stressful. When entering into a Building Contract with a Builder, you should consider some of the following:-
- Ensuring the Builder is appropriately licensed;
- Are there any special conditions? Are they reasonable?;
- What clauses should be negotiated or re-reviewed?;
- Is it a HIA, MBA or NSW Fair Trading Building Contract or has the Builder created their own Building Contract?;
- Advice on Home Building Compensation Fund; and
- Are liquidated damages applicable?
Here at Adams & Partners Lawyers, we can provide consultation to help answer any questions and explain the Building Contract as well as provide written advice so you can keep referring to it. Please contact Atul Singh or Daniela Ceccattini to review your Building Contract and provide advice.
Written by Daniela Ceccattini