Things to Consider When Signing a House Contract

Owning your very first house is exciting, but before signing an actual contract you need an approved loan or cash at hand. Once you have the cash ready, it’s time take a look at your contract. House contracts are usually made by the owners of the house. These are given to you so you can read the details carefully and then agree upon the terms and conditions.

Courtesy-RECO

You should consider looking at the following things:

  • The price

The actual price of the house may change when the seller decides to include hidden charges in the contract. Match the actual price being offered and the one stated carefully.

  • The size

The agreement states the exact size of the house however the builder reserves the right to alter it if a certain clause is added to the agreement. You can actually get out of this mess by adding another clause stating the minimum and maximum size that the builder can alter.

  • Possession date

The contracts usually have a tentative date of possession mentioned on it, however the builder can delay the process for as long as a year. You can avoid the situation by building pressure on the builder along with other buyers. Keep the construction process in check, if you feel that the work is slow, talk to them.

Amidst excitement and adrenaline new home buyers skip some of the important clauses of the contract. Either they are unaware of those conditions or they are simply careless. You can get trapped in a legal situation if you aren’t careful. With the help of construction contract lawyers you can avoid legal traps altogether. Before signing a house contract get it checked by your lawyer.

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