How To Write A Contract With New House Builders In Melbourne

When you have hired a new house builder in Melbourne to bring your dream home to life, a contract will drawn up that you both sign to ensure that everyone’s needs are met. This contract will contain any information regarding descriptions of the property, financing and payment schedules, blueprints and even warranties.

Step 1: Begin by specifying the date that the contract will take effect, which is usually the date when construction will commence. You should also state the names of all parties involved, as well as any contact information for these people, including phone numbers and addresses.

Step 2: Detail information about the property. This should include a description, the street address, the subdivision and any other information that is relevant to the project.

Step 3: Detail information about the total monetary value of the contract, including the total purchase price and the terms of financing. It is also a good idea to include a timeline of sorts here that includes major milestones of the project (often when additional payments are made).

Step 4: Detail information about what to do if any changes are needed. If the homeowner or the builder wants to change anything during construction, they must follow this procedure as outlined in the contract. Payments required by the builder for changes should also be included.

At the end of the contract, you should also include any other details that are deemed important by either yourself or the new house builder. This could include dispute resolution methods should any animosity arise between the builder and the homeowner. Once everyone is happy, both parties can sign the contract.