A New home construction agreement is done between a contractor and owner of the property in order to make a new home. This kind of agreement includes all the details regarding contract price, specifications of the home and other payment details. This agreement is being done with the mutual consent of both the parties
Sample new home construction agreement
Name of the owner: Steve lewis
Address of the owner: B12 Russesl street
Name of the contractor: Daniel Richard
Address of the contractor: Daniel Builders
Date of the agreement made: 5th July 2010
Terms and conditions of the agreement are as follows:
1) The commencement date is 4th November 2010, this date is on which the contractor will start constructing the new home.
2) The total contract price is $260,000.00 decided by both the parties.
3) The 60 % of the total amount should be paid to the contractor on the commencing date itself, and rest 40 percent after the completion of the work.
4) The owner is liable to deduct money if the house constructed is not of the area specified during agreement.
5) No other charges will be paid until the completion of the work
(Signature of the Owner) (Signature of the contractor)