Building Contract Geelong 101: All The Things You Must Consider Before Signing It

When engaging in any kind of property transaction, we all know that it consists of various documentation. All of them are complex and have various legal factors that are tough to understand and comprehend. So there’s one contract paper in property transaction which is a building contract. Many people come across this contract paper and fail to understand what it is and how it can save you from disputes and many other things. 

So if you also want to know what is a building contract and how it works then this is perfect for you because in this, we are going to discuss what are all the things that you must know before preparing a building contract or what you must consider before signing it. Make sure to read till the end and note down all the pointers as this will help you to make an informed choice. 

What Is A Building Contract Geelong? 

A building contract is a document that underlines all the terms & conditions of a construction project agreed upon between both the homeowner and the builder. It’s a legal document, and it must be prepared before engaging in any kind of construction project, be it as a homeowner or a builder. Not preparing a properly checked building contract can lead to some serious consequences and to avoid that you must get it prepared from a professional conveyancer in Geelong. 

Things To Consider Before Signing A Building Contract 

Now that you know what is building contract is, here are some of the important things that you must consider before signing a building contract. Make sure to remember all the pointers as this is going to help you in making an informed choice. 

General Information 

Firstly, everything must be mentioned in the document such as the parties involved, both the builder and the contractor. It must also contain information about the scope of work including details of the construction project, materials that will be used, etc. Lastly, it must mention the payment terms of the project, and when the parties will clear out the payment. These are some of the general information that a properly drafted building contract Geelong must have. 

Contractual Obligation 

After you have ensured that the building contract has all the necessary general information, it’s time to ensure that it has all the contractual obligations in it. A building contract must contain is it should mention all the contractual obligations of both parties involved. Contractual obligations might involve ensuring the property is ready for construction, obtaining all the necessary permits, preparing the site for construction, etc. Each building contract must mention all the obligations such as start and completion date, changes and amendments, and all the termination clauses.

Legalities

Next comes the legalities, ensuring all the legal considerations such as warranties by the contractor and what are all the things that he is providing. It must also mention the dispute or breach of contract resolution, which means in case of a dispute or breach of contract resolution, how things will proceed further and how will the project continue. 

Hire Experts To Prepare Building Contract Geelong

Now that you know what are all the things that you must consider before signing a building contract, if you also want to save your time, effort and money then you must get help from a professional property conveyance. That’s why Cahill Conveyancing is here to provide you with the best services for building contract Geelong with their team of legal experts in the property market.