"Disclosure Statement Required for a Residential Construction Contract" is required and to be used for any residential construction contract required by the Texas Property Code 53.255(b).
Houston Texas Disclosure Statement Required for a Residential Construction Contract
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How to fill out Texas Disclosure Statement Required For A Residential Construction Contract?
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FAQ
Yes, contractors and suppliers can file a mechanics lien on a homestead in Texas. However, they must meet additional requirements in order to retain their right to claim a lien. In order for anyone on the project to retain lien rights, the general contractor must provide the homeowner with a written contract.
Texas law obligates construction owners to withhold 10% of the value of the work during the course of a project and for 30 days after final completion. This is generally known as statutory retainage.
Is an Affidavit of Completion required in Texas? Short answer: No. An Affidavit of Completion can be filed by the owner or general contractor. It helps to establish the completion date for the project, as well as the filing deadline for liens on unpaid contractual retainage.
All claimants who do not have a direct contractual relationship with the prime contractor furnishing the bond must send a preliminary notice. Laborers making a claim for wages only are excepted from this requirement.
A Notice of Commencement is a document that establishes the formal start date of a construction project and identifies the project stakeholders, such as the property owner, lender, and general contractor.
In Washington, all contractors who perform work or who advertise or submit bids in this state must be registered with the Department of Labor & Industries (L&I), post a bond and carry general liability insurance coverage. A general contractor must maintain a $12,000 bond.
Affidavit of Commencement Requirement Affidavits of Commencement are voluntary in Texas. The law in Texas allows this notice to be filed by an owner and original contractor jointly.
Is a Seller's Disclosure Required in Texas? Yes. Section 5.008 of the Texas Property Code requires anyone selling a single family home to fill out a seller's disclosure. It even has a script you can use to write your disclosure?so you know you've met all the requirements.
THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE PROPERTY AS OF THE DATE SIGNED BY SELLER AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH TO OBTAIN. IT IS NOT A WARRANTY OF ANY KIND BY SELLER OR SELLER'S AGENTS.
Disclosure statement contents information about any guarantees or warranties the contractor offers in relation to the building work ? they must specify the time period the guarantee or warranty is offered for and any limits or exclusions on coverage.
