This detailed sample New Home Contract (Incomplete Construction) complies with Texas law. Adapt the language to fit your facts and circumstances. Available in Word and Rich Text formats.
Edinburg Texas New Home Contract — Incomplete Construction is a legal agreement between a homebuyer and a builder in which the buyer agrees to purchase a new home that has not yet been fully constructed. This type of contract typically arises when the builder offers pre-construction sales or when the buyer wishes to customize certain aspects of the home before it is completed. In this contractual arrangement, there are different types of Edinburg Texas New Home Contracts — Incomplete Construction that may be encountered. Some of these include: 1. Pre-construction Sales Contract: This type of contract is entered into before the construction of the home begins. It outlines the agreed-upon specifications, features, and floor plans for the home. The contract may also state the estimated completion date and the buyer's responsibilities regarding financing the purchase. It is crucial for buyers to carefully review and understand the terms and conditions of this contract before signing. 2. Customization Addendum: This is an additional document or clause that can be added to the pre-construction sales contract. It allows the buyer to customize certain aspects of the home, such as selecting the color schemes, appliances, finishes, or additional upgrades. The addendum should clearly state the buyer's desired specifications and the associated costs. It is important to ensure that any changes made through the customization addendum comply with local building codes and regulations. 3. Construction Timeline: The contract may also include a construction timeline that outlines the anticipated start and completion dates of the construction process. This timeline serves as a guide for both the buyer and the builder, ensuring that the project progresses according to the agreed-upon schedule. Delays in construction may be addressed in the contract, specifying the responsibilities of each party in such circumstances. 4. Financing Contingency: In some cases, the buyer's ability to secure financing may be contingent upon the completion of certain construction milestones. The contract should clearly state the financing terms, including any applicable contingencies or conditions for the buyer to secure a mortgage or construction loan. 5. Inspections and Quality Assurance: The contract should specify the buyer's rights to conduct inspections at various stages of construction to ensure compliance with building codes, regulations, and the agreed-upon plans. The contract may also outline the builder's obligations to rectify any defects or deficiencies identified during these inspections. 6. Warranty and Post-Construction Support: The contract should address the builder's warranty period, guaranteeing the quality of materials and workmanship used in the construction. It should also specify any post-construction support services that the builder will provide, such as addressing any issues that may arise after the buyer moves into the completed home. In summary, an Edinburg Texas New Home Contract — Incomplete Construction is a legally binding agreement that outlines the terms, conditions, and obligations of both the buyer and the builder in the construction of a new home. It is important for buyers to thoroughly review and understand the contract before signing to ensure a smooth and secure home buying process.
