This detailed sample New Home Contract (Completed Construction) complies with Texas law. Adapt the language to fit your facts and circumstances. Available in Word and Rich Text formats.
Plano Texas New Home Contract — Completed Construction is a legally binding agreement between a homebuyer and a home builder for the purchase of a new residential property in Plano, Texas. This type of contract is entered into after the construction of the home has been completed, and it serves as documentation of the terms and conditions of the sale. The Plano Texas New Home Contract — Completed Construction typically includes various key elements that need to be clearly defined to ensure a smooth and fair transaction. These elements may include: 1. Property Details: The contract will outline specific details about the property, including its address, legal description, lot number, and any relevant land or development restrictions. 2. Purchase Price: The contract will specify the agreed-upon purchase price for the completed home. This will include the base price of the property along with any additional costs, such as upgrades, taxes, or homeowner association fees. 3. Payment Schedule: The contract should outline a payment schedule, detailing the amount and timing of each payment, including any down payment and installment amounts. 4. Closing Date: The contract will define the closing date, which is the day the title to the property is transferred to the buyer. This date is typically set after the completion of all necessary inspections and final approvals. 5. Warranties and Guarantees: The contract may include warranties provided by the home builder, such as guarantees on the quality of construction, materials, and workmanship. These warranties protect the buyer against defects that may arise after the completion of the home. 6. Contingencies and Amendments: The contract may outline any contingencies, such as the buyer obtaining financing or satisfactory inspection results. It should also provide procedures for amending the contract, should any changes need to be made before the closing. 7. Dispute Resolution: The contract will typically include provisions for dispute resolution, such as mediation or arbitration, in case any disagreements arise between the parties involved. Some different types of Plano Texas New Home Contracts — Completed Construction may include contracts for single-family homes, townhouses, condominiums, or custom-built homes. Each type will have its own specific terms and conditions tailored to the particular property. In conclusion, the Plano Texas New Home Contract — Completed Construction is a crucial document that outlines the terms and conditions of purchasing a newly constructed home. By clearly defining the rights and obligations of both the buyer and the home builder, this contract protects all parties involved and ensures a smooth and satisfactory transaction.
