Hi Dreamers!
Its been a long time since i had a new post. But don't worry, anytime you need an answer - just email me or post your comments in the blog for me to answer them. I recently read Supreme Court rulings about the construction industry. Very informative reading that teaches us the value of doing construction the right way. One point that is highlighted in the rulings is the need to have a good contract in your construction project- whether it is a house or a building. It is best to have a well written contract to protect yourself from bad contractors or those contractors that actually do not have the right capabilities to do your home.
Some might ask, is a one page contract that is usually done for home construction enough? The answer is NO! I am sure the very reason it is so short is to have a lot of grey areas and of course, contractors who have been in the business for so long can argue and convince you to pay more than you should.
Do you have "Liquidated Damages" (LD) provisions in your contract? This can be a very powerful tool to show the contractor that you are serious in building the house and building the right way. The LD is basically a penalty to the contractor if they do not finish the contract in the specified time if the delay is not attributable to the owner.
Powerful stuff!
Get to know more important provisions of the construction contract when you sign-up for a coaching session.
Remember, build it right the first time!
Emil Mendoza
