Master Builder and Home Renovation Contracts
Master Builder and Home Industry Australia contracts are used for domestic home builds and renovations. They are a straight forward contract in a bundle with old school carbon paper where you tear out the builder's copy and keep your own copy. Every state has them, and they are designed (not surprisingly) to protect the builders in the industry.
Get advice before you sign
Usually, after you have spent weeks negotiating a price and all the extras you want on your new home or reno, the builder will then turn up at your house, have a coffee and present you with a Master Builder contract and ask you to sign and pay a deposit. You won't be given much chance to read it.
However, it pays to ask for a copy of the contract in advance and review it to understand your rights and obligations.
An alternative and more balanced option is the NSW Government's Office of Fair Trade Home Building Contract.
Understand your rights
Either way, we can assist you to understand your rights and obligations and ensure that clauses are balanced for both parties. And make sure you understand when work is to start, when to expect completion, what progress payments are to be made and when a variation or extension of time can be requested, and importantly, when and how long any warranties over workmanship apply.
Example: A couple employed a construction company to build their house by Christmas, however for any delays they would receive liquidated damages at $750 a week to cover their rent from not being able to move in.
Contact Ricketts & Associates to find out how we can help you