In the case of a new property to be built, the land contract is usually separate and settled first. The construction contract will usually include specifications and progress payments to be made during construction. Contracts are prepared by the builder or developer after a small, refundable holding deposit is paid – this might be $1,000. […]
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The Contract
In the case of a new property to be built, the land contract is usually separate and settled first. The construction contract will usually include specifications and progress payments to be made during construction. Contracts are prepared by the builder or developer after a small, refundable holding deposit is paid – this might be $1,000. […]