Home Fee Cost Plus Contract With Construction Company In Cook
Category:
State:
Multi-State
County:
Cook
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Home Fee Cost Plus Contract with Construction Company in Cook is a formal agreement between a contractor and an owner for residential construction projects. Key features include a detailed scope of work, provisions for permits and site conditions, and the contractor's obligation to maintain relevant insurance. The contract allows for changes in the scope of work through written change orders, which may incur additional costs. Payment structures are flexible, offering options for cost plus or fixed fee arrangements depending on the agreement between the parties. This contract emphasizes the importance of written documentation and specifies the consequences of late payments. It's particularly useful for attorneys, partners, and legal assistants involved in real estate, construction law, or contract negotiation, providing a structured guide for ensuring mutual understanding and compliance between parties. Additionally, it serves as a resource for owners and paralegals in managing construction agreements effectively and protecting their interests throughout the project.
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FAQ
Percentage-Based Fees The percentage depends on the type of project but is typically between 6% and 15%, depending on the size and complexity.
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
