Home Fee Cost Plus Contract With Construction Company In Michigan
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The Home Fee Cost Plus Contract with Construction Company in Michigan is a legal document that establishes an agreement between a contractor and an owner for residential construction services. Key features of the contract include a detailed scope of work, which outlines the responsibilities of the contractor, and provisions for project location and required permits. The contract specifies that the contractor's fees can be calculated on a cost-plus basis, allowing owners to pay for the actual costs of materials along with a predetermined fee, or a fixed fee option can be selected. It's critical for owners to provide essential documents such as boundary surveys and title opinions before construction begins. Additionally, the contract includes terms for changes to the project's scope, late payment penalties, and warranty limitations on workmanship and materials. This form is particularly useful for attorneys, partners, and other professionals involved in real estate, as it provides a clear framework for negotiations, accountability, and legal protection. Paralegals and legal assistants can efficiently assist in the preparation and editing of the document, ensuring compliance with Michigan law while catering to the specific needs of their clients.
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Michigan construction contract requirements Only residential construction contracts are regulated in Michigan. Such contracts must be in writing, include the contractor's license number (if a license is required), and cite the statute that requires the contractor to be licensed for their particular trade.
Michigan construction contract requirements Only residential construction contracts are regulated in Michigan. Such contracts must be in writing, include the contractor's license number (if a license is required), and cite the statute that requires the contractor to be licensed for their particular trade.
