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How to SMS Home Remodeling Contract

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In this video, Joseph Patrick, co-founder of Lamont Brothers, shares essential tips for reviewing remodeling construction contracts. He emphasizes that this advice is not legal in nature, but aims to help clients avoid regrettable contracts and relationships with contractors. The first critical element in a construction contract is an exhaustive scope of work, which ensures clear communication about the project's details. This scope should encompass all desired aspects of the work, preventing misunderstandings or omissions. Patrick's insights are based on his decade of experience observing client interactions with contractors.

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Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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How do you write a contract for remodeling?

Heres how. Check Contract Basics. The basic job of a contractor agreement is to spell out the scope of the projects work. Set a Payment Schedule. Schedule Start and End Dates. Specify Change Orders. Research Your Arbitration Options. Turn Down the Contractors Warranty.

What should you not tell a general contractor?

Seven Things to Never Say to a Contractor Never Tell a Contractor They are the Only One Bidding on the Job. Dont Tell a Contractor Your Budget. Never Ask a Contractor for a Discount if You Pay Upfront. Dont Tell a Contractor That You Arent in A Hurry. Do Not Let a Contractor Choose the Materials.

How do you make a simple contract?

Heres a look at the basic steps youll need to take to create a simple and effective client contract: Include Contact Information of Both Parties. Specify Project Terms and Scope. Establish Payment Terms. Set the Schedule. Decide What Happens If a Contract Is Terminated. Determine Who Owns Final Copyrights.

How do you format a construction contract?

What Should Be in a Construction Contract? Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop-Work Clause and Stop-Payment Clause. Act of God Clause. Change Order Agreement. Warranty.

What are the two types of CCDC contracts?

The CCDC has created a number of standard form contracts for use in different project delivery models. The two most commonly used contracts for condominium owners are the CCDC 2 (Stipulated Price Contract) and the CCDC 5B (Construction Management Contract for Services and Construction).

Should I pay a contractor half up front?

As the homeowner who is commissioning the project, its reasonable to withhold at least 10% as your final payment. Avoid paying in full upfront, and definitely avoid paying anything before the contractor has evaluated the project in person.

What are the 4 types of construction contracts?

Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.

What are the 5 elements of a construction contract?

5 Key Elements Every Construction Contract Should Contain 1) The projects scope. 2) The cost and payment terms. 3) The projects time frame. 4) Protection against lien law. 5) Dispute resolution clauses.

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SMS Home Remodeling Contract