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As per Clause 14 (3) of the Real Estate Act, a builder is liable to repair or fix any damages brought to his notice by a homebuyer within five years from the date of possession, without demanding any charges from the homebuyer.
@Alex Varner generally speaking, when a contractor asks for that much up front, its because he/she does not have enough money or credit to purchase materials for the job.
The California statute of limitations for bdocHub of contract and bdocHub of implied warranty is two years for oral agreements and four years for written ones.
A: Its not uncommon for contractors to ask for a down payment up front to secure your spot on their schedule or purchase some of the job materials in advance. Asking for more than half of the project cost up front, though, is a big red flag.
8 Things Every Remodeling Contract Should Have Scope of Work, Selection Sheet and Drawings. License Number and Insurance. Description of Change Orders. Warranty information. Subcontractor Agreements. Payment schedule. Completion Schedule / Timeline. Clauses Required by Law.
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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.
These also vary by state. In California, the statute of repose is four years for most defects, but 10 years for latent defects (those that arent observable right away, such as a faulty foundation).
8 Things Every Remodeling Contract Should Have Scope of Work, Selection Sheet and Drawings. License Number and Insurance. Description of Change Orders. Warranty information. Subcontractor Agreements. Payment schedule. Completion Schedule / Timeline. Clauses Required by Law.
The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the 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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