I was wondering if anyone had a blank contract that I could reference and use when working with a general contractor for my first flip. Some type of contract that would obviously protect me. I am just getting started and would love to have an attorney draft something up, but I am pressed for cash right now. Any help would be greatly appreciated. Thank you...
The contractor will most certainly have his own contract. You'll want to review and make changes to his, just like he'll review and want to make changes to yours.
I'm a contractor and have my own. Nothing too fancy, it just spells out whether I get a deposit or not to start and when I'm done, you pay me or I'll slap a lien on the property. I'm pretty basic being an hvac guy, I install equipment and ducting and you pay me when I'm done. Go look at Office Depot or one of those places, they have a bunch of legal forms. A lawyer isn't that expensive to draw up something, a couple of hundred dollars. If you don't have that, you might want to think a little more before you go to flip a house, what happens if something unexpected comes up than requires cash? Nothing ever happens as planned in construction.
I use the one JScott put out on the fileshare. I just change the names/dates/amounts. The key is to add details of the work. If you favor certain materials to be used add that as well such as SKUs or brand names etc. On my last rehab he didn't put in right kind of locks. I just told him to refer back to the contract. There was no fighting after that.
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