Looking for Contract Agreements/Doc's...Recommendations?

Question

Hi gang,

I've scoured the site & forums for the following agreements and legal docs for working with contracts, but can't find them. My apologies if I've overlooked them.

1) INDEPENDENT CONTRACTOR  AGREEMENT

2) FINAL SCOPE OF WORK

3) PAYMENT SCHEDULE

4) INSURANCE INDEMNIFICATION  AGREEMENT

5) FINAL & UNCONDITIONAL LIEN  WAIVER

I've found multiple samples across the web, but wanted to see if anyone has copies of these they swear by.

I'm in Texas, so these docs have to conform to state statutes in regard to arbitration, etc. (I assume?)

Thank you! Cheers,Benjamin

Ned Carey · Answer

I presume you have looked in the FilePlace under the tools tab. If you expect to be in this business for a while, my recomendation is to learn some of the basics of contract law.  the easy part is finding a contract that meets legal requirements. The hard part is modifying it to meet what you want to acheive. Each deal is diferent. Knowing how to read and interpret a contract is a valuable skill.

PJ Singh · Answer

@Benjamin Portnoy

I am a newer investor and take my suggestion with grain of salt.  I recently did what you are doing. I downloaded some of the sample contracts, SOW from BP file place as well as google. I formatted based on my need and finally run -by with RE attorney.  IMHO, it is more cost effective and still cover legal aspects.

Chris K. · Answer

@Benjamin Portnoy

For such small projects, it's honestly difficult to find the appropriate forms. For example, you can take a look at the AIA forms or the ConsensusDocs forms but I think they are overkill for the kind of project you are looking into doing. For example, most smaller contractors wouldn't know what to do with the scope of work sections for those contracts nor would they know how to deal with AIA Billing System.

It's also not easy to find some random forms online for these kinds of projects. At this scale, there's probably a good chance that there are various consumer protection laws that are designed to protect you as the owner. Unless specifically written for Texas, these forms may not contradict or otherwise fail to work well with those consumer protection laws.

Here's what I would suggest in these situations: go find/network with various reputable GCs and ask them to provide a copy of their contract. After doing so, review and amend (or have your attorney review and amend) those contracts so that it's acceptable to you.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

Ronald Rohde · Answer

If you feel comfortable, then you can certainly use what you've found. The best advice I can provide is the forms are worth what you paid for them.

Good luck!

Benjamin Portnoy · Answer

Thanks, @PJ Singh. Agreed -- great, low-cost way to cover marginal legal bases without racking up hours of billings with an attorney.

Benjamin Portnoy · Answer

Thanks, @Chris K. I'll definitely take that into consideration.

Benjamin Portnoy · Answer

Thanks, @Chris K.

I'm in Houston, and I'm looking to focus in the $150K-$350K ARV range. Rehabs costs: $20-80K, I would guess. Looking to find a couple good GC's and work with them on multiple projects (both F&F + B&H). SFH to start, but getting into MF and small commercial (a different animal) within 12-18 months.

Chris K. · Answer

@Benjamin Portnoy

What's the size of the projects you are looking to do? I'm asking this because what's appropriate for one type of project is inappropriate for another kind of project. For example, AIA forms are great for decent sized projects. They are totally inappropriate for $20k rehabs.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

Benjamin Portnoy · Answer

@Chris K. -- Getting prepped for working with contractors. I'm the investor. Making sure I have all the right documentation.

I've been out of real estate for about 10 years, and probably didn't do this part right in the first place, so trying to cover my @$$.

Chris K. · Answer

@Benjamin Portnoy

What's the goal for these forms? Are you the owner or the contractor? What's the size of the project?

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney. What I wrote above does not create an attorney/client relationship between us. I wrote the above for informational purposes. Do not rely on it for legal advice. Always consult with your attorney before you rely on the above information.

Looking for Contract Agreements/Doc's...Recommendations?

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