Legal and Insurance Considerations: Protecting Your Investment

Legal and Insurance Considerations: Protecting Your Investment

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Building a custom home involves legal and financial considerations that you must address before work begins. These include ensuring that the builder has appropriate Orlando Custom Home Builder, reviewing the builder's contracts, and understanding your rights as a homeowner. Protecting yourself legally will help prevent future disputes and ensure that the project proceeds smoothly.

Verifying Insurance and Licensing

Ensure that your custom home builder carries general liability insurance, which protects you in the event of property damage or injuries on the job site. Without proper insurance, you could be held liable for accidents or damages that occur during construction. In addition to general liability insurance, the builder should also carry Custom Home Builder which covers the cost of medical expenses if a worker is injured while on the job.

It’s also essential to verify that the builder has the necessary licenses required by local authorities. These licenses ensure that the builder is qualified to perform the work legally and according to building codes and regulations.

Reviewing the Contract

Before work begins, you’ll need to review and sign a contract that outlines all terms and conditions of the project. The contract should clearly specify the cost, timeline, scope of work, payment schedule, and any penalties for delays or poor performance. It should also outline the builder’s responsibilities and your rights as a homeowner. A well-drafted contract protects both parties and ensures that expectations are aligned.

If you’re unsure about any legal terminology in the contract, consider consulting with a lawyer to review the document and provide guidance.

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