New Builder Agreement Review
FEE QUOTE FOR REVIEWING A BUILDER AGREEMENT
In the review of a builder agreement, time is of the essence. The first question how long ago did you sign the builder agreement and do we have the required time to review the document thoroughly for you as builder agreements tend to be voluminous and are often fraught with hidden costs. Generally you have 10 days from the date of execution of the builder agreement for it to be reviewed by your lawyer but one must verify that it is so. If you miss the review deadline, you will be stuck with the agreement and risk your deposit and be sued in case the resale price is lower than the price you bought. We would further suggest that before you retain our services, that you do a google search to check the ratings of the builder and check whether the builder is a registered builder in good standing with the Home Construction Regulatory Authority and understands the limits of the deposits insured with Tarion: Ontario Builder Directory | Home Construction Regulatory Authority (hcraontario.ca). Please ensure that the builder is reputable and is duly registered before you retain our services or remit any deposit to the builder.
Legal Fees: Our office charges $495.00 plus HST to review the agreement of purchase and sale, submit a detailed written E-report to you highlighting the most important matters that ought to be of concern with recommended changes that we propose, issuing a letter to the builder encapsulating the proposed changes, reviewing the letter of the builder in response to our letter, and attending and reviewing to any amending agreement to reflect any changes as negotiated between ourselves and the builder’s lawyers office. For a verbal report but to include one follow up letter to the builder, our fee is $395.00 plus H.ST.
We accept interac payment for the full amount to be paid in advance at firstname.lastname@example.org. We are set for auto deposit and you will not be prompted for a password. Please email the builder agreement to email@example.com after making the E transfer.
However, before you retain our services, it is imperative that we know how much time we have on hands for this in depth review. We need at least 3 business days. If we do not have sufficient time we may not be able to review the builder agreement. In that case we strongly recommend that you contact the builder office immediately secure an extension of the review period.