New Construction Residential Purchase Agreement for the United States
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New Construction Residential Purchase Agreement
"I need a New Construction Residential Purchase Agreement for a luxury home development in Florida, with specific provisions for hurricane-resistant materials and custom high-end finishes, scheduled for completion in March 2025."
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1. Parties: Identifies the builder/seller and buyer with full legal names and addresses
2. Background: Outlines the context of the agreement and property details
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed description of the property and specifications of the home to be built
5. Purchase Price: States the total purchase price and payment schedule
6. Construction Specifications: Details of construction, materials, and finishing standards
7. Timeline and Completion: Construction schedule and completion requirements
8. Inspections and Acceptance: Rights and procedures for inspections and final acceptance
9. Warranties: Builder's warranties and guarantees
10. Closing Provisions: Requirements and procedures for closing
1. Financing Contingency: Include when buyer requires mortgage financing - Used when buyer's purchase is contingent on obtaining financing
2. HOA Provisions: Homeowners Association rules and requirements - Used when property is part of an HOA
3. Custom Features: Provisions for buyer-selected customizations - Used when buyer has option to customize features
4. Environmental Provisions: Special environmental requirements or considerations - Used when property has specific environmental concerns
1. Schedule A - Property Plans: Detailed architectural plans and drawings
2. Schedule B - Specifications: Detailed construction specifications and materials list
3. Schedule C - Payment Schedule: Detailed breakdown of payment milestones
4. Schedule D - Construction Timeline: Detailed construction schedule with milestones
5. Appendix 1 - Builder's Warranty: Full warranty terms and conditions
6. Appendix 2 - Selection Sheet: Buyer's selections for finishes and materials
7. Appendix 3 - Change Order Form: Standard form for requesting changes during construction
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