Page 24 - New Homes Legacy Playbook

Playbook
Conclusion:
State-Promulgated Contracts:
• State forms are designed to be relatively straightforward and cover the essential elements of a real estate transaction. They aim for clarity and brevity to accommodate a wide range of users.
Builder purchase contracts and state-promulgated contracts serve different purposes within the real estate industry. Builders often prefer their contracts for the flexibility and customization they offer, tailoring agreements to their unique projects. State-promulgated contracts, on the other hand, serve as standardized templates that provide a starting point for various real estate transactions and aim for consistency and fairness across the industry. As a best practice, we encourage you to obtain a copy of your builder’s contract as soon as reasonably possible and then take the necessary time to get familiar with the subtle nuances and differences. Keep in mind, your builder partner expects you to protect their interests...and your customers expect the same.