Acquiring a Home (Classic Reprint)

Excerpt from Acquiring a Home

Very small proportion of the prop etty holders in the United States are architects, builders, or lawyers. The ordinary layman who purchases a home, or who purchases land and builds his own home upon it, is surprisingly ignorant Of the legal relationships Of client, architect, and contractor. He knows in a general way that the architect will prepare the plans and give attention to the building oper ation. He knows that the contractor will carry out the work Of construction under some con tract which will provide for the amount to be paid to him and the work which he shall do. He knows that the architect will charge a cer tain fee for his services, and he may know that this fee will probably be based upon a per centage basis. He knows that he will receive a deed Of some kind for the property; and that the broker negotiating the sale or purchase will be entitled to receive a commission for his services. All Of these items Of knowledge are general and not specific. The prospective home owner XIX.

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