Watch for phrases like Architectural Control Committee. An unpleasant way to meet new neighbors is at a meeting where they re telling you what type of fence you will be installing at your new house. In large new developments, a developer with several house models to choose from may allow only a certain number of a particular model to be built on a block. Visualize the area surrounding the lot once the area is fully developed. The Purchase Agreement Building a custom home usually involves making separate contracts with an architect and a builder.
Most buyers typically select a model from a builder.
The buyer then chooses any modifications, much like choosing the options on a car. The builder and home buyer then enter into a contract. These contracts can take several forms, depending largely on the method of financing. Usually, the buyer purchases the lot and makes payments. Unless fraud is involved which is very difficult to prove the parol evidence rule bars any promises and representations that the builder made before the contract was signed.