Building Crete Property - Contract

We enter into a contract with you from the outset of the construction of your house or houses. Initially, prior to the design stage being completed, we have an agreement based on the approximate size of house that you want to build. At this stage the agreement incudes a budgetary estimate of the finished price.

Once the design stage is finished and you have chosen your finishes, we enter into a full contract. The full contract is attached, and refers to, the specification that we have agreed. This is detailed and includes all the finishes that you have chosen, the scope of the works and landscaping - every detail. We also agree a completion date with you and the compensation that we will pay you should we fail to deliver your house on the agreed date, providing the fault is ours.

We also detail the payments that we expect from you, at which stage of construction they are due and approximate dates that these stages will be reached so that you can plan your finances. If you arrange a construction mortgage these payments will match the release of funds by your bank.

Our normal payment terms are:

• 10% deposit prior to design phase
• 40% prior to start of construction
• 25% on completion of shell with roof on
• 20% on completion of wall finishes - plaster, render, stone etc
• 5% - 1000 euros within seven days of completion
• 1000 euros on rectification of any defects found on final inspection

Any changes that we agree along the way will be documented and added to the main contract as an appendix.