Builder buyer agreement is the most important document when you buy a property. Unfortunately it is not given the due attention it deserves. Most of the time Builder get away with a completely one sided contact which favours the builder. This agreement contains all terms and conditions of the sale and covers remedies of defaults by either party. A balanced Builder Buyer Agreement should ensure interests of both parties are protected.

The challenge is that the Builder has experience of many years in drafting these agreements and he is also supported by legal teams within his organization, where as the buyer almost always lacks these. Even if the buyer wants to, he either due to lack of time or lack of guidance does not review the agreement in detail before signing. The result is a skewed agreement in favour of Builder. There have been many cases where the developer continues to accept payment without a formal agreement being in place. In case of a default by the developer the buyer does not have any legal document which can help him to recover his monies and protect his interest.

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