with the premise of this response.
For the OP's peace of mind (and there are lots of folks out
there who have a great mistrust of anything and everything,
so they must live with that . . . thankfully, most of us do
not), he should run the agreement by his attorney.
He might also string have his attorney point out any areas
of likely misinterpretation or needless liability on his
part . . . listing them or margin=noting them. Then, he
should discuss this with his builder. If that gets into a
contest, he likely will be looking for another builder. If
his attorney insists on rewriting the agreement, he is
assured of looking for another builder . . . likely for a
long, long time . . . or else find a very hungry builder,
which would be a catastrophe for both parties.
An attorney or an accountant looking over a contract for a
party is being paid. He wants to do something for his pay.
Keep that in mind. Also, a contract can not protect either
party for every contingency. Keep that in mind. In a small
project, a "small" agreement is likely best. Every lawyer
will agree, a handshake is the very best contract.
Unfortunately, they are not speaking literally.
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