CENTRAL GROUP guarantees its clients the high quality of their finished single-family homes and their delivery within the contractual dates. The same as with the objective wording of the contracts, the price is always guaranteed to be firm and final. In case the completion date is delayed, the company is obliged to pay the client a contractual penalty for each day of delay. The customer, moreover, has the right to withdraw from the contract after a delay of 30 days and the company is obliged to immediately return all funds paid by the client, in addition to the contractual penalty.
On the other hand, the company needs to have an unequivocal guarantee that the client will pay the agreed price within the agreed dates. Only this way can claims be eliminated and the financial stability of the company ensured. CENTRAL GROUP uses form contracts and general terms and conditions that have been tried and tested in thousands of cases. The employees of the sales division and those who oversee the technical preparation and actual implementation are thoroughly trained for standard terms and conditions. It is therefore not possible to make significant changes to the contracts, because that would disrupt the smooth procedure and entire system.
These form contracts make it possible for CENTRAL GROUP to offer the broadest financing options in the housing market. No company in the market offers the option of taking up to one year after the home is completed and handed over to pay 90% of the price of it. It is therefore necessary to have fixed contractual terms, providing assurances to both the client and the company.
Contracts concluded during the course of construction
(Contract for work)
For homes under construction, a contract for work is concluded with annexes that include the general terms and conditions, a description of the home, and views and floor plans of the site. This contract specifies the land in question, the actual construction, the scope of obligations of both parties, and the matter of transferring ownership to the client.
Also important are the provisions for the deadline to complete the apartment and the fixed price. The contract clearly states that if all building permits have still not been issued at the time of signing the contract and will not come into force within a certain date, then the contract can be terminated then. The contract further expressly provides that the price is firm and final. The only reason for changing the price is by the client ordering additional items and individual customization. Another possible change can occur as the result of legislative amendments, wholly or in part, that change the VAT rate compared to the rate anticipated in the contract. The issue of handing over the home to the client, the transfer of ownership to it, and the guarantee for quality are further addressed in detail in the contract. The contract also provides contractual penalties for both parties for every day of delay. For the company, this involves a delay in finishing the home within the deadline, and for the client, being late with paying the price.
Contracts concluded at the completion of construction
The previous contract is used for concluding the actual purchase contract after the client pays the entire price, or if a loan agreement is signed between the client and mortgage bank and drawing the loan is secured. This contract is submitted to the Land Registry after the full price is paid.
If the client purchases an already completed home, a purchase contract is concluded. In the event of purchasing a completed home, the client can use notarial custody by paying the price of the home and land into the account of a notary. The money is released upon the transfer of ownership to the client in the Land Registry.