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That's more of a startup oriented attitude. To continue the house analogy, if you wanted to avoid the premium associated with the higher contract, could enter i
by itgoon 16y ago
That's more of a startup oriented attitude. To continue the house analogy, if you wanted to avoid the premium associated with the higher contract, could enter into a similar agreement with the builder.
He builds the house on the cheap, in exchange for a percentage of the final selling price. If the contract was sound, why wouldn't that be an equitable deal?
There's probably a law against it, though (houses are funny that way).
In the case of the original post, I would be willing to work there - as a very expensive contractor, with the degree of my loyalty explicit in the terms. He'd probably object to the part about him paying my attorney to review it, though.
- billswift 16y agoIt's not, or didn't use to be, all that unusual in houses. It's referred to as building "on spec", meaning "speculative"; where the architect, builder, or whoever builds the house on the chance that they can make a profit selling it after, rather than the more common way of building it to an up-front contract. It was most often used when a builder had materials or a little cash available to avoid laying off good workers when there wasn't a contract job available.