The builder agreement is a very important legal document for home buyers. It is a contract which contains all the terms and conditions which have to be complied by both the Owner and the builder. While building property, whether for personal use or as an investment, the builder agreement is important from the legal perspective as well. owner and builder must read this document carefully as the terms and conditions mentioned will help to ensure that your rights are protected and you get what you have paid for. This agreement can empower you to stand up for your rights at any legal or non-legal forum.