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Denver Real Estate Law Blog

Categories of liability in construction litigation cases

Imagine you bought a newly constructed, $700,000 home, and several months after you move in, you get hit by a heavy rainstorm -- only to find that the roof leaks. After having someone look into the problem, you find out it's going to cost $20,000 to fix the leaky roof. "Who's going to pay for this?" you'll probably ask.

The fact is, the construction company that was responsible for building your home should pay for the roof repairs, but that doesn't mean that the construction company will volunteer to do it. You might have to file a construction litigation claim to force the construction firm to pay for the repair.

Have you ever considered investing in off-market real estate?

A "listed" real estate property means that it's listed with a real estate agent or a real estate firm. An "off-market" real estate property is not listed with an agent. These properties are typically being sold directly by the owners and in some cases, they can represent very good buys for real estate investors.

From an investor's standpoint, off-market properties can be advantageous because there will be fewer competing buyers. When there are fewer interested buyers, the investor will have more leverage during negotiations. The buyer might be able to secure a deal that he or she wouldn't be able to get in an environment where more competition is present.

Why should I check public records before a short sale?

When you buy a home in a short sale, a bank will allow the owner of the home to sell you the property at a discounted rate in order to pay off the existing mortgage. However, just because the home seller accepts your offer, it doesn't necessarily mean that the bank will accept it. Ultimately, the seller will need to qualify for the short sale through the bank before the transaction can be carried out.

There are two common circumstances in a which a home could be short-sold. These include:

  • Situations in which the homeowner gets behind on mortgage payments and can't get caught back up again.
  • Situations in which the value of a home has fallen below the amount of money that's currently owed on the mortgage.

Buying a ski home? Here are some important tips

What if you didn't have to pack a bag to go on a weekend ski trip anymore? What if you just hopped on a plane, landed in Vail, Colorado, and took a taxi to your own ski-in-ski-out cottage, where you have your skis, gear, ski clothes and a massive supply of hot chocolate warmly waiting for your arrival?

Vacationers purchase approximately 1.13 million getaway homes in their favorite destinations every year. Maybe 2018 will be your year to buy such a home to enjoy during your winter ski holidays.

Snowy ski seasons are a boon to ski real estate

Most people around the country see snow as a cold and brutal nuisance, but not in Colorado ski country -- where snow equals tourist dollars and fun. For example, last year, Colorado and Utah received record levels of snow. Now, realtors who help customers buy and sell homes in ski areas are saying that last year's great snow season has resulted in more home sales.

When the snow comes down, the tourists want to stay, so for anyone in the real estate business in ski areas may want to hope for a white Christmas this year. According to one realtor in Utah, 25 percent of her buyers were moving to the area because they had a great time on their last vacation. The realtor said, "The good snow (helped) some of my buyers with finally getting off the fence or picking up the phone."

What's an asset-based loan?

Imagine you want to buy a bigger factory to build your widgets in. You don't have enough money to buy the factory, but you have an order to produce 1,000,000 widgets, and your accounts receivable data reflects the future income that will come from the sale of those widgets. With this information, you might be able to get a lender to secure an "asset-based loan."

An asset-based loan uses your future earning capacity as collateral for your loan. As a business, you will secure an asset-based loan through a combination of your inventory and accounts receivable information. Depending on the negotiated terms of your loan, the asset-based lender may loan you a percentage of your secured assets. For example, the lender might offer an advance of between 70 and 80 percent of your accounts receivable and 50 percent of your completed inventory.

Landlords are making more money than ever in Colorado Springs

The economy in Colorado Springs has experienced remarkable growth this year -- especially in terms of residential real estate and the rental value of apartments. There has been a 7 percent increase in rental income from apartments, and a 4 percent market vacancy for apartments. The growth has attracted investments from Denver and the West Coast, who currently have their sights on Colorado Springs as a profitable real estate investment opportunity.

Real estate industry experts are saying that the boost to the Colorado Springs real estate economy is all about job growth and population growth. The managing director of Sperry Van Ness says that increasing job growth will result in high occupancy rates in Colorado Springs apartments. Rents in Colorado Springs remain affordable, the director says, and there is room for these rents to increase. Due to the affordability of Colorado Springs compared to Denver, more people are choosing to live in the area.

A walkthrough checklist before closing on your real estate deal

The best-laid plans of mice and men often lie in ruin because the men didn't have the right checklist. The story is no different when it comes to real estate closings. Many well-intentioned homebuyers have made mistakes that have cost them hundreds of thousands of dollars because there was an undotted "i" or an uncrossed "t" that they forgot to double check.

To help you get out your fine-toothed comb before your real estate closing, make sure you use the following checklist on the day of your walkthrough:

Can I cancel my real estate deal?

Just because you've signed a real estate deal does not mean that you will be forced to close on it. There are many circumstances in which your real estate deal might not feel good anymore, and -- in a tactful and respectful way -- you always have the right to say, "no."

The thing is, if you haven't drafted your real estate contract the right way, and with the right kind of contingencies, you might suffer significant financial harm by backing out of your deal. This is why Colorado real estate purchasers may want to enter into their real estate purchase contracts with the assistance of an attorney who can advise them on the appropriate way to draft their deal.

4 tips for your commercial real estate investment

If you've never made a commercial real estate investment before, you probably know that these investments can be lucrative -- and they can also bankrupt you. As such, you'll be eager to know some tips for successfully finding and buying the right property.

The following four tips below can help you find success in your next commercial real estate property investment:

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