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Posts tagged "Real Estate Construction"

A mechanic's lien is an important tool for subcontractors to use

Although it may sound like it would have something to do with a car, a mechanic's lien is actually what's used by building materials suppliers or subcontractors to ensure that they're able to recover costs at the end of a construction project. Because the use of the word "mechanic" is confusing, many also refer to this as a materialmen's lien.

Did you purchase a home or building with a construction defect?

Real estate purchasers in Colorado -- whether they are associated with a business or buying for personal uses -- must take care to ensure that the buildings or homes they buy are free of construction defects. This is especially the case with new construction, as that's when the most significant construction defects could still remain undetected.

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.

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.

3 common contractual violations in a new home

The builder of your new home must abide by his or her contractual obligations, which you and the builder agreed to before you decided to purchase the property. Failure to adhere to the terms of the contract could result in the builder being liable for financial damages.

Sellers must disclose home defects prior to the sale

Can you imagine buying a $1 million home, only to discover that it requires tens of thousands of dollars worth of termite control treatments? Home sellers are required by law to disclose defects related to the properties they sell. Failing to do so could leave the home seller liable for the cost of repairs later incurred by the purchases of the property.

Protect yourself when signing a new construction builder contract

When builders are creating a new-construction residence, they often sign contracts ahead of time with prospective buyers. However, these contracts are not always for the benefit of the buyer. They're usually drafted for the benefit of the builder. You'll therefore want to avoid agreeing to an in-house builder agreement at all cost. Instead, you may want to create your own home purchase contract.


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