A guaranteed maximum price construction contract is a contract in which the contractor agrees not to exceed a certain price for a construction process. The contractor assumes the risk of cost overruns caused by things like severe weather.
Read MoreLiens are claims on property for nonpayment. When a lien is placed on a property, the owner of that property can be affected in profound ways. A bank will not give a mortgage to a property with a lien on it, for example. This can be a problem if you are paying for a property to be developed with a construction loan and you need to convert that loan to a permanent one at the end of the project. If a mechanic's lien is put on the property, you may not be able to get your loan to repay the construction loan when construction is complete.
Read MoreYour residential construction contract needs to be very detailed. It should include complete information on the cost of construction, on the timeline for construction, on who will be performing work, and on when the construction project will be completed. If you wish to ensure a project is completed on time, you may also consider including clauses to provide penalties for delays that result in the project getting off schedule.
Read MoreIf a lien has been put on your property by someone who performed work for you, you need to contact an experienced mechanics lien attorney right away. A mechanics lien can impact your property rights in profound ways and can make you responsible for paying the contractor or subcontractor who put the lien on your property.
Read MoreIf you are going to be doing any type of land development, including new construction or remodeling, you need to make sure you do your due diligence. You want to make certain that your land can be used for the purposes that you intend and that your updates or your improvements are permissible. It is up to you to conduct your due diligence before acquiring property or entering into a contract for remodeling or building so you don't find yourself with land you cannot use or a building that violates the rules.
Read MoreIf your tenants are causing a disturbance, you need to take action because your other tenants could become angry, could complain regularly to you, or could even potentially have grounds for breaking a lease if the tenant who is causing the problems is making the property unsafe or uninhabitable.
Read MoreA Philadelphia commercial real estate lawyer provides assistance with many different aspects of commercial real estate investments and real estate transactions. Owning, investing in, or leasing commercial real estate can be a major investment and can require a substantial commitment on your part.
Read MoreA breach of a construction contract occurs under any circumstances where a party to a contract has failed to perform according to the specific terms of the contractual agreement. A breach can be a material breach when the failure goes to the heart of the contract, such as in situations where a construction professional fails to even start a project by a required start date and no building occurs.
Read MoreA real estate lawyer can provide assistance in situations where a commercial tenant must be evicted from a property. This typically occurs as a result of the fact that the commercial tenant breached a lease agreement through nonpayment or through another action that violated lease terms.
Read MoreConstruction projects need to be completed on schedule, and contractors should be paid on schedule when they fulfill their responsibilities under the contractual agreement. Unfortunately, sometimes contractors fall behind in completing work or property owners fail to pay for services by the deadline.
Read MoreLandlord and tenant dispute attorneys provides assistance if a dispute arises between a landlord and a tenant. There are many reasons for disagreements to arise within the residential or commercial rental market.
Read MoreAnyone who is buying or selling a property needs to know what title means and how the law applies to property title.
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