A Construction Lawyer’s Five Tips for Potential Purchasers Looking to Buy a New Home
Purchasing a home is often the largest investment any person will make in their life. Yet, the majority of Americans do more research when buying a car than they do when purchasing a home. Most potential purchasers enter into binding agreements to buy houses with very little understanding about the terms of the sales agreement, the property they are purchasing or the company they are doing business with. Below are five things that every potential purchaser should consider before signing a contract to buy a new home, condominium, or townhome.
Protecting the HOA in Spite of Itself: Shareholder Derivative Actions
Unfortunately, construction defects are far from uncommon in townhome, condominium, and other common interest communities. When faced with defects, the typical response of an HOA Board of Directors is to retain legal counsel and pursue the developer, contractor(s), and/or design professionals, ultimately putting the financial burden of the needed repairs on those who caused the construction defects in the first place. What happens though when an HOA Board of Directors is unwilling to take legal action?
Colorado Legislature Immediately Kills SB-219, Homebuilders’ Proposal to Study the Alleged Shortage
May 1 the Colorado Senate Appropriations Committee voted 5-2 to kill Senate Bill 219, which would have given the divisions of housing, insurance, and law a combined $150,000 to collect data on and investigate the current homebuilder-alleged shortage of owner-occupied affordable housing (a/k/a condominiums and townhomes).