Real estate construction is about improving the value of the property, to make more money from the asset.
Construction involves the rights of the Owner, the Tenant, the Bank, the Contractor who will do the work, and his workers and suppliers, and the Government.
Are you building from the ground up? What are the legal issues with:
-Finding a property
-Buying the property
-Dealing with the Bank
-Finding a Contractor to build
-Finding a Tenant before the project is complete? Or before it starts?
-Dealing with the Government
-Selling the property when it is completed
Are you repairing or improving the property?
-But you have Tenants in the property?
-What are the problems with hiring a Contractor? Architect? Doing the work yourself?
-What if the project gets behind schedule? Or goes over budget? (most projects do both)
-How do you handle new changes that need to be made during the project?
-What if someone runs out of money before completion? Or foreclosure? Or bankruptcy?
-What about the Government? Inspections, Permits, Zoning?
-What about Insurance? Security? Bonding?
Or, Is the Construction finished, and now there are problems with:
-Financing / Bridge loans / Subordination
-Worker’s compensation problems
-Insurance or Bond claims?
-Negotiating with Tenants and Landlords
-Government regulations / Permits / Zoning / Use restrictions
No matter which part you play in a construction project, and no matter what stage you’re at, be sure you are on solid foundation and you know where you are going? Are you still on track?
If you have ever touched any construction project, you know that problems always arise. No project ever goes exactly as you planned it. Are you ready? Are your contracts drafted to cover any problems? Are your finances sufficient to deal with delays? Is Covid-19 (CORONA VIRUS) affecting the project?
What are your rights? What are your obligations? You know the potential rewards when the project is finished, but what is your risk and how is it changing?
If you have ever worked with a lawyer in a construction project, then you know the feeling of “I wish I talked to the lawyer earlier.” The lawyer’s job is to plan for the worst and be ready for problems when they come up. Later, his job is to fix it.
We fix Real Estate problems. Real Estate is 100% of what we do. Even if you do not choose us to represent you, we will add value to your project just by talking with you, understanding your situation, and then giving you advice and ideas based on knowledge and experience. Because problems do not fix themselves.