A builder can be used for home remodeling, home improvement projects, gut rehabs and new construction. The best way to get a good builder is to get referrals from people the builder has worked with before, friends or other people you trust. Learn more about hiring a builder and what recourse you can take if the job doesn’t go smoothly.
A home buyer signed a contract to buy a new construction condominium two years ago and after several delays with the builder, he would like to get out of the deal. A real estate attorney can help walk you through new construction deals and prevent large losses later in a transaction. Under federal law, this buyer might have a right to terminate the contract if he didn't receive certain disclosures for the new construction condo.
The good news continues. Housing starts in July, 2007 were 1,381,000, down 6.1 percent from June. The bigger news is that housing starts are down nea...
Make sure your new home still passes important inspections before closing. When purchasing a not-yet-built home, you should include a home inspection contingency as part of the contract. This way, if the home doesn't pass the home inspection, you as a buyer can delay closing until the problems are fixed.
Builders are facing cancellation of new construction contracts all over the country. Unless it is specified in the contract, there is no obligation on the part of the builder to return your deposit if you cancel the contract. As the buyer, you are obligated to fulfill the term of your real estate contract.
A homeowner, and many of his neighbors, feel the developer delivered a vastly different neighborhood than what was promised. Some states require developers to disclose their development plans in advance of having a buyer sign a contract for the purchase of a home. Some states also have consumer fraud statutes that may apply to your case. The homeowners should consult a real estate attorney to determine if they have cause to bring a case against the builder.
Residents of the 9th ward in New Orleans were hit perhaps the hardest by Hurricane Katrina. Ronald Lewis was the first person to move back into the 9th ward, and still remains one of the few to return. With the help of students and an architect he has rebuilt his home to be an example to other residents to return and help rebuild the 9th ward. Ilyce wonders if a neighborhood can still survive without its neighbors.
Typically, new construction contracts are written by the developer and for the developer. That means the contracts are heavily slanted to favor the developer in all situations, including the product specifications, delivery date, and variations in the lot and house configurations. This home buyer might not have a case against her builder for changing the specifications of her contract.
After the inspection of a newly constructed home the buyer has found that the air conditioning does not meet the manufacturer's requirements. Now she is negotiating with the developer and sub-contractor to get some assurances that the unit will work. A real estate lawyer can help determine what was included in the contract and how she can get out of the purchase if the developer doesn't fix the AC or provide a warranty.