Watch Your Back: Construction Defect Legislation Update
This year will be a very big year for construction defect legislation. Many of Colorado's legislative bodies, including the Colorado General Assembly, the City of Lakewood, and the City of Lone Tree are aiming to curtail homeowner rights by passing laws that are designed to protect homebuilders from liability arising from the construction of defectively built homes. These legislative bodies have either passed or intend to pass legislation that will significantly impact Colorado homeowners and community associations.
Colorado’s Construction Professionals in Their Own Words: HB 10-1394 Raised Our Insurance Premiums
In 2010, the construction industry was willing to accept increased insurance premiums in exchange for insurance policies that actually provided coverage for construction defects. Now, the construction industry is trying to use the increased premiums as a justification for enacting laws that make it more difficult for homeowners to hold construction professionals accountable for their own shoddy workmanship. The Builders got what they asked for in 2010 and now they are using their increased insurance premiums as an excuse to take away homeowner rights.
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.