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Real estate developers purchase properties with the intention of reselling, remodeling, or even leasing out property. They actively plan a role in construction as they often will need to hire contractors or subcontractors to complete repairs or new construction projects to make the property more appealing to potential clients. Developers do more than just purchase and repair property. They aid in financing real estate deals and in land development. Real estate developers help connect customers to architects and contractors to help bring their dream home or business to life. And Mallon Lonnquist Morris & Watrous is here to help you with your construction law needs.
How the Construction Process May Lead Up to the Need for a Construction Law Attorney
Architects design and plan new construction and remodel jobs. They will help clients bring their vision to life and help guide them in the hiring of a contractor to help complete that vision. Hiring a good architect is the first step in any construction and often a remodeling project. Often, they will have a recommended contractor to help with the next steps.
Contractors, also known as general contractors or main contractors, are businesses that are hired to help complete a project such as new construction or a remodel. They bid on the jobs and generally work on a contract basis. They often only get paid upon completion of the project or take draws. They may hire other entities, known as subcontractors, for specialized work that needs to be done.
Contractors act as the management of any construction project. They are responsible for being the go-between for customers and subcontractors and ensuring that requests and demands are communicated in a timely fashion.
Subcontractors are a vital part of all construction. They sign on to help contractors fulfill certain jobs on construction sites that need to be completed. Examples of subcontractors include:
- Drywall finishers
Subcontractors are hired to help mitigate the responsibility for specific jobs on the construction site.
Often subcontractors work under a “pay if paid” contract. This means that they get paid for their services if and when the contractor is paid. This type of contract can leave subcontractors suffering if there are issues with the contractor’s overall performance or if their client refuses to pay for any reason.
Banks and lenders also have a stake in the construction world. They give out loans to clients and construction crews. The reason for said loans can vary from startup construction crew loans, used to help pay for insurance, tools, and needed equipment, to loans given to purchase property to build on, and even borrowing against existing property to improve the existing structure. Banks are able to loan the property owner or property management firm the money to improve their property to sell or lease out.
Each May Have a Need for a Lawyer
Any one of these entities can find themselves needing the assistance of a skilled business attorney. Mallon Lonnquist Morris & Watrous can help you in the event that you find yourself needing help due to breach of contract, nonpayment, misconduct, and more. We have over 30 years of experience in Colorado, helping to represent businesses and protect them and their employees.