Building owners in Tennessee often enter into written agreements with contractors to have construction work done to their properties in exchange for payment. A construction contract will typically include the following information: The scope of the project to be completed. The process for modifying the project plan. The total cost of the project and the terms of payment. The project schedule and any work completion deadlines. The quality of the work. The process for resolving disputes. When one party fails to uphold their contractual obligations, they have breached the contract. The breach may ..read more

Buying a home requires a significant investment. As a result, you must ensure that the investment is sound. One area to investigate is the property’s foundation. Foundation issues can cause many problems in a home, so buyers must look for signs of trouble. Exterior inspection Look for any visible cracks in the exterior foundation walls, especially near the corners. These cracks may indicate foundation settlement or shifting. Additionally, observe the alignment of exterior doors and windows. If they appear misaligned or have difficulty opening or closing, it could be a sign of foundation moveme ..read more

When buying a home in Tennessee, earnest money acts as a good faith deposit, demonstrating to the seller that you are serious about the purchase. This money usually goes towards your down payment and closing costs if the sale proceeds. However, certain situations can lead to the forfeiture of your earnest money, turning an exciting home-buying process into a costly lesson. Understanding how you might lose your earnest money is important for any homebuyer. 1. Missing the closing date One of the quickest ways to jeopardize your earnest money is by failing to close on the home by the agreed-upon ..read more

Windows enhance the look of a home, bring in natural light and allow for invigorating breezes. However, when a builder fails to do the job properly, it may be a precursor to other problems. Catching window troubles as soon as possible, even before a project is complete, can save time and money. Gaps and uneven frames One of the simplest methods of identifying incorrect window installation is looking for gaps or irregularities around the edges. Such flaws are notorious for allowing the elements in. When searching for these imperfections, remember to examine frames from both sides. Trouble openi ..read more

When embarking on a commercial construction project, you must have all the information about the land and property. Surveys play an important role in providing accurate data that can guide your building plans and help you avoid potential issues down the line. There are several different types of surveys available for commercial buildings. Most of these surveys provide different information. Based on your construction needs, you may need more than one report. ALTA/NSPS land title survey An ALTA/NSPS land title survey provides comprehensive information about a property’s boundaries, improvements ..read more

When purchasing a new home, it is easy to get caught up in the excitement of finding your dream property. Prior to signing the dotted line, it is important to conduct a title search. It is an investigation into the history of a property’s ownership to ensure there are no unforeseen issues or legal complications. 1. Uncover ownership disputes A title search can reveal any disputes or conflicting claims to ownership of the property. Without a thorough investigation, you could find yourself in the midst of a legal battle over who rightfully owns the home. By conducting a title search, you can ens ..read more

A construction dispute can cost you quite a bit. Disputes are bound to come up in any business, including the construction business, but they often cost time and money to resolve. They can also delay a construction project, leading to even higher costs and putting the entire project at risk. Your instinct might be to go to court over a construction dispute, but sometimes litigation is not your best option. You might be unpleasantly surprised to learn that the court process takes quite a long time. Some construction disputes can be litigated within a month or two, but that does not happen often ..read more

In the bustling construction world, contracts are the backbone of every project. They provide a roadmap for successful completion. When facing a breach of contract charge, you must know how to steer your construction company through these choppy waters. Understand the claim First and foremost, grasp the nature of the alleged breach. Identify the specific contract terms in question. This process allows you to present a clear defense that addresses the issue. Thoroughly review the contract in question. Pay close attention to performance timelines, deliverables and any clauses related to unforese ..read more

In the dynamic landscape of Nashville’s real estate market, investors often encounter complex financial structures designed to mitigate risks and optimize financing. One such instrument gaining traction is the special purpose entity. Understanding what an SPE is and why lenders might insist on its creation can empower investors to navigate the intricate world of real estate transactions more effectively. What is an SPE? An SPE is a distinct legal entity created for a specific business purpose. In Nashville real estate, this often involves isolating a particular property or project from the bro ..read more

In commercial real estate, bid protests can be a crucial aspect of the competitive landscape. Understanding your legal options ensures a fair playing field and protects your interests. It is important to know the avenues available in Tennessee if you are considering filing a bid protest. Initiating a protest When dissatisfied with the outcome of a commercial real estate bidding process, your first step is to initiate a protest. Clearly articulate your concerns regarding the bid evaluation or selection process. Title 12 of the Tennessee Code empowers bidders to challenge unjust or biased decisi ..read more