The process of building a brand new house is by no means a simple one. There are so many overlapping parts that must come into line if you are to end up with the house that you're dreaming of. If you've already selected your architect and general contractor, you might think that everything's all set and you can sit back and enjoy the show. Before you pull up a seat, there's one more person you need to get on the case: a construction attorney. Hiring a construction lawyer can be the key to getting the finished product that you're looking for. Keep reading to see why.
Construction Attorneys Handle Budget Issues
When you are approved for a mortgage from the bank that amount is basically the budget for your building project. Everything has to be paid out of this sum: The salaries of the workers, the materials, the plans, and so much more. It is critical that you stay within this number because if you overextend yourself you might wind up with a half-finished house.
Mortgage funds are typically given out in increments. The general contractor is the individual who retrieves these amounts from the bank when they need to get more supplies or pay a sub-contractor for the work that they have done. However, no matter how much you may have vetted the general contractor, you just never know if they are going to use the money in the way that it was budgeted. No matter how honest they may be, if a financial emergency arises in their personal life it can be tempting to dip into the pot to get the money needed to take care of their problem.
It would be very wise for you to let a construction attorney oversee the mortgage funds. The general contractor will only be able to extract funds from the loan money with the approval of the lawyer.
Don't Let Liens Become An Issue
If an issue arises between the general contractor and one of the workers, the disgruntled party could place a lien on the house. This puts a swift halt to the building process. Construction attorneys help to keep this from happening by serving as an arbitrator that can bring about resolution.
Construction attorneys are knowledgeable about things like claims, contracts and wage requirements. With their assistance, you can get your home built without running into the kinds of problems which can work against you.
Get in touch with professionals like Sauro & Bergstrom, PLLC to learn more.