New Construction Transactions in Residential Real Estate 2024

  • OnDemand seminar
  • Real Estate Law
New Construction Transactions in Residential Real Estate 2024

This program is an excerpt from the Annual Real Estate Update 2023.

Do your homework

From 2022 to 2023, construction on new single-family homes in the U.S. increased by 18%.1 As the demand for newly constructed homes increases, you’re likely to have more clients entering the residential real estate market. But builder contracts sometimes contain traps for the unwary homebuyer, so lawyers must know what to watch out for.

At New Construction Transactions in Residential Real Estate, Anne E. Wal will share insights on common construction contract issues, including:

  • What should be included in the contract sum
  • Who “owns” the plans and specifications
  • Who is responsible for builder’s risk insurance
  • The difference between a warranty and a correction period
  • Contractual provisions related to air quality
  • Dispute resolution clauses and options

Product details

Faculty

  • Offer sound guidance to clients on new construction transactions
  • Know what should be included in the contract for newly constructed homes
  • Understand how to calculate the contract sum
  • Manage client risk when it comes to insurance, warranties, correction periods, and air quality
  • Review available dispute resolution options between builders and home buyers
  • Hear real examples that illustrate contractual issues in new construction
  • Real estate lawyers
  • Title and closing lawyers
  • Landlord-tenant lawyers
  • General practitioners
  • Real estate agents and brokers

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