Insights and News

Managing Money on a Construction Project

It’s critical to carefully manage contractor payments on your construction project. Whether it’s a new home or a large remodel, failing to do this can expose Minnesota homeowners to significant risk. Understanding a few simple concepts can assist homeowners in greatly reducing this risk. Follow a Payment Schedule. Most homeowners hire a general contractor to complete

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Contractor Recovery Fund – The Basics

It was supposed to be the home renovation project of your dreams, but you’re six months in and your contractor isn’t answering your calls, ninety percent of your construction loan has been drawn, and you have subcontractors telling you they haven’t been paid. The dream is quickly becoming a nightmare. Luckily for you, though, if

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2017 Amendments to the Minnesota Common Interest Ownership Act (MCIOA)

Recent amendments to MCIOA have added additional layers of complexity to managing an association’s common elements and, in particular, to bringing construction defect claims arising out of the original construction. Associations new and old should take note of the new requirements and how it will affect them. Amendment’s Effect on Construction Defect Claims for Associations

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Tips on Collecting Unpaid Association Assessments

For many associations, assessments cover the cost of maintenance, landscaping, water, snow removal, and other important expenses. Timely payments of assessment dues are a significant part of maintaining a successful homeowners’ association. The following are collection tips for associations who have members currently past due on their monthly assessments. 1. Check the Payment Ledgers. Whether

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Buyer Beware? Know your Disclosure Rights

As any person who has purchased a home understands, the home buying process involves a good deal of paperwork. Included in that pile is the seller’s property disclosure statement. The property disclosure statement is instrumental in the purchase of a home and is expected to be a full record of pertinent information known to the

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Thinking About Getting in On Minnesota’s Construction Boom?

If January is any indication, 2017 should be a banner year for homebuilding in Minnesota! If you are one of homeowners looking to hire a contractor this year for a new construction project, make sure to take steps to protect yourself by doing your due diligence, including hiring a licensed contractor. The Minnesota Department of

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Tips for Finding the Right Inspector for Your Home

Home inspections are a critical part of the process in purchasing a home. However, in Minnesota, there are no specific licensing requirements in order to become a home inspector. Below are some helpful tips when it comes to hiring a trusted inspector in Minnesota to give your home the stamp of approval and avoid ending

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Minnesota Construction Boom?

On Wednesday, January 4, 2017, Minnesota Governor Mark Dayton proposed the largest public construction package in Minnesota history. Projects that would see an influx of money include state colleges and university projects, water infrastructure projects, farming operations, rehabilitation for local roads and bridges, and more. 2016 marked the second time in 30 years that the

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