New ventures are exciting. The chance to build something literally from the ground up and watch it grow and thrive can be an enticing reason to start a real estate project. However, before you take that first step, you need a thorough understanding of the potential risks involved.
California readers know that trespassing is illegal, but there are circumstances in which a person could actually obtain certain rights to use property that belongs to another party. This confusing concept goes by the name of adverse possession, and you may find it beneficial to understand how this process works.
When purchasing, leasing or renting California property, it is essential to understand how any potential easement could impact your ability to use the property as you wish. Easements are a complex area of real estate law, and disputes can quickly end up in litigation when out-of-court settlements are not possible. Easements can affect both residential and commercial properties.
The process of preparing for a complicated building project may be more intense than the construction itself. With countless unknowns, it is difficult to assess your risk and prepare for every contingency. Your contractors have the responsibility of ensuring they meet their obligations with as little negative impact as possible.
Investing in commercial real estate development often comes with enormous risk. The many variables, such as weather, the availability of materials and labor issues, may make any investor lose sleep over a project. If you have invested previously in a commercial real estate project, you may already have experience with the things that could go wrong, particularly when dealing with developers.
The world of construction is changing rapidly. Gone are the days of townspeople coming together to raise a building in a day. California building projects are increasingly demanding, and contractors face many challenges. Owners want their projects completed quickly and cost-effectively while contractors must be aware of local codes, environmental concerns and labor issues.