5 of the Biggest Mistakes Real Estate Owners Make When Negotiating Construction Contracts
When is a Judgment not a Judgment?
Jeff Becomes Co-Chair of MCBA Real Estate Section
Listen to Jeff on the Radio!
Jeff & Michelle's Upcoming Seminars
Articles
Quotes & Speeches
February 2003
O.P.M. (Other People's Mistakes) AlertImportant Legal Developments in Real Estate, Business, Litigation and Estate Planning from
www.lermanlaw.com
Friends and Clients: With Spring just around the corner, many of our clients are about to start construction projects. This issue, therefore, and the next few issues will feature articles on construction. 5 OF THE BIGGEST MISTAKES REAL ESTATE OWNERS MAKE WHEN NEGOTIATING CONSTRUCTION CONTRACTS [Note: this article will be published in the 2/17/03 North Bay Business Journal.] In all of real estate, there is perhaps no transaction that more frequently dissolves (or escalates) into litigation than the one between real estate owner and contractor. This fact has lead one judge to remark, with respect to home construction: "No reasonable homeowner can embark on a building project with certainty that the project will be completed to perfection. Indeed, errors are so likely to occur that few if any homeowners would be justified in resting their peace of mind on [its] timely or correct completion...." Yet it is astonishing how frequently real estate owners-from homeowners through large commercial property landlords-fail to minimize their construction risks by exercising some basic, even common sense, negotiating strategies when it matters most: when negotiating the construction contract. This article discusses five of the biggest negotiating errors most frequently made by real estate owners even before the first nail is hammered. Read on... Back to Top WHEN IS A JUDGMENT NOT A JUDGMENT? Problem: Three clients (a mother, father and their recent college graduate son) came to us after a substantial judgment had been entered against them, even though they had been represented by two lawyers in the lawsuit. Solution: After reviewing the file, we identified what we believed to be grounds for vacating the judgment. We filed the necessary papers, succeeded in getting the judgment set aside and, thereafter, also succeeded in getting the lawsuit dismissed as against the son (a top priority for all the clients) and getting the entire lawsuit stayed ("frozen") indefinitely (for all intents and purposes). What's the lesson? Even if you receive an adverse ruling, you may have remedies to modify or vacate that decision. Explore all options with your lawyer. To see what this satisfied client had to say, click here... Back to Top JEFF BECOMES CO-CHAIR OF MCBA REAL ESTATE SECTION Effective January, 2003, Jeff became co-chair of the Marin County Bar Association, Real Estate Section. Back to Top LISTEN TO JEFF ON THE RADIO! You can now listen to Jeff Lerman every week on "The Real Estate Guys" radio program. He is featured in a segment called "The Lerman Law Lesson". Tune in throughout the San Francisco Bay Area every Saturday at 9:00 a.m. on KYCY 1550 AM and Sunday at 7:30 a.m. on KFRC 610 AM (two different shows). Jeff also appeared on "Legal Incite", a legal radio talk show on CNET 910 AM on October 12, 2002 to discuss his special report "When Your Property Is Under The Magnifying Glass", a guide for property owners to maximize the refinance or sale value of their commercial property. To read that Special Report, click here... Back to Top JEFF & MICHELLE'S UPCOMING SEMINARS Jeff is teaching "How to Uncover Hidden Profits, Minimize Risks and Avoid Legal Traps in Commercial Real Estate Investments" on February 27 from 6:30- 9:30 p.m. in San Francisco. To find out how you can attend this seminar and get the materials for free (a total value of approximately $150), click the link below. Michelle is offering her Real Estate Products "How a Living Trust Can Protect Your Family From Probate & Estate Taxes" on March 4 and 6 in San Rafael. For reservations (seating is limited), please call our office. To find out how you can attend Jeff's seminar for free, click here... Back to Top ARTICLES Michelle wrote "How Trust Mills Overlook Key Issues" with CPA Claude Bishop in the January 13, 2003 issue of the North Bay Business Journal. To read this article, click here... Back to Top QUOTES & SPEECHES Michelle was quoted in the April 1, 2002 issue of the California Real Estate Journal in "Squabbling for Dollars- Family Trusts Are a Common, But Volatile, Commercial Real Estate Owning Entity". Jeff spoke at the "Profitable Real Estate Investing Seminar" (approximately 200 attendees) in December, 2002, on the topic "15 of the Biggest Mistakes Real Estate Investors Make When Selecting and Forming Ownership Entities." He spoke on the same topic in front of the Bay Area Investors Educational Services (BAIES) group (approximately 120 attendees) on January 29, 2003. He also spoke on the topic "The New Homebuilder 'Fix It' Construction Dispute Resolution Law" in front of approximtely 50 brokers at their license renewal course and in front of the Frank Howard Allen San Rafael office in January, 2003. If you would like Jeff or Michelle to speak at your next group event, please contact our office. Back to Top PLEASE NOTE: This newsletter summarizes recent legal developments. It is not meant to express any legal opinion or advice. You should consult an attorney for legal advice. COPYRIGHT 2003 by Lerman Law Partners, LLP. All rights reserved | 
