Home Builder Highlights

National Stimulus Package falls short for builders

Later this afternoon, President Obama is scheduled to sign the much debated national stimulus bill into law. At 1,079 pages the legislation passed by Congress last week includes many provisions for schools, the auto industry, Wall Street, but very little for the home building industry. To our credit, the National Association of Home Builders were successful in including an $8,000 tax credit for first time home buyers that runs through 11/30/2009. Rather than address the housing market in the economic stimulus bill, President Obama is currently working on a broad reaching housing bill expected to be unveiled tomorrow.

Register Today: Construction Contracts and Law

February 24th, 8:00am - 5:00pm

At HBAGC (1841 W. Army Trail Road, Addison, IL)

Protect your business against legal problems with well-written contracts. Many construction or remodeling companies are too small to hire full-time legal staff so it's important to understand basic contract law. This course provides a step-by-step explanation of how contracts sustain positive customer and supplier relations, provide for resolution of disputes, and minimize the risk of litigation. You will learn about mandatory and optional provisions, warranties, and arbitration procedures. Special emphasis is given to troubleshooting contracts for unfavorable positions. As a graduate of this course, you will be able to:

• Identify the basic elements of a contract

• Identify the benefits and advantages of written contracts

• Define the guiding principles of contract interpretation

• Define and distinguish between the different elements of a sales agreement

• Identify the risks of building on the customer’s lot

• Recognize the differences between construction contracts and sales agreements

• Recognize the importance of a mechanic’s lien contract

• Identify some of the risks associated with modifying an existing structure on the customer’s lot

• Identify the rights and responsibilities of Contractor and Owner during construction

• Identify differences between remodeling and other residential construction contracts

• Describe the differences between an express and implied warranty

• Describe the benefits of written warranties

• Understand the importance of identifying independent standards for construction

• Describe the steps in a typical warranty claim process

• Identify general requirements of a subcontractor agreement

• Be aware of special causes and explain when to use each one (conduit, paid if paid, and dragnet clauses)

• Establish criteria for hiring a construction lawyer

• Discover resources for construction law

• Recognize the advantages and disadvantages to: negotiation, mediation, arbitration, and litigation