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You have just signed a contract to make the largest purchase that you probably will ever make in your lifetime - - a home. Not only is it wise to understand the details of the purchase contract, but it is also important to understand potential problems you may be facing in the home itself. That is what home inspections are all about. Theoretically, you can inspect a home yourself. However, when you purchase a home, the average buyer looks for reasons to buy it and not for problems the home might have. That is why an unbiased home inspector, who will cost you somewhere between $250-$500 depending on the size of the home, is almost mandatory in any home purchase.
Your shower and commode are partitioned off your master bathroom and can be closed off when you are using that area. You notice some “dirt” or “soot” in the ceiling above the commode, but you are not concerned. You can wipe it off another day. Wrong. It is not dirt or soot; it is mold, and although it is only small, if you do not do something immediately, the mold will continue to spread and create a potentially serious health hazard to you and your family members.
While the real estate market in Colorado purportedly is showing signs of life, there still are thousands of homes in foreclosures and/or on the market for short sales. Although a short sale is surrounded by complexities and mystifies homeowners who are not familiar with the process, there is no question that short sales, although not for everyone, have some substantial advantages over allowing a home to go though the foreclosure process.
If you either are or have been a landlord or tenant, you undoubtedly have heard of Colorado’s treble damage statute pertaining to security deposits.
Why and when should you know about the priority of liens on Colorado real estate?
Anyone purchasing a home needs to have it inspected, not only by a general home inspector, but in many cases by a professional engineer, mold inspector, radon tester, or any other specialists trained to evaluate any other potential problem.
So you want to build a redwood deck on the back of your home? You contact Joe Contractor and he agrees to build it for $15,000.00. You pay him $5,000.00 down, make progress payments to him and pay the remaining amount at the time the project is finished. You love your deck.
Is your “independent contractor” truly one or is he or she, in reality, an employee? The distinction makes all the difference in the world on how you are treated by the IRS and the state of Colorado.
Many employers think that a covenant not to compete will solve their problems of employees who quit and set up competing businesses. Unfortunately for those employers, it is not that simple.
So why are you running your business as a sole proprietorship? Why don’t you incorporate? How about an LLC, but what is that anyway? Maybe you need a partner.