Many Toledo businesses may choose to build their own facility from the ground up.
Other businesses in northwest Ohio may engage in a major construction project in order to add on to existing real estate.
Likewise, many homeowners in the area might choose to build their dream home or do a major remodel to perfect their existing home.
Major construction projects are big legal undertakings and also involve a lot of financial investment. While everyone hopes that the project goes smoothly, there are a number of things that could go wrong. Here are some examples:
- The contractor might run into financial trouble and be unable to continue with their obligations.
- On a related note, the contractor may not pay or may have other disputes with their subcontractors.
- If a contractor does not pay a subcontractor, the landowner may face a surprise mechanic’s lien, even if they have paid the contractor in a timely fashion.
- Unfortunately, sometimes contractors or their subcontractors will make a business decision not to continue with a job or may try to demand different terms to their agreement.
- There can be problems with the materials the contractor uses, or the workmanship could not be up to standard.
- There can be other contract disputes, including disputes over deadlines. After all, a delayed project could cost a business or a homeowner tens of thousands of dollars.
- There can be issues with government authorities or with neighboring landowners.
Business owners and homeowners need to understand their options in a dispute
The stakes are high in a construction dispute.
An Ohio landowner may have additional and unplanned out-of-pocket costs. Additionally, disputes can cause lengthy delays. In the worst cases, the project will not get finished.
In short, the investor faces the prospect of serious economic fallout.
Ohio landowners who are in the middle of a construction dispute, or who think they may face one in the short term, should make sure they understand their legal options.
