Posts tagged Pre-Start Construction.
The scenario of a developer who paid cash for a parcel of land and wants to get started on development and construction prior to the closing of the construction loan is fairly common. However, under Ohio law a pre-start construction project creates difficulties for the title insurance underwriter to insure the priority of the mortgage over mechanic’s lien risk. This is likely to result in more time and costs to provide the required title insurance and if not handled properly, it could jeopardize the financing for the project.
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Recent Posts
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- Ohio Governor Mike DeWine Signs Executive Order Requesting Relief for Small Business Commercial Tenants and Commercial Real Estate Borrowers
- COVID-19 and Commercial Real Estate
- Columbus, Ohio ICSC 2020 Recap – The LLC Membership Interest “Loophole”
- Issues for Residential Landlords Attempting to Navigate Cincinnati's New Security Deposit Legislation
- Legal Alert: EPA Repeal of 2015 "Waters of the United States" Rule
- Columbus, Ohio ICSC 2019 Recap – Land Assemblage Best Practices
- Proposed Creation of the Economic Development Bond Bank
- Proposed Ohio Opportunity Zone Tax Credit
- Ohio Opportunity Zone Designations Within the City of Cincinnati