When buying a home in Tennessee, earnest money acts as a good faith deposit, demonstrating to the seller that you are serious about the purchase. This money usually goes towards your down payment and closing costs if the sale proceeds. However, certain situations can...
Blog
4 reasons to do a title search before buying a new home
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Feb 5, 2024 | Blog, Residential Real Estate
When purchasing a new home, it is easy to get caught up in the excitement of finding your dream property. Prior to signing the dotted line, it is important to conduct a title search. It is an investigation into the history of a property's ownership to ensure there are...
What to know about breach of contract
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Jan 10, 2024 | Blog, Construction Litigation
In the bustling construction world, contracts are the backbone of every project. They provide a roadmap for successful completion. When facing a breach of contract charge, you must know how to steer your construction company through these choppy waters. Understand the...
What are the key components of a construction contract?
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Oct 17, 2023 | Blog, Construction
Construction projects are complex endeavors filled with moving parts. Before embarking on one, having a clear and detailed contract in place remains wise. Although drafting such a document can be a chore, completing the task will pay dividends. A comprehensive...
What does “as-is” mean in real estate?
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Oct 11, 2023 | Blog, Residential Real Estate
According to Redfin, August 2023 saw a 5.9% increase in prices over 2022. The market has been quite volatile, with many buyers taking major risks to secure homes. The term "as-is" in real estate listings and contracts is becoming more prominent. But what does it mean...
3 things building contractors should know about retainage
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Jul 18, 2021 | Blog, Construction
As a building contractor, you may need up-front payment to buy building supplies, pay workers or secure permits. Your clients, though, may feel uneasy about paying fully before the project is complete. After all, they may believe there is some chance you may skip...
The right language helps to prevent contract disputes
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Apr 24, 2018 | Blog, Firm News
There is no one size fits all approach to construction, whether it’s a home, a retail center or an office building. Similarly, construction contracts need to vary depending on the conditions and environment. What works for one project may not fit the next, even...
Common new construction defects to watch out for
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Feb 21, 2018 | Blog, Firm News
Given the cost of building or remodeling a structure, it is a reasonable expectation that the finished product will be made of quality materials and assembled correctly. But sadly, that is not always the case. Construction defects are one of the main causes of...
How to avoid buying a “lemon” house
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Jan 19, 2018 | Blog, Firm News
When you buy a car, there are “lemon laws” that protect customers from fraudulent sales. When you buy a house, Tennessee’s real estate laws also help you understand what you’re signing up to own. Purchasing a home is one of the biggest financial decisions you make in...
Construction & contracts: A lawyer can protect your interests
On Behalf of The Law Office of Timothy H. Nichols, PLLC | Jan 18, 2018 | Blog, Firm News
A contract is, in its most basic sense, a written agreement that outlines the expectations of each party. When it comes to construction projects, these agreements can cover issues that range from relatively simple timeline expectations to more complex liability...
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