Real Estate & Construction  June 8, 2007

Homeowner protection, homebuilder nightmare?

When the Colorado legislature passed the Construction Defect Action Reform Act in 2003, both lawmakers and homebuilders thought they’d reached a workable compromise.

The measure provided a process for home owners to work with their builders to secure needed repairs resulting from faulty construction, avoiding costly and time-consuming litigation.

So, what’s the point of House Bill 1338, the Homeowners Protection Act of 2007, which became effective on April 20?

HB-1338 makes it illegal for homebuilders to require buyers to sign waivers of certain basic provisions of CDARA as a condition of buying a home. It does not change or alter any provisions…

Sign up for BizWest Daily Alerts
Closing in 8 seconds...