A construction defect is an imperfection in a homeowner's property that reduces the value of the property. Construction defects encompass a wide variety of faults and may include a failure to properly design, plan, inspect or construct a structure. Arizona property owners who find themselves involved in a construction dispute over such imperfections may wish to have a better understanding of what a construction defect entails.
Commercial developers often breathe a sigh of relief when property is successfully purchased. Yet, this is often just one of the many steps that must be completed in order to build profitable businesses and residences. In far too many instances, construction disputes arise that threaten to leave a commercial developer with a delay and lost profits. Conversely, developers who fail to make on time payments to a builder or a material supplier may cause the construction company to lose money and time and might even damage its reputation.
A 17.5 acre project that costs $90.5 million could be an Arizona contractor's dream, or a nightmare if something were to go wrong. A money-making project can easily have its profits eaten up if the building process has any delays or if problems are created during the building phase, creating a legal quagmire that could require special attention.