independent contractor agreement: Haziran 2012

25 Haziran 2012 Pazartesi

Pet Trusts in Illinois

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A year and a half ago, my wife and I added Leah, a stoic black lab, to our family. As any dog owner would expect, Leah is much more than "just a pet" to us. She is the closest thing to a child that we have at this point.
When my wife and I are out of town, we call my friend, Kristin Skelton, owner of Floofins & Co., which provides pet sitting and dog walking services, to make sure that Leah is taken care of while we are gone. Kristin recently told me that many of her clients had asked her about pet trusts, which are trust funds you can establish to ensure that your pets are taken care of after you pass away. Being a dog lover myself, I was thrilled to write an article on the subject at Kristin's suggestion.
Pet trust law, including the validity of such trusts, varies from state to state. Fortunately, Illinois recently enacted a statute that explicitly provides for the creation of pet trusts.
When you create a pet trust, your attorney will draft a trust document naming your pet as the beneficiary of the trust after you pass away and also naming a trustee, who will be responsible at that time for managing the assets of the trust for the benefit of your pet. You and your attorney can then transfer assets into the trust.
Such assets will remain in your control during your lifetime, but will not be included in your estate at your death. Instead such assets will be legally held by the trust until they are distributed for the care of your pet according to the terms of the trust.
For more information on trusts in general, please visit our estate planning page, where you can watch a short video of our recent estate planning seminar.
If you are considering a pet trust, you should keep the following information in mind:

Trustee: It is advisable for the trustee to be someone other than the caretaker of the pet. You should also name at least one successor trustee in case the original trustee should be unwilling or unable to perform his or her duties. The Illinois statute provides that no portion of the trust assets can be used for the trustee's own purposes, unless specifically provided for in the trust document. Your trust document can provide for compensation to your pet's caretaker or to the trustee, should you so choose.

Beneficiary: You may identify each beneficiary pet by simply stating your pet's name. However, you can also reference your pet's microchip, if you have had one inserted. In addition, you may include any descendants of your pet as beneficiaries.

Management: In the trust document, you may provide a detailed description of how your pet should be cared for, including naming specific veterinarians that are authorized to care for your pet.

Termination: The trust will terminate when no beneficiary pet is living. The trust document should describe how you want the remaining trust assets to be distributed at this point. If the document does not contain such a description, the remaining assets will be distributed to your heirs, according to statute.

Funding: The trust may be funded by transferring your assets to the trust during your lifetime. However, it may also be funded by a life insurance policy, of which the trust is the beneficiary. If the assets in the trust are substantially more than reasonably necessary to accomplish the trust's purpose, the court has the power to reduce the amount of assets held by the trust.

Please visit our website for more information and resources or e-mail us at info@oflaherty-law.com with any questions or suggestions for future articles.

March 22: Open Bar and Small Business Primer at Shanahan's in Woodridge

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O'Flaherty Law and DDZ Accountng invite you to join us on Thursday, March 22, 2012 for an informative and fun evening at Shanahan's pub (1999 W. 75h St., Woodridge, Illinois). Open bar and free appetizers will run from 7pm to 9pm.

Attorney Kevin P. O'Flaherty, accountant D Zorea, financial adviser Justin J. Villanueva, and commercial real estate broker Troy Golden will discuss strategies for small business success. Whether you are just starting your business or an experienced business owner looking for a tune-up, this event will provide you with a road map to keep your business legally and financially secure.
After the presentation we hope you will stick around and get to know the speakers as well as the O'Flaherty Law staff.
If you have any questions about this event or any other topic, pleas feel free to give us a call at (630)324-6666, drop us an e-mail at info@oflaherty-law.com, or check out our website. We look forward to seeing you there!

Videoblog: O'Flaherty Law Small Business Seminar

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Please enjoy part 1 of the Small Business Primer seminar presented by O'Flaherty Law and DDZ accounting. Parts 2 and 3 of this seminar can be found on our youtube channel along with our previous seminar on wills and trusts and all of our informational videoblogs.

The topics discussed in our Small Business Primer seminar include:

I. Entity Selection - how to choose between S Corps, LLCs, C Corps, and Partnerships

II. How to get your business up and running

Incorporation and maintenance of your corporate book
Quickbooks
The initial meeting with your accountant
Insurance
How to obtain an EIN (Employer Identification Number)
Contacting the Illinois Department of Revenue for a Tax Identification Number
Dealing with special licenses and regulations that are necessary for your particular business

III. How to make the transition to being an employer

Hiring a payroll service
Dealing with benefits - steering clear of ERISA problems
Obtaining Department of Labor posters
Registering with the Illinois Department of Employment Security & Dealing with Unemployment Insurance
Worker's Compensation insurance
The elements of an employment agreement

Non-compete clause
Confidentiality of trade secrets and other info
Enforcement clause
Probationary period

Creating an employee handbook for systematized and documented expectations and discipline
The importance of termination letters
Considering independent contractors as an alternative

IV. Finding space for your growing enterprise.
If you are a small business owner, please do not hesitate to contact us with any questions you may have, or to set up a free consultation.

O'Flaherty Law is based in Downers Grove and Chicago, Illinois. Our attorneys have expertise in Corporate Representation, Commercial Litigation, Divorce, Bankruptcy, Estate Planning, and DUI defense. Please visit our website at www.oflaherty-law.com for more information and resources or e-mail us at info@oflaherty-law.com with any questions or suggestions for future articles.

"I'm a new business owner -- how many different types of taxes do I need to pay?"

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Today, our friend, D Zorea of DDZ Accounting Group, submits the following article:

If you're a new business owner and are feeling overwhelmed by the prospects of paying too many taxes, it might be because there are so many different types of taxes for which to account. Depending on your type of business, an Illinois business owner will be liable for different taxes including (but not limited to):

Sales: Does your business sell widgets, or food products? You are responsible for collecting the state (and sometimes local municipality's) Sales and Use Tax and remitting these back to the appropriate taxing agencies. Sales tax rates can range around 7.5% to 10%.
Payroll: Do you have employees? You will be matching your employee's payroll withholding taxes, as well as contributing to federal and state unemployment insurance premiums based on your employees' earned wages.
Franchise: The state of Illinois charges a Franchise tax of 1.5% for corporate business owners. This includes LLC, C-corporations and S-corporations, but not sole-proprietors or unincorporated partnerships.
Income: Similar to sole-propietorships, S-corporations and LLC's are considered "pass-through" entities. In other words the net profits of those businesses "pass-through" to their owners and are taxed at the business-owners' individual tax rates. The income tax returns for S-corps and LLC's generate a K-1 form for each shareholder or LLC member; these are the business owner's equivalents to an employee's W-2 form. However, different from a W-2 which typically already includes income tax withholding, a business owner with net-income from his/her business can either file and pay quarterly estimated taxes throughout the year or pay the lump-sum with the year-end income-tax return.

For the above taxes, the IRS and Illinois state agencies may apply late file or late-pay penalties; so work with your tax-professional to calculate the correct taxes due, maximize your tax return, file on time, pay on time, and save all that time and headache of doing it alone. For other questions, please contact D Zorea at DDZ Accounting -- e: d@ddzgroup.com, p: 630-368-0183, other client-testimonials at www.facebook.com/ddzaccounting.

Tenants' Rights 101

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Most apartment tenants have a horror story or two: busted pipes, leaks, mold, infestation, horrible neighbors, etc.--and many of these apartment tenants probably did nothing about these horror stories, believing that their only remedy was moving out. Historically this was the case, but today tenants have a variety of rights to ensure that they live in peace and comfort.
Implied in every lease is an implied warranty of habitability, which requires that the apartment be maintained in a livable condition by the landlord. Working pipes, plumbing, heat, removal of insects and rodents, and keeping the premises within the housing code are the some of the basic requirements of this warranty.
If a breach of the implied warranty of habitability arises and the landlord fails to remedy the problem within a reasonable time, the tenant has several remedies. The tenant may (1) move out and terminate the lease, (2) repair the problem and deduct that cost from the rent, (3) reduce the rent by the damage done, or (4) sue for damages. If the tenant does not wish to take advantage of these remedies, he or she should document all of the damage to ensure that the security deposit is not reduced due to the landlord’s negligence.
Additionally, If the tenant entered into a nice, clean apartment with relatively high rent, only to see the place fall into disrepair, the tenant can sue to have rent reduced by the lowered property value of the premises.
Tenants may not own their apartment, but they do own the possessory right to that apartment: they are entitled to exclusive possession of their entire apartment for the term of the lease. Unless the law of the city provides otherwise, even landlords are not allowed to enter a leased apartment without permission. If the landlord does so he or she is committing a trespass.
Further, Landlords cannot evict tenants without good cause. Good cause generally requires nonpayment of rent for no reason, illegal activities, or severe damage to the building. Historically a landlord could personally enter into your apartment and evict tenants, but today only police are allowed to evict tenants, and they need a court order to do so.
Every city has different rules regarding landlord-tenant relations. Therefore, you should consult with an attorney to determine your rights and remedies before taking action against your landlord.
--Submitted by Eric Turner

24 Haziran 2012 Pazar

Reviewing today's Skype conversation

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I have just finished Skype conversation with Filipino teacher. I would like to refresh the class, of which topic was friends.

(There are two pictures.)
- The first one has a boy sitting in front of the beach with his dog, also sitting. He is pointing our somewhere with his left hand.
- The second is a funny picture. There is a mouse sitting on the cat's back, which is sitting on the dog's back. Those three are typically enemies; mouse dislike cats and cats was chased by dogs.

How do you think borrowing money from friends?
- I do not think it is good idea because borrowing money may damage friendship. When I have to borrow money, it is more often that I have already been in trouble. Borrowing money would make the problem more serious. Fortunately, I have neither borrow money from nor lend money to my friends.

What a friend should do and should not do?
- What a friend should do is to help or just listen to someone in trouble. What a friend should not do is to invade his or her privacy too much.

How do you think about a fair-weather friend?
- I think I have some of such kind of friends. Some of my acquaintance might regard me as a fair-weather friend. I mean I can say the same as someone. I think that kind of situation is inevitable more or less because it typically needs long time to make and find best friends and we have limited time, cost, interest and energy in our lives.

I already had 13 classes in this website. I am feeling a little improvement so far, and am satisfied with those classes basically. However, I need to spend more time to review and refresh the classes because this is the most meaningful time for me to improve English skill.

Corporate Formalities: How to Maintain your S-Corp

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Most small business owners are aware that it is preferable to operate your business as a corporation, an LLC, or an LLP rather than as an individual, because doing so shields your personal assets from business creditors. However, many business owners that I have met with did not know that in order to maintain this liability protection, they are required to do more than simply file articles of incorporation. In fact, your corporate liability shield will only be effective so long as your corporation continues to maintain certain corporate formalities throughout its operation.

Since we generally recommend S-Corps rather than LLCs or LLPs (for more information, read our article: LLCs and S-Corps: Selecting a Corporate Form for Your Small Business), I will limit this discussion to the corporate formalities required for S-Corps.
Do not be intimidated by the procedures listed below. You should be aware of these formalities, because you are the person ultimately responsible for following them; however, your attorney should guide you through this process and should handle most of the procedural work.
You and your attorney should work together to ensure that your corporation follows the following procedures:

File Articles of Incorporation with the Secretary of State - this filing will create your corporation and name its shareholders.
Draft Bylaws - Bylaws are the rules for the operation of your corporation and the interactions between shareholders. Even if your corporation only consists of one shareholder, you will need a set of bylaws in order to show that the corporation is distinct from the shareholder as an individual.
Hold an Initial Meeting of Shareholders - At this initial meeting, you should adopt your bylaws and elect directors. Your attorney should draft minutes from this meeting and file them in your corporate book. Again, even if you are the only shareholder in your corporation, it is important to hold and keep minutes of initial and annual shareholder meetings.
Create a Stock Ledger - A stock ledger is a document recording the issuance and transfer of all shares, as well as the names and addresses of all current shareholders as well as the number of shares held by each.
Create a Corporate Book - This is a book that should be created and maintained by your attorney to house all corporate documents including your bylaws, meeting minutes, and notices.
File Annual Reports - This is an annual filing required by the secretary of state to update the information on file for the corporation. An accompanying fee is required to be paid on an annual basis.
Hold an Annual Meeting of Shareholders - At least one shareholder meeting per year is generally required. In preparing for the meeting, it is important to comply with the notice requirements in your bylaws. Minutes of the meeting should be recorded in your corporate book.
Hold Special Meetings of Shareholders as necessary - Depending on your bylaws, certain decisions may require a shareholder vote, rather than simply director consent. If this vote cannot be taken at the Annual Meeting of Shareholders, you should hold a Special Meeting with proper notice to all shareholders.
Follow the Bylaws for Corporate Action - Your bylaws should indicate which corporate actions require the Directors to vote or consent in writing, which require the vote or consent of shareholders, and which require neither. You should know what your bylaws require and comply with them before taking corporate action.

Depending on the number of shareholders and the operational procedures you desire, you may choose to file your Articles of Incorporation as a Close or Closely Held Corporation, which will allow your S-Corp to do away with some of the decision-making formalities listed above. Close and Closely held corporations will be the subject of next week's article.
Please visit our website for more information and resources or e-mail us at info@oflaherty-law.com with any questions or suggestions for future articles.

March 22: Open Bar and Small Business Primer at Shanahan's in Woodridge

To contact us Click HERE

Videoblog: O'Flaherty Law Small Business Seminar

Incorporation and maintenance of your corporate book
Quickbooks
The initial meeting with your accountant
Insurance
How to obtain an EIN (Employer Identification Number)
Contacting the Illinois Department of Revenue for a Tax Identification Number
Dealing with special licenses and regulations that are necessary for your particular business

III. How to make the transition to being an employer

Hiring a payroll service
Dealing with benefits - steering clear of ERISA problems
Obtaining Department of Labor posters
Registering with the Illinois Department of Employment Security & Dealing with Unemployment Insurance
Worker's Compensation insurance
The elements of an employment agreement

Non-compete clause
Confidentiality of trade secrets and other info
Enforcement clause
Probationary period

Creating an employee handbook for systematized and documented expectations and discipline
The importance of termination letters
Considering independent contractors as an alternative

IV. Finding space for your growing enterprise.
If you are a small business owner, please do not hesitate to contact us with any questions you may have, or to set up a free consultation.

"I'm a new business owner -- how many different types of taxes do I need to pay?"

Sales: Does your business sell widgets, or food products? You are responsible for collecting the state (and sometimes local municipality's) Sales and Use Tax and remitting these back to the appropriate taxing agencies. Sales tax rates can range around 7.5% to 10%.
Payroll: Do you have employees? You will be matching your employee's payroll withholding taxes, as well as contributing to federal and state unemployment insurance premiums based on your employees' earned wages.
Franchise: The state of Illinois charges a Franchise tax of 1.5% for corporate business owners. This includes LLC, C-corporations and S-corporations, but not sole-proprietors or unincorporated partnerships.
Income: Similar to sole-propietorships, S-corporations and LLC's are considered "pass-through" entities. In other words the net profits of those businesses "pass-through" to their owners and are taxed at the business-owners' individual tax rates. The income tax returns for S-corps and LLC's generate a K-1 form for each shareholder or LLC member; these are the business owner's equivalents to an employee's W-2 form. However, different from a W-2 which typically already includes income tax withholding, a business owner with net-income from his/her business can either file and pay quarterly estimated taxes throughout the year or pay the lump-sum with the year-end income-tax return.

23 Haziran 2012 Cumartesi

"I'm a new business owner -- how many different types of taxes do I need to pay?"

Sales: Does your business sell widgets, or food products? You are responsible for collecting the state (and sometimes local municipality's) Sales and Use Tax and remitting these back to the appropriate taxing agencies. Sales tax rates can range around 7.5% to 10%.
Payroll: Do you have employees? You will be matching your employee's payroll withholding taxes, as well as contributing to federal and state unemployment insurance premiums based on your employees' earned wages.
Franchise: The state of Illinois charges a Franchise tax of 1.5% for corporate business owners. This includes LLC, C-corporations and S-corporations, but not sole-proprietors or unincorporated partnerships.
Income: Similar to sole-propietorships, S-corporations and LLC's are considered "pass-through" entities. In other words the net profits of those businesses "pass-through" to their owners and are taxed at the business-owners' individual tax rates. The income tax returns for S-corps and LLC's generate a K-1 form for each shareholder or LLC member; these are the business owner's equivalents to an employee's W-2 form. However, different from a W-2 which typically already includes income tax withholding, a business owner with net-income from his/her business can either file and pay quarterly estimated taxes throughout the year or pay the lump-sum with the year-end income-tax return.

Tenants' Rights 101

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Leasing Solar Panels Makes Solar Energy Affordable.

To contact us Click HERE
Summary: Leasing solar panels is an innovative approach to making solar affordable. The high initial cost of solar energy is what stops many homeowners from buying a solar system.

In fact without major assistance from tax credits and rebates, few people can afford solar energy.

So, now instead of buying a solar panel system you can lease it from SolarCity with ZERO money down!

And, the money you save on your electric bill can not only pay for the lease, it can give you additional savings too. WOW!

SolarCity High Performance Solar Panels
Read more about SolarCity and even try their solar calculator to see how much money you can save...continued

Carl Heldmann

Contractors Insurance

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Hi Carl,

Great website. I’m spending a lot of time reading your pages. Thanks for providing the information. I’m emailing you since I have some questions I didn’t find answers to using search.

About my situation: I’ll be doing a remodel on my house in a few months and I’m searching out General contractors to do the work. I recently got a bid for the job by one contractor who has done good work in my local neighborhood so I’m favoring him at the moment.

He included a cost breakdown of the amenities. One of the costs was overhead at 7.2% of the total cost. He explained this is “coverage for items like gasoline, Workmans comp insurance, liability insurance and supplies”.

This “overhead” is cost in addition to his “supervision” costs of 13.9% of the total cost. I’m assuming he is already covered by Workmans comp and liability insurance but he wants his overhead cost covered.

I do need to check on his certificate of insurance and have him explain what “gasoline and supplies” are. Yes, I want my General Contractor to be insured and covered by Workmans comp.

Q1. Is it appropriate for the home owner to pay for the General Contractors costs of Workmans comp insurance and liability insurance?

Q2. If yes to Q1 then how can I figure out the reasonable cost of Workmans comp insurance and liability insurance for a project that will take 2 months to complete? I live in California if that makes any difference.

Q3. If my General Contractor has Workmans comp and liability insurance, then can the subs he hires be covered under his insurance umbrella? Or must his subs carry their own Workmans comp and liability insurance?

Thanks in advance for your time.

Regards, Tom

Hi Tom,

Q1. You are going to pay for a contractor’s insurance one way or the other, whether he tells you about it or not. Insurance is part of a builder’s overhead, as it is part of any company’s overhead.

Q2. You don’t need to figure the cost of either Workmans compensation insurance or General Liability because your contractor has to purchase and pay for all his insurance a year at a time.

Here’s a quote from my Contractors Insurance page:
These commercial policies are paid in advance for a whole year, and can’t be canceled. So, check the dates on the certificate.

All builders have to cover all their overhead as a percentage of every job during the year. If, for example, all my business insurance policies (there’s more than just Liability and WC) total 5,000 per year and I build or remodel 5 jobs, each job would theoretically be responsible for 1/5 of the total.

Your contractor is actually low on his overhead costs for if you read my Cost Estimating page you will see that all builders must constantly juggle costs to balance their cost estimating.

The typical breakdown of cost for a builder, per house, is 25% material, 25% labor, 25% land cost, 12.5% builder profit, & 12.5% builder overhead.

Q3. His subcontractors will actually be contractors working for a General Contractor.

They will provide their own insurance and of course, pass that cost along to the General Contractor . Read Subcontractors Are Not Employees.

I think the most important underlying question you seem to be asking is, can I trust this builder?

He appears to me to be a straight shooter, but you have his references right there in your neighborhood. Check them!

Hope this helps,
Carl Heldmann

Best Home Improvement

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Remodeling your kitchen is the best remodel for increasing home value and the chance of selling your house than any other home improvement.

Besides the added monetary value of kitchen remodeling is the fact that a newly remodeled kitchen is more likely to sell your house than virtually any other home improvement you can make when the selling competition is tough.

Here are the 5 most important items to consider upgrading, and you can do it fairly inexpensively if...continued.
Carl Heldmann

21 Haziran 2012 Perşembe

Trusts and Wills: Which is Right For You?

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Happy Thanksgiving to all of O'Flaherty Law's friends family and clients! While you spend time with your family this holiday season, you may want to think about implementing an estate plan to protect their future well-being. Below is a breakdown of what you need to know about the features of wills and trusts. For a more in depth discussion of the subject, please visit our estate planning resource page or view the below video of our recent estate planning seminar, the remaining portions of which can be viewed on our youtube site.

Consequences of Intestacy (No Estate Plan)

Probate: Probate case must be opened

After opening the probate case with the court, the personal representative takes the following steps:

inventory and collect the decedent's property
pay any debts and taxes
distribute the remaining property to the beneficiaries

Estate is diminished by attorney fees

Heirs do not have immediate access to assets
Bond: Executor must pay surety bond to probate court
Distribution: Assets are distributed according to state intestacy laws

Advantages of a Will over Intestacy

Waiver of Bond: Although estate will still go through probate, the executor’s surety bond can be waived
Distribution: Assets are distributed according to decedent’s wishes
Guardianship: Ability to name a guardian for minor children

Advantages of a Revocable Trust over a Will

Probate Avoidance: Any assets transferred to a trust during your lifetime will avoid probate at death
Diminished attorney Fees
Immediate access to assets
No need to appear in court or obtain court approval for payment of debts, distribution, and termination of the trusts
Disability Planning: A revocable trust allows a trustee to manage a disabled client’s trust assets without the need to resort to guardianship arrangements, which can be expensive
Confidentiality: Unlike a will, a living trust is not filed with the probate court when the client dies. Therefore, the details of the client’s estate plan do not become a part of the public record.
Protection from Renunciation: Under Illinois law, a surviving spouse may renounce a will and elect to take a third of the estate (half if there is no descendant after payment of creditors). Trust assets are not included in the estate for this purposes.
Financial Control: By properly drafting your trust, you can ensure that the assets in question are distributed in a financially responsible manner to your heirs.

Note: Wills DO have some advantages over trusts

Ability to Select a Fiscal Year: The estate can select a fiscal year, while the trust must be a calendar-year taxpayer.
Shortened Claims Period: Probate shortens claims period from two years to six months – For professionals who have personal exposure for their work, probating may be desirable.

Please visit our website for more information and resources or e-mail us at info@oflaherty-law.com with any questions or suggestions for future articles.

March 22: Open Bar and Small Business Primer at Shanahan's in Woodridge

To contact us Click HERE

Videoblog: O'Flaherty Law Small Business Seminar

Incorporation and maintenance of your corporate book
Quickbooks
The initial meeting with your accountant
Insurance
How to obtain an EIN (Employer Identification Number)
Contacting the Illinois Department of Revenue for a Tax Identification Number
Dealing with special licenses and regulations that are necessary for your particular business

III. How to make the transition to being an employer

Hiring a payroll service
Dealing with benefits - steering clear of ERISA problems
Obtaining Department of Labor posters
Registering with the Illinois Department of Employment Security & Dealing with Unemployment Insurance
Worker's Compensation insurance
The elements of an employment agreement

Non-compete clause
Confidentiality of trade secrets and other info
Enforcement clause
Probationary period

Creating an employee handbook for systematized and documented expectations and discipline
The importance of termination letters
Considering independent contractors as an alternative

IV. Finding space for your growing enterprise.
If you are a small business owner, please do not hesitate to contact us with any questions you may have, or to set up a free consultation.

"I'm a new business owner -- how many different types of taxes do I need to pay?"

Sales: Does your business sell widgets, or food products? You are responsible for collecting the state (and sometimes local municipality's) Sales and Use Tax and remitting these back to the appropriate taxing agencies. Sales tax rates can range around 7.5% to 10%.
Payroll: Do you have employees? You will be matching your employee's payroll withholding taxes, as well as contributing to federal and state unemployment insurance premiums based on your employees' earned wages.
Franchise: The state of Illinois charges a Franchise tax of 1.5% for corporate business owners. This includes LLC, C-corporations and S-corporations, but not sole-proprietors or unincorporated partnerships.
Income: Similar to sole-propietorships, S-corporations and LLC's are considered "pass-through" entities. In other words the net profits of those businesses "pass-through" to their owners and are taxed at the business-owners' individual tax rates. The income tax returns for S-corps and LLC's generate a K-1 form for each shareholder or LLC member; these are the business owner's equivalents to an employee's W-2 form. However, different from a W-2 which typically already includes income tax withholding, a business owner with net-income from his/her business can either file and pay quarterly estimated taxes throughout the year or pay the lump-sum with the year-end income-tax return.

Tenants' Rights 101

To contact us Click HERE

19 Haziran 2012 Salı

Mortgage Appraisal | Real Estate Appraisal | Construction Appraisal

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A real estate appraisal or a mortgage appraisal by a licensed real estate appraiser gives you an independent opinion as to the true market value of a home, whether it be an old home, a new home, or even a home you are planning to build

Real estate appraisals are a critical to the housing industry for home buyers, home sellers and mortgage lenders.

Photo courtesy of Benefield Appraisal Service.
All mortgage loans including construction loans, home refinance loans, and home equity loans are called appraisal based loans and the mortgage lender will require...continued

Carl Heldmann

Difficult Building Sites - Mountain Home Building Site

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Hi Carl, I would just like to get your input/insight on the best approach to building on a steep slope. My wife and I bought a 5 acre property on a side of a hill in Colorado.

My guess is that the elevation from the bottom to the top of the hill is about 100-150 feet and the slope varies between 20-30%.

I think I'm going to need a grading plan or topography survey of the plot.

Another potential issue is the amount and size of boulders on the property.

We might have to hire someone to blast/dynamite the area where the foundation will be built. Any advice you could give us would be greatly appreciated, Neil

Hi Neil,

Since you didn’t give me the actual lot dimensions I am going to assume (you know what that spells) that the lot is almost square. That would make each side dimension approximately 468 ft.

Unless I calculated wrong that would mean about a .25 ft drop per running foot.
So, a house with a foundation 30 feet deep would have an approximate difference of 8 feet from the front wall to the back wall. That’s not too bad

You also need to be concerned with sewer/septic availability and their location.

Did you investigate this before you bought the land? I hope so.

If there is sewer, is below your planned building site or above it. If it’s above, you will need a lift station and they only pump just so high.

If a septic system will be needed, did you check with the local municipality as to system requirements, including the location on your lot? A 20-30% grade would probably require an alternate system.

Lots of things to investigate before you can even “locate” or position the house on the lot.

I would consult with a local architect familiar with mountain building, and who knows and can refer you to a local engineer.

An engineer would be the logical person to consult with as to the boulders and location of the house.

Without knowing the size of your boulders, I could not begin to guess what you need to do. Can they be moved? Can you build around them? (See photo below. and no, that’s not me in the photo, definitely not!)

Photo courtesy of Barrett Studio architects in Boulder

You may or may not need a topography survey. For those of you who might be interested, a topographical survey (Topo) is a survey that shows contours, natural and man-made features, and elevation gradients.

You have your work cut out for you, but as usual, most of it is investigation and planning.

Be sure you provide a rugged temporary driveway (see Paving Mountain Driveways on http://www.byoh.com/ ) to your building site. I learned that the hard way.

I have done two mountain houses. They both were challenges but well worth it.

Good luck,
Carl Heldmann

Kitchen Appliances Cost

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Keeping the cost of kitchen appliances lower can lower the total cost of building a house or home remodeling project.

Few people know what appliances cost. Builders can make a model home look great with lower cost appliances.

New home buyers merely notice that the appliances are the current "color of the decade." Today, the current color is stainless.

Today’s modern energy efficient appliances can not only save you money by saving energy, they can help you as an owner/builder control cost overruns...continued.
Carl Heldmann

Ekiden athletes' transfer of high school

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Due to indirect influence of the catastrophic earthquake last March, 10 Ekiden team members who went to one of prestigious high school in the area severely hit by the quack decided to change their school far away from the prefecture, which school was also famous for its tough ekiden team. Ekiden is long distance running by several team members. The original ekiden team won good grade in national ekiden competitions every year, but last year it did not that good due partly to bad physical and mental training condition caused by the quake. Another reason was reportedly resignation of a good coach too.

On the other hand, the association of high school track and field club in the prefecture to which 10 members transferred has to face with a difficult question. They have a national rule to ban transferred students from joining competition as a new team member within six months. The policy of the rule is to prevent schools from correct potential high school athletes unfairly. However, the the rule was not strictly applied in the case where students evacuated from the area hit by the big earthquake in light of a humane perspective. The association committee will make a final decision how to apply the rule to this case.

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I used to be into track and field club in my high school and college days. I feel sympathy to those who evacuated from the area, but I do not think it is good and fair for the school which admitted the students to get too strong due to the contribution by the members.