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Latest from Iowa Real Estate & Land Use Blog - Page 5
Best Practices in Commercial Real Estate: Commitment Letter
Commercial Real Estate Loan Documentation Best Practices
PART 1: Commitment Letter
Following credit approval, the formal real estate lending process typically starts with a commitment letter which seeks to establish the primary specific terms and conditions of the proposed financing.
Insurance Appraisers May Determine the Cause of Loss
In a case of first impression, Walnut Creek Townhome Association v. Depositors Insurance Company, the Iowa Supreme Court has held that insurance appraisers may determine the cause of loss in addition to the amount of damage.
Walnut Creek Townhome
Congratulations, Apartment Owners, you May Be Required to Collect Iowa’s New Water Services Excise Tax
This past legislative session, the Iowa legislature created a sales tax exemption for the “sale or furnishing by a water utility of a water service in the state to consumers and users.” Don’t get too excited about this tax exemption,
Eighteen Dickinson Attorneys Selected for 2019 Best Lawyers in America
Dickinson Law is pleased to announce that 18 of the firms’ attorneys have been included in the 2019 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Our attorneys’
Sub-Subcontractor Loses Mechanics’ Lien Rights
A recent decision from the Iowa Court of Appeals highlights a significant trap for contractors working on commercial construction. LM Construction, Inc. v. HGIK Hospitality, LLC, began when property owner HGIK Hospitality (“Property Owner”) hired general contractor DDG Construction
The $5,500 per day Lesson to Learn from I-35 Construction Delay
Last week, KCCI in Des Moines reported that the new off-ramp being constructed on Interstate 35 near Ames must be torn down and rebuilt due to a mistake of “several inches.” As reported, the mistake was human error in the
A Magnified Local Example of Common Problems in Construction
The Cedar Rapids Gazette has published several articles critical of the University of Iowa’s handling of the construction of the new Stead Family Children’s Hospital. The hospital itself is impressive and life-changing; just take a look at ESPN’s segment on
Seller’s Disclosure Statements in Iowa: What is the Big Deal?
Buying a home is the most significant purchase most people will make in their lifetimes. Because of its importance, the Iowa legislature removed the old adage “buyer beware” by enacting a seller’s disclosure law several years ago in Iowa Code
July 1, 2018 Changes to Iowa’s Mechanics’ Lien Law
The Iowa legislature’s recent changes to Iowa’s mechanics’ lien law took effect on July 1, 2018.
Effective on July 1, Iowa Code § 572.3 is repealed. That section provided that any contractor who took any collateral to guaranty payment of