Podcast+Freebies

Our Free documents, tools, and timelines will help you "Rightsize" Your Home and Life

Q: What Should I Know about Mechanics Liens?

A:  A mechanic’s lien is a “hold” against your property that provides contracdeed-transfer-paperworktors and suppliers legal recourse to assure payment for services.  The liens vary from state to state and allow for a cloud on the title of your property and foreclosure action.  Also, if you paid the contractor, but he failed to pay the subcontractors and laborers – who do not have a contract with you – then the workers may file a mechanic’s lien on your home.  This could result in a double payment by you for the same job.  You can protect yourself from unwarranted liens by selecting your contractor carefully and managing your construction project responsibly.  Also, most construction lenders will specify a payment distribution process that involves the securing of lien waivers.  The remodeling contract should address this as well, assuring that the general contractor is responsible for all payments as well as any costs required to remedy lien disputes that may arise.  

Reprinted with permission from RISMedia. ©2016. All rights reserved.

The buying and selling of real estate is likely the biggest financial transaction you will ever make. And, real estate is more than a place to live. It's an investment . You need timely information to make informed decisions. The Rightsizing Blog is packed with insights and give you an edge into all things real estate . The Edge Group Real Estate team is here to help!

Let's Meet

Contact Us

206-276-3289

19221 36th Ave W.  #106
Lynnwood, WA 98036

answers@edgegrouprealestateservices.com

Buyers

Our Listings

Homeowners

All Articles

schedule your free consultation

206-276-3289

206-295-0657

Judy Gratton

Jim Gratton

Dennis Day