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In every state, contractors can place a lien on your property when they perform work for you. Subcontractors and suppliers, who are not paid by your primary contractor, can use a construction lien to force you to pay again. This is true even if you have already paid your primary contractor in full. Getting a lien on your property may prevent you from selling your house, or in extreme cases, you could be forced into foreclosure to satisfy a lien. Lien laws are complex, vary from state to state and are difficult to fully understand without the assistance of an attorney. Fortunately, protecting yourself is easy: just get your contractors to sign a lien waiver when you pay them. It’s that simple. 1) LienShield creates and completes the forms you need to protect your property. 2) LienShield helps you keep track of your payments so you don’t run out of money before the job is finished. 3) LienShield helps you track progress because contractors tend to be less motivated to finish the job when payments get too far ahead of work.
Video: What's a construction lien anyway?
Video: That guy put a lien on my house!
If you are hiring and paying contractors for work on your property, don’t get surprised by a construction lien. Sign Up Now. |
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