How to Protect Yourself From a Mechanics Lien
Congratulations, you’ve bought your dream home! Now, let’s say that you want to enhance your home and make it your own or you are in need of repairs. There is no time to do it yourself so you hire a contractor. When hiring a contractor, it is very important for you to have a contract in writing, which should be reviewed PRIOR TO SIGNING by an attorney at Leonick Law.
When we review such contracts, we look at a myriad of important factors; is the contractor licensed and insured; are there sub-contractors being utilized and disclosed; is payment required upfront; do you have to pay for the entire job up front, or can a portion be paid upon completion? How are delays handled? Making sure you are protected is what Leonick Law knows best!
It is especially important in the event that the contractor places a mechanics lien on your property. Contractors can place a mechanics lien on your property if there’s a dispute and or discrepancy between yourself and the contractor. Once a contractor places a mechanics lien on the property, that lien is good for one year unless it’s extended. This lien can affect your credit and your ability to refinance or sell your property. You would have to pay that lien off before attempting to refinance or sell.
Make sure any contracts you sign are reviewed by an experienced attorney at Leonick Law so that you avail yourself of the best protection now and in the future.
Leonick Law, P.L.L.C.
TEL: (631) 486-9500