Video Transcription
Today we’re going to talk a little bit about mechanics liens. What are they and why are they valuable for our contractors, suppliers, equipment lessors to help you get paid.
A mechanics lien is a lien that you can record against a project, where you’ve supplied work, labor or materials. If you meet certain prerequisites, right, you will get enforceable mechanics lien. That lien ultimately will allow you to sell property and from that property and that project, collect your money. This is an extremely valuable tool for contractors, subcontractors, suppliers, equipment lessors. You always have your customer who can pay you, but if that customer doesn’t pay, this gives you a second person a second bite at the apple on someone who will have to pay you. Obviously, those owners who own that property don’t want their property be sold. And if you record your mechanics lien and you start the process to foreclose and sell that property, there’s a really good chance you’re going to get paid.
If you want to know more about how we can help you with your mechanics liens, please give me a call.
