What is a Mechanic’s lien?

House

What is a Mechanic’s Lien?

If you’re planning a remodel on your home, you may have heard the term “mechanic’s’ lien.” If you haven’t, then it’s time you did.

A mechanic’s lien is a hold against your property that provides contractors and suppliers legal recourse to assure payment for services. So, if a job wraps up but your contractor feels they’re owed for time or material, they may file a claim of mechanic’s lien in your county.

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. Sounds pretty terrible, right? Don’t worry. You can protect yourself from unwarranted liens by selecting your contractor carefully and managing your construction project responsibly. Look over your paperwork, make sure each cost is outlined clearly and paid on time.

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.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

Christina Tompkins Wright
Christinatompkinswright@gmail.com
Berkshire Hathaway HomeServices Hometown, REALTORS
Office: 910-478-2637
Mobile: 910-330-5803
http://www.ChristinaTWright.com

How to Sell Your home in the Winter

selling-your-house

How-To Sell Your Home in Winter

Many think that spring is the hottest selling season, and while this is partially true, winter is also a great time to drop your home on the market. Why? Buyers tend to have more urgency in the winter. A 2015 real estate study found that homes listed in winter sold faster than those listed in spring, and for a higher asking price.

If you’re looking to sell your home this winter, here are a few things you should pay attention to.

Pricing. While proper pricing is always important when listing your home, it’s even more important in a season where the pool of buyers is slimmer—even if they’re more eager to act. Be sure to work with your agent to price at market value in order to avoid sitting until spring.

Safety first. If you live in an area that gets ample snow or ice, make sure to be monitoring the safety of your drive, steps, and walkways. Keep paths shoveled and free of ice to encourage incoming buyers and keep them safe from slips.

Lights on. When someone is coming to look at your home in the winter, be sure to draw back the curtains in the daytime and turn on the lights. You may even need to add additional accent lights to rooms that are naturally dark. Nothing is less appealing than a dark, gloomy home.

Add warmth. Make sure your home is warm and cozy when buyers enter. It’s better to heat the space a degree or two warmer than necessary than to have potential buyers clinging to their coats.

Ambiance appeal. Create a cozy seasonal vibe inside your space by draping snuggly blankets over furniture, lighting a (safe) fire in the fireplace, and keeping the kettle warm in case anyone would like a cup of tea.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

Christina Tompkins Wright
Christinatompkinswright@gmail.com
Berkshire Hathaway HomeServices Hometown, REALTORS
Office: 910-478-2637
Mobile: 910-330-5803
http://www.ChristinaTWright.com