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nunya
Premium,MVM
join:2000-12-23
O Fallon, MO
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reply to alkizmo

Re: Garage addition

Not gonna happen. Nobody (contractor) in their right mind is going to sit and wait for their lien rights to expire before the customer makes the final payment.
Your advice is unrealistic.
I wait until the last minute to file liens (liens are a "last resort"). If someone was holding out on me just to try and ride the lien period, I would file the lien immediately and then make them pay the filing and processing fees to remove it. Theft of services is a big problem these days. There may be a lot of bad contractors, but there are even more bad customers. It's a double edged sword.

All you have to do is ask your contractor for a lien waiver from himself and anyone who worked on the job. Obviously good lien waivers are nullified by cancelled checks or cancelled credit card payments.
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alkizmo

join:2007-06-25
Pierrefonds, QC
kudos:1

said by nunya:

Not gonna happen. Nobody (contractor) in their right mind is going to sit and wait for their lien rights to expire before the customer makes the final payment.

Standard procedure by banks who finance major renovations like this and base their loan/value ratio on the potential value of the property after the project is complete.


Gord

@teksavvy.com

Just remember this is taking place in the US where the Banks don't follow any rules.

Here in Canada they never lend money to people based on what they say they earn hoping it was actually true.

Nice garage by the way. I only wish in the future I can get a lot with enough space to build something similar.



AVD
Respice, Adspice, Prospice
Premium
join:2003-02-06
Onion, NJ
kudos:1
reply to alkizmo

said by [bquote= nunya See Profile :

Not gonna happen. Nobody (contractor) in their right mind is going to sit and wait for their lien rights to expire before the customer makes the final payment.

I think most residential contractors expect payment after final inspection, retainage is quite common in commercial construction, but usually for leverage in warranty issues.
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--Standard disclaimers apply.--
The preceding posting is null and void in Arizona and any other jurisdiction where prohibited by law.