Hi BP community.
I am a relatively new real estate investor, but I have been a full-time attorney (litigator) for almost a decade. I am about to start my first flip, and had done research into what to do if a mechanics lien was filed against my property. This 2-page article was the single best source of information I found, and I wanted to share it with the BP community: www.thsh.com/documents/s-Liens.pdf
It was published in the New York Law Journal, which is basically the daily lawyers' newspaper in NYS, and it sets forth the legal options for the homeowner if a mechanics lien has been filed.
Thank for the link, pretty insightful. Curious to see how your flip has turned out? Long time real estate owner here (but new to RE flipping!) and would love to hear more about how other NYC flippers got their start.
document is no longer at the address you provided. It sounds like a very useful resource. I would love to read it.
Since you're in NY, what are the rules time-wise for a contractor to file a mechanic's lien?
It does come up, since buyer wants stuff fixed for close, seller does it and then stiffs the contractor. At closing title doesn't see a recording or lis pendens, then 89 days (in OR), it shows up.