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Updated about 6 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Adam Kecskes
  • Rental Property Investor
  • Austin, TX
2
Votes |
11
Posts

Lien vs Deed of Trust as Collateral in Texas

Adam Kecskes
  • Rental Property Investor
  • Austin, TX
Posted

I'm looking to have a sump pump installed for a drainage problem with a property I have in Texas; they offered to split the bill; half up front, half on a 12 month, zero interest loan. It's not a lot of money per se, but distributing payments over time, for free, is nice.  

The company called me to say they needed me to sign a deed of trust for collateral. Apparently they've been having problems with collecting money from folks, which I get, but I've never heard of having to sign a deed of trust for doing contract work. How common is it to request the deed of trust over filing a lien for lack of payment?

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