Waiver of Lien?
We're having a screen room put on the back of our house. Our in-laws suggested getting a "Waiver of Lien" form from our contractor. Anyone hear of this before? Sounds familiar, but.... Is a "Waiver of Lien" form common now-a-days or is this "old school"? Outside of asking for a copy of the insurance, what else should we ask for in order to protect ourselves? Thanks!
Anybody who works on your property and feels like they were cheated or slighted can file a lien against that property for the amount of the dispute. In Iowa they have 90 days to do so. If they sign a lien waiver they are essentially waiving the right to file a lien. You can not transfer or sell the property until that lien is settled.
Otherwise the banks would make you wait the 90 days before giving you a mortgage on a newly constructed house. They don't want any liens on it.
Removing liens is a hassle but it is done frequently after the misunderstanding with the contractor is settled.
Call your mortgage banker or lawyer for a copy of a lien waiver and use them.
Looking for copy of "This Old House" First Episode
HELP! Home of the Future
HELP-water diffusers instead of gutters
Victim of contractor fraud, Mount Vernon, Wa 98274
- 15 Old House Features We Shouldn't Abandon
- 17 Tiny Bathrooms We Love
- 16 Designs for a Low-Cost DIY Coffee Table
- Insanely Easy 60-Minute Home Improvements
- 12 Sheds You Could Live (or Work) In
- Assembly Required: 15 DIY Kit Homes
- 30 Things Every Adult Should Know How to Do
- 10 Surprisingly Simple Woodworking Projects
- 7 Surprising Other Uses for Mayonnaise
- 9 Ways to Make Your TV Look at Home
- 9 Totally Amazing Mobile Home Makeovers
- 8 Cleaning Mistakes Everyone Makes
- 10 Insanely Creative Shelves You Can DIY
- 10 Bargain Organizers for a Tidy Garage
- 7 Easy Budget-Friendly Backyard Makeovers
- 9 Backyard Fire Pits You Can Afford
- 10 Things You Didn't Know Windex Can Do
- Watch These 10 Home Trends Take Off in 2015
- Surprisingly Simple Woodworking Projects
- 16 Garden Borders You Can Make—Easily!