Mechanic’s Lien: The four common errors that can prevent you from being paid - by Dillon Nash

Dillon Nash, Speedy Lien

Unlike a fine wine, being owed money in the construction trade does not improve with age. We advise the best strategy is to act and react quickly and aggressively.

Filing a Mechanic’s Lien to protect your financial interest in a construction project can be a “speedy” and painless procedure if you’ve done your homework prior to commencing labor and supplying material.

A Mechanic’s Lien attaches the amount you are owed for materials or services rendered, to the title of the property in question. In other words, it prevents the property owner from selling, transferring title or refinancing said property. For those of you that have a mortgage on your property, your bank has a lien or an interest for the amount borrowed. By filing a Mechanic’s Lien you will have the same interest a bank does against the property in question.

The following are four common errors that can prevent you from being paid:

1. Waiting. When your car develops a flat tire, you don’t wait to see if it improves by itself it doesn’t. When your client is not returning telephone calls or written correspondence acknowledging monies due you; if there is a dispute occurring between various parties pertaining to any aspect of the project; or your client advises they do not have the funds to pay you, by waiting to see the outcome, a check is not going to appear in your mailbox. Never wait.

2. Where. Specifically geared for materialmen, know exactly where the end use of your materials are heading. An exact address, an exact suite or floor in a building, the exact store. Not knowing this information can cost you money.

3. Who. We have clients that have no clue who they dealt with other than a first name and cell phone number. Being owed money by “John” with a (917) number, no company name, no address is almost a guarantee that this is a scam. This blunder can cost you money, your money.

4. Not hiring a professional to represent you. When you’re owed money, seek the seasoned professional, the company with decades of experience, the “name” in the industry, the company that others try to emulate. Speedy Lien.

Call us today and be our next success story!

 Dillon Nash, Vice President of Speedy Lien, Inc., Mineola, N.Y, can be reached at dillonnash@speedylieninc.com