Contractor Lien Services

Contractors and home builders require a steady flow of cash to continue running their businesses, purchasing materials, and paying staff in order to hit their deadlines. Any kink in the financial hose can cause far-reaching economic impacts that can jeopardize other projects. If you're having trouble getting paid on time you need a partner who can help to get money flowing again.

End-to-End Mechanic's Lien Services for Contractors

My Business Partner Bookkeeping offers a comprehensive end-to-end set of lien services.

One of the best tools that contractors have at their disposal to ensure payment is the ability to apply a mechanics lien to property in order to help retrieve funds when they are held up or are not being paid on time.

What is a Mechanic's Lien?

A mechanic's lien guarantees that you will receive payment for labor or materials on a remodel, repair, construction, or home-building project by encumbering the property until the lien is paid.

The record of the lien will hold up the sale of the property and must be resolved before the property changes hands.

Because a mechanic's lien is considered a public record, it will show up on the title of a home or property. The record of the lien will hold up the sale of the property and must be resolved before the property changes hands.

Many banks and lenders won't even consider refinance an option until a lien has been resolved. This makes it difficult for a property owner to get away with non-payment.

When a mechanic's lien has been filed properly it can be very difficult for a home owner to contest the legitimacy of the lien.

Washington Mechanic's Lien Professionals

Every state is a little bit different when it comes to how a mechanic's lien can be handled. Below is a typical overview of how we work with the lien process established in Washington:

1. When a contractor signs a contract, he has between that date and the start of work to send out a “Notification of Intent to Lien”. This is just a statement showing that the contractor receives the right to lien the property for non-payment. This is usually as far as anything goes.
2. Generally, once the property owner knows there is the potential for a lien, the bill gets paid according to the terms of the contract. If payment is not forthcoming, however, the lien has to be recorded in the county where the work was performed. This prevents the property owner from re-financing, selling, or otherwise disposing of the asset until the lien has been “perfected” or satisfied.
3. Once a lien is filed, there is an 8-month time limit to perfect the lien. If payment is not made, then a lawsuit is generally filed.

My Business Partner has range of professional legal connections and will provide a recommendation from their personal referral network should it be required.