Preliminary Notices and Lien Claim Services in Seattle & Washington State
Most of us know that construction in America is built on a credit model. The property owner receives a construction loan to develop or renovate a property. The general contractor and subcontractors provide labor and materials on credit terms by submitting a draw request and then wait 30 to 60 days for payment. Building material suppliers furnish material and equipment on credit terms. At the end of the day, everyone hopes that the project will finish without incident and payment will flow from the lender to the owner to the contractors and then material suppliers.
However, not all construction projects run smoothly. Fortunately, most states provide remedies for the contractors and suppliers by permitting them to record a claim of lien to secure the unpaid invoices. Public agencies permit the same parties to submit a bond or retainage claim to secure unpaid invoices on public projects.
How to Protect Your Lien Rights
In order to take advantage of lien rights, contractors and suppliers must jump through certain hoops before, during and after their work, and that is referred to as perfecting a lien claim. The “before” notices are called preliminary notices. The “during” notices, if required, are referred to as a notice of intent to lien, and the “after work” notices are called lien claims. Sometime later, often a few months, the lien claimant must foreclose their lien claim by filing a lawsuit in court, but more on that later.
Levy ∙ von Beck & Associates has been helping contractors and suppliers perfect their lien rights since 1983 on construction projects in all 50 states. Is 2010 the year that you find out why Levy ∙ von Beck is the preferred vendor of lien perfection services?
Click here to Contact Us. We would be glad to discuss our services and how it differs from lien vendors lien perfection software programs. Don’t be misled into thinking that an inexpensive lien service is offering anything other than a false sense of security as it sends out preliminary notices and/or lien claims.
Before we move on, take this short knowledge test knowledge about job accounts and lien rights and click below: