It's Thaw Time of the Year

14-Mar-2014

It’s that time of the year again when the land begins to thaw and our excavation and foundation clients begin breaking ground – starting the new construction for the year. Based on the preliminary notices we have served already in 2014, this year is off to a great start, and it appears that this spring will be an active building season.

 

We have also been busy serving prelien notices for clients who have worked through the winter on homes in the Spring Parade of Homes. These homes are typically spec and model homes that have not been pre-sold. Many subcontractors and material suppliers find themselves in a pay-when-paid situation on spec and model homes. It is vitally important to manage your lien rights, especially on these properties. If the home is a model home, the developer may not be in a hurry to sell, and a construction lien against the property may be your best security. On the other hand, these properties can change ownership quickly, and your lien will alert closing agents of your interest.

 

The building season is shaping up to be fast and furious. Remember to prelien early and often as you implement your lien management strategies. If you need help developing a lien management strategy to protect your lien rights, give us a call. We are here to help!