Legal Question in Real Estate Law in Florida

Mechanics Liens:
I just sold my house to some folks�We have not closed yet�I am trying to iron out the contract�I will be holding a first mortgage of $539,900.00 and a small 2nd for $30,000.00...The second will be paid within the first year...They plan on doing extensive work to the house�A concern of mine is that if they don�t pay one or more of the contractors, the contractors have the ability to put a mechanic�s lien on the property�My question is this�How do I protect myself from this or for that fact any other types of liens�If my wife and I had to foreclose on them and take back the house, do we have to satisfy the liens or are we completely protected because of the fact that we are the first and 2nd mortgage holders�I would be willing to pay somebody to give me a detailed written reply back�I am very concerned about this issue and your help in this matter would be greatly appreciated�
Sincerely,
Tony Bivona
954-331-2261 work

Asked on 8/25/09, 7:45 am

David Slater David P. Slater, Esq.

0 users found helpful

0 attorneys agreed

You can't. Your contract should be worked out before it is signed. What if they do not pay and the work has been done? Have you done a credit check?

Answered on 8/25/09, 8:59 am

Keywords

Match Any Match All

Country

State

Area of Law