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Podcast: The Real Estate Espresso Podcast
Episode: AMA - Mechanics Liens
Description: Today’s question is actually two listener questions, both of whom have described very similar situations.Â
JR got plat approval and paid a contractor called straight edge for the horizontal development. That work consists of the road paving, and the infrastructure that is buried in the ground. Straight edge went bankrupt and never paid the paving bill. So the Paving company files liens on all lots that aren’t owned by home owners. That’s a total of building 20 lots at $6500 a lot. The total paving bill was $130,000. Fortunately JR is eating the loss and reimbursing the cost to the pa...