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It’s not just foreclosed homes that are looking like a bargain to real estate investors in today’s market, but also distressed commercial assets. I.e., are there any subcontractors that have a lien on the project? Bringing a stalled construction project back to life is easier to do if you perform the right due diligence.
When a general contractor or lower tier subcontractor or supplier records a mechanic’s lien attachment on property, security for the lienor’s hoped-for judgment is achieved – but often something more, and perhaps unintended, is achieved. Draws on a construction loan may halt. Consolidated Electrical Distributors Inc.
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