"Where to Buy Mechanic's Lien Insurance"

[perryrip]

Dawell0,

Understand. That's the basic understanding that I've come down to here in GA. I'll just have to ensure I have title insurance, lien waivers, and an affidavit from the builder, and hope nothing happens. I doubt if I will have any problems based on this guy's reputation, but I just like to have all of my bases covered. Thanks for your assist on this. I had hoped that Alan or Denise would have addressed this as they specifically mention mechanic's lien insurance as an available product on pages 38 and 39 of their 3rd edition of "Your New House". I wonder where they got the source of their information?

perryrip

[dawell0]

I know that mechanics lien insurance is an available policy in some states; however, I guess that it depends on the state laws. Some are much better than others at protecting the consumer. Trust me, Ohio is not one of them. I wish you luck on the building process. I'm getting ready to go to court or mediation within the next few months and to lose over $20,000 because of incompetence. (At least I was able to stop the guy before he even finished the foundation.)

[perryrip]

Dawell0,

I'm glad I'm not in your shoes! Thanks for all of the input and assist. I wish you the best in your outcome.

perryrip

[jeanlee411]

We got it through our insurance company (Grange insurance) as part of the homeowner's policy. Our lender required it. There is also builder's risk insurance which protects against people stealing from the job site. If you are with a small builder, I certainly recommend it. Even after doing a lot of the checks that the book suggested, we STILL had problems and now we have an attorney trying to straighten the situation out.