Wife is a realestate agent here in PA. What she tells me at this time
is if you buy new construction you cannot get mechanics lien insurance
from the title company. The insurance companies are not issuing the coverage, due to builders going under. This may be going on in other
states, dont know. But what is happening, wife knows of several cases where the people settled on the house, the next thing you know is that
they get a letter with a lien on the house from some unpaid mechanic.
Not the mechanics fault the builders are not paying them.
Just thought I would pass this along, just in case you know anyone who
intends buy new construction, watch out.
Old Mike
is if you buy new construction you cannot get mechanics lien insurance
from the title company. The insurance companies are not issuing the coverage, due to builders going under. This may be going on in other
states, dont know. But what is happening, wife knows of several cases where the people settled on the house, the next thing you know is that
they get a letter with a lien on the house from some unpaid mechanic.
Not the mechanics fault the builders are not paying them.
Just thought I would pass this along, just in case you know anyone who
intends buy new construction, watch out.
Old Mike