Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 8 years ago,

User Stats

5
Posts
0
Votes
Kylen Rushbrook
  • Danforth, IL
0
Votes |
5
Posts

New Investor, need help mechanics lien disclosure

Kylen Rushbrook
  • Danforth, IL
Posted

Hello BP Community, I'm new here and to real estate investing and am exited to get started! I just have one question for now. 

I am purchasing my first flip and fix propert today and the investor I am working with is a great mentor since he has been a real estate investor for over 50 years. He chose to do this investment deal with me through a bank so I know how to do this in the future without his help. 

He called me last night and mentioned the bank wanted me to write up a mechanics lien disclosure or something of the sort that the seller has to sign before closing. I guess it's  just stating that there are no mechanics liens on the property and if there currently are, the seller will foot the bill when they arise. 

Has anyone done this before or can anyone shine some light on where I can find a free template for something like this?i have been looking around for the past couple hours and haven't found anything, only thing I can find is how to file a mechanics lien which doesn't help me any. The document has to be legally binding in the state of Illinois and I would like it to look professionally made. 

I'll probably have many more questions in the future but for now this is it. 

I'll be sure to introduce myself and my first deal later today!

Thank you for your time and answers!

Loading replies...