Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago, 10/24/2020
Expired Mechanics Lien on Property
Hello everyone,
I have a property I want to get under contract in Indiana for a wholesale deal. The seller is ready to sign, however, there is an old mechanics lien attached to the property and this my first time dealing with a mechanics lien. From what I gather from google searches, a mechanics lien becomes void after 1 year in Indiana if no action is taken, and this specific lien is 6 years old. I've been trying to contact the attorney from the title company I use but he is out of the office until monday. I called a big buyer in the area with much more experience and he said the title company should just look over it since it's so old and it shouldn't scare off experienced investors. Is this correct? Should I move forward with the signing over the weekend or wait until monday to confirm with the lawyer? I want to lock it up as the seller has been back and forth on price, but I also don't want it to bite me in the butt later due to my haste and inexperience. Thanks!