My client is 60 days past due on their account with me on one of there properties that I do work for. This property happens to be my biggest account with the most expenses. They owe me over 40K. According to the people who work there we are not getting paid becacause someone failed to turn in the invoices to the lein holder (aka the bank) who cuts the checks for vendors as well and now we are not getting paid for another 30 days. What I would like to do is speak directly to the bank who is the lein holder and and make sure that these people are not just pulling the wool over my eyes. However, of course, my clients do not wish to release that info to me. I also think that if I advise the bank that I will be contacting my attorney to place a lein on the property for non-payment they may be more apt to go ahead and issue the payment. I tried the appraisal district sites but all the info is from 2006 they sold out this year to the company that I work for. I am desperate at this point.
2007-06-24 12:51:29 · 5 answers · asked by MFPVR 1 in Business & Finance ➔ Renting & Real Estate
I am in the State of Texas and the all I do know is that the bank is in California.
2007-06-24 14:09:23 · update #1
Clerk of court in that county can steer you in the correct direction.
2007-06-24 13:00:10 · answer #1 · answered by thirsty mind 6 · 0⤊ 0⤋
While the lien holder is probably a matter of public record, knowing who they are isn't going to help you. Since banking information is considered confidential they're not going to talk to you anyway.
Someone at the office is blowing smoke on the reason for the delay. Tack your normal interest charges and late fees on and send them the invoice.
If they still fail to pay you can place a mechanic's lien on the property. This won't be an issue for any mortgage holder as they're in a superior position to you anyway; they could honestly care less.
Your only other option is to sue. Only you can decide if it's worth the hassle and the almost certain loss of a customer.
2007-06-24 13:03:11 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
answer differs from state to state and you didn't tell us where this is. :(
In general, the overall construction loan is recorded in the real estate records just like a mortgage. You can usually find at least one of the owners in the chain of back ownership through the tax assessor's records. Then you follow that name, using the property description (also from assessor), through the land records until you find the current owner and the recorded liens -- bingo, one of them (likely the biggest) will be the bank you want.
or you can hire an attorney who'll do about the same, bill you for it, and then suggest filing your own subcontractor's lien.
does this help?
2007-06-24 12:59:11 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
You can determine that by contacting the county in which the property is taxed. It's public information.
2007-06-24 12:59:28 · answer #4 · answered by Alterfemego 7 · 0⤊ 0⤋
Try your local county treasurer's office or register of deeds. One or the other should have lienholder info on it.
2007-06-24 12:56:00 · answer #5 · answered by dachawawa 3 · 0⤊ 0⤋