Hey everyone, JP Moses here with REI tips and REI ology. Over here on this side of me, I have Brian, the Wisconsin guy. Meiyan meiyan meiyan vitam, hey CP, it's like we just met or something. The reality is not only is his name listed above his head in this image, but Brian has been a friend of mine for years. We met a number of years ago at a restaurant in Baltimore, actually. We were both at a Steve Cook event. He is one of my fellow flip VIPs. For those of you who tuned into the Flip Fibs calls, he's also a faculty member at REI ology. He helped us out with the deal evaluation intensive. He does a ton of short sales in the Wisconsin area and also offers transactional funding. You can get all the money you need for your deals at cashformyclosing.com. It's a great deal on transactional funding. The reason I asked Brian here is because he shared a form with a number of us in the Flip Flips the other day. Somebody in our private email group asked for a lien waiver that we could use with contractors. Brian graciously provided the form and I asked if I could add it to my packet of forms. He agreed, so I assumed the sale and asked him to join me on this video to talk about the philosophy behind using a form like this. Before we take a look at the form, let me ask you, Brian, how have you used or how would you use a lien waiver like this in your real estate investing endeavors? Brian: It's a very simple form that I use all the time with my coaching students. I tell them that every time they give a check to a contractor,...
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Lien Waiver Form: What You Should Know
The contractor or subcontractor must obtain a written release from the supplier, contractor or subcontractor prior to work commencing. This form is a binding contract and all contracts must be signed by a person who possesses a valid construction permit issued under applicable laws. F625-035-000 Lien Waiver or Release of Lien form 06-2016. WAIVER OF LIEN BY CONTRACTOR, SUBCONTRACTOR(S) AND SUPPLIER(S), and/or the subcontractor or supplier of a subcontractor is a release and waiver and confirmation of lien, as a condition of entering into a contract with the contractor, subcontractor or supplier. There are two ways to do this. The first and easiest method is to provide the lien release to a subcontractor upon commencement of work. The alternative is to submit a copy of the waiver to the contractor, subcontractor, or supplier prior to commencing work, to confirm that the subcontractor and supplier have signed a release and waiver of lien. An employer must obtain a work release form for each employee and can only perform work on the property when the work is completed and the employee is on the job site.
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