Preliens: Estimating Contract Price
Greetings followers! Today we provide another video from our November 20, 2013 Arizona Mechanic’s Lien Law seminar. Today’s video addresses the question:
How do you complete a Prelien if you aren’t sure what will be the total contract price?
In this clip, an attendee asked how to fill out an Arizona Prelien Notice when doing jobs that have an open-ended price/cost. You still need to submit a Prelien within 20 days of the start of the project in order to have the entire project be covered by a mechanic’s lien. This video discusses estimating the total price, and when it may become necessary to supplement the Prelien.
Remember that a correctly completed and served Arizona Prelien Notice is a mandatory requirement to being able to record a mechanic’s lien in Arizona. Mechanic’s liens are an important tool for contractors to have to ensure payment for they work they perform.
If you would like to know more about Arizona’s mechanic’s lien law, you can get a good basic understanding of Arizona Mechanic’s Lien Law and have many of your questions answered by attending one of our inexpensive seminars. At our seminar we address questions about Prelien notices, recording a mechanic’s lien in Arizona, and other related questions concerning contracting and getting paid. Or, if you have a question about a specific project or need legal assistance collecting on a job, feel free to contact us to schedule an initial consultation appointment. You can either call us at 480-222-2225 or you can reach us by email by completing the contact form.