Perspective
Sep. 22, 2009
Wait Before You Use That Shovel
Steven Otto of Law Office of Steven Edward Otto says when possible, avoid work on property prior to financing.
FINANCE
Steven Otto If a developer is using secured financing to construct or expand a project, the developer's lender will usually require that a title company issue lien priority coverage (also known as loss of priority coverage) to the lender as part of the lender's policy of title insurance. The requirements for such coverage are relatively straightforward if no work of improvement or site improvement work has been done, but pre-financing comme...For only $95 a month (the price of 2 article purchases)
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