Can I Foreclose???
I'm post hapy tonight I guess.
Heres my question:
If I file a lien on a property, say 5k for services rendered, can I foreclose on the property? and what would happen to any liens filed after mine?
Thanks
In my opinion (I'm not an attorney) this wouldn't be suitable for a mechanic's lien.
If you had a contract dispute, filed a lawsuit, and were awarded a court judgment, you could attach a lien to the property/real estate.
The lien must be reduced to a judgement. Then you can do a judicial foreclosure. A bit more complex than foreclosing a deed of trust. The owner would be entitle to their homestead exemption ($45,000 in Colorado) payable to sheriff at time of sale. and all other liens subsequent yours would still survive.
I am not an attorney but have foreclosed on a large judgement I had a against a property owner who owned it free and clear.