Summer Place, an oceanfront condo project in Cherry Grove Beach, SC, had a mechanics lien filed against it. No transactions could close because of this mechanics lien (Seller could not pass "marketable title" because of this, a condition mentioned within our SC contract) May, 2005.
Solution:
The HOA can put up a bond of one and one third the amount of the mechanics lien filed, and this would clear the liens, and the transactions for any units in the project could move forward and close.
Your Myrtle Beach Real Estate Connection, Mirela Monte
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