Construction Draw Inspections & Disbursement by Crawford County Title

Construction loans frequently involve procedures like construction draw inspections and title company payments. A construction loan may be needed to finance a project when someone is constructing a new home or making considerable repairs to an existing one. As the project develops, these loans are often disbursed in “draws,” or increments. To make sure that money is allocated properly and that the project is moving forward as intended, a title company frequently participates in managing this process.

How Does The Process Work

The first step in the process is Loan Approval. Once the loan has been approved, a title search is ordered, a construction agreement is drafted, documents are executed and then recorded. The Construction Agreement outlines the responsibilities of the borrower, lender, title agent and general contractor throughout the process.

A Construction Draw Schedule is a pre-defined plan that outlines the stages of construction and when funds will be disbursed. These various stages are frequently tied to specific milestones in the construction process.

Additional Steps in the Process Includes

  • Title company involvement
  • Construction draw inspections
  • Disbursement of funds
  • Collection of lien waivers for each payment
  • Repeat process and more

To learn more, give Crawford Count Title Service, Inc. a call today at 608-326-4690, we’d love to hear from you.

We’d love to hear from you! Contact us today by calling 608-326-4690 to learn more.

Share by: