What are Construction Disbursements?
Construction loans (such as a loan for building or renovating a home) includes many risks. Because of this, most lending institutions work with title companies to make disbursements at agreed upon points during the construction process to pay for the work as it’s being done.
What Should Buyers Know About Construction Disbursements?
When building or remodeling a home, the buyer has many details to manage throughout the process. Of course, paying the contractors for the work done is one of those critical details, which is where construction disbursements come into play.
Not only is it a complicated process to request disbursements from the lending institution, each approved disbursement affects the title insurance policy and must be reported to the title company. Guaranty Title Service manages this process for you, making life a little less stressful when building or renovating.
Buying a residential or commercial property? Protect your investment with title insurance.
We offer search packages for recorded instruments that affect the title of a particular property.
This is a brief report summarizing documents that are recorded in the register of deeds and other offices concerning a property.
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