Construction Loan Disbursement
Building the home of your dreams? Canoe Country Title can handle the many aspects involved with regard to closing. From original title services to final closing – we can handle it all. You can enjoy the building of the home, while we can handle the paperwork.
Our Minnesota Title Company and Agents are experienced in handling all types of construction projects from large commercial projects (subdivisions, golf courses, etc.) to home remodeling.
Our Services include:
- General budget oversight
- Payment of construction bills
- Obtaining mechanic lien waivers
- Producing updated project cost reports
- Lien waiver audits/Tract checks
What is a Mechanic’s Lien?
A mechanic’s lien is a document that guarantees payment for contract services or improvement services on a piece of property. If a bill is left unpaid, a contractor can sign a mechanic’s lien which will ensure payment through a court process in which they can receive possession of the property. A mechanic’s lien gives incentive to the the property owner to pay the contractor and is a prerequisite for a foreclosure filing.
What is a Mechanic’s Lien Waiver?
A mechanic’s lien waiver is a document signed by the contractor stating that they have received payment and waive any future lien rights to the property. We at Canoe Country Title prepare and send these documents with the payment to the contractor for their services.