Construction Loan/Waiver question

[Bob Lett]

We are finishing up a remodel for our STR and have a construction loan for the remodel.

Our contractor is on their 3rd draw and now the title company is requesting full unconditional waivers for each completed line item.

This process is new to me so any insight is greatly appreciated. Happy to provide more information to fill any gaps. Here is a snapshot of last email from title company:

I’m in the middle of a learning curve with my contractor and title company. The issue at hand is the title company is asking for full unconditional waiver for completed line item. This is a construction loan. Here is a snippet:

I have marked up your form to show you what I need. Again, when there is a zero balance a full unconditional is due. A sub, supplier or contractor should be able to give a full unconditional waiver specific to that line item. If they are owed more money for that line you will need to reflect that on your sworn statement by showing what they are owed in the balance to complete.

[Ethan G.]

Thanks!

Originally posted by @Michael H.:

tag bally's user name so she gets credit.

also, In Texas @Ethan G. is the title company guru.