#122: Construction Loan Disbursement Pitfalls
NH Construction Law
FEBRUARY 25, 2023
A common feature of residential construction loans is the requirement for periodic inspections of the progress of work, usually by an independent inspection company hired by the bank, before disbursements are made. The idea is that the loan disbursements should pay only for properly completed work (or suitably stored materials on site), and the inspector better able than the homeowner/borrower to gauge this.
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