BUPD Law is a law firm located in Chicago, Illinois. The firm has been in business for 42 years. Their practice areas include REAL ESTATE AND CORPORATE SERVICES,LITIGATION,CORPORATE AND BUSINESS COUNSELING.
Good morning! Yes, it is routine practice to request a final sworn statement in exchange for the final payment. If this is a construction loan, there should be a title company involved in the payment process. If you are concerned about handing over the statement without a contemporaneous payment of the funds, you can always deposit the original statement with the title company, as an escrowee, with instructions that they cannot turn the original statemeSee More...See More...
I would let them know that you will deposit the waiver of lien in escrow, and when the funds are put into escrow, the escrowee can disburse the funds to you and give them the original waiver of lien. Make sense?See More...