True Title

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​Construction Disbursing

A construction project includes many contractors, suppliers and vendors; each providing one or more components of what will be a completed structure. Our sister company, Q-Draw, ensures that the work has been performed and the mechanic’s lien waivers collected from the suppliers and contractors, before payment is issued. This protects the owner, the borrower, the builder and the lender from erroneous billings, as well as the unexpected incidents of fraud that unfortunately can and do occur.

Banks lending money on residential or commercial construction projects need to make sure that no intervening liens — in this case, “mechanic’s liens” — are filed against the subject real estate at any point before the borrower pays the loan in full.  Construction disbursing is the process of incrementally paying contractors, sub-contractors and material suppliers to minimize the risk of a contractor filing a lien on the property for non-payment of any amounts due.

True Title and its “sister company,” Q-Draw, Inc., work in concert to perform the construction disbursing role in a stream-lined and efficient manner, and the process really is a “collaboration” between True Title and Q-Draw.

Before authorizing the bank to release loan funds to pay the various contractors on a project, Q-Draw confirms receipt of all “lien waivers” and other documentation to confirm that all persons entitled to payment have been identified and acknowledged by the owner of the property and the “general contractor” in charge of the overall construction project.

By diligently working to identify any-and-all persons entitled to payment for work performed, and then by obtaining the lien waivers and other written documentation, Q-Draw is working on the lender’s behalf to minimize the risk of a mechanic’s lien filing that could slow down the construction project or even undermine the project’s long-term viability.

As each disbursement is made on the projects — disbursements also knows as “draws” — True Title issues a “endorsement” to the lender’s title commitment increasing the amount of title coverage for mechanic’s liens to the full amount of all funds disbursed through the applicable date.

Serving as true partners in the real estate process, we offer the following products & services...

Title Insurance – Residential
Title Insurance – Investor
Title Insurance – Commercial
Title Insurance – Homebuilders
Construction Disbursing
Escrow Settlement Services
1031 Exchange Services

Real Estate Knowledge

  • Top 10 Secrets to Success as a Residential Real Estate Agent in the Spring Market 2021
  • 1031 Exchanges with Delaware Statutory Trusts (DSTs)
  • True Title Adds Protection and Convenience with Earnnest
  • Successes With the Gateway Neighborhood Fund
  • True Title partners with the Gateway Neighborhood Fund
Secure Earnest Funds Desposits

Learn how Trust Funds provides safe and secure transfers of earnest money for buyers and their agents, through the MLS.

 

Contact Us

(314) 727-3000
Fax: (314) 727-3301

Send an Email

Headquarters:
30 North Brentwood
St. Louis, MO 63105

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Experienced Team of Title Professionals
From attorneys with years of experience in all facets of the title insurance industry, to title production and escrow team members well-versed in their respective specialties, you will find it a rewarding (and relaxing) experience working with us here at True Title Company.

Guide to Success in Real Estate

Top 10 Secrets to Success as a Residential Real Estate Agent in the Spring Market 2021

By Karlyn Ankrom

Real estate is a rewarding but challenging career with many moving parts to navigate. This is especially true in the current market, where demand is soaring and lenders are being extra cautious. Here’s how carve out success as a real estate agent in the Spring 2021 Market. Know Your Market.  Knowing your market inside and […]

1031 Exchanges with Delaware Statutory Trusts (DSTs)

By Karlyn Ankrom

a hands-off investment strategy   Especially during this time of uncertainty, many investors are considering more passive investment options. Delaware Statutory Trusts (DSTs) are one lesser-known option for real estate investors wanting to take a more hands-off approach while deferring the capital gains tax associated with selling investment properties. We sat down with Nir Regev […]

earnest money in st. louis

True Title Adds Protection and Convenience with Earnnest

By Cory Edwards

A new way to transfer earnest money! The innovative app Earnnest allows homebuyers to move escrow money safely and securely from anywhere in the world. New Technologies to Smooth Out the Closing Process This moment is unlike any in the history of real estate. The advances of the technological age — combined with the challenges […]

Successes With the Gateway Neighborhood Fund

By Joel Emery

In August, closers at True Title closed 954 sides of real estate transactions, resulting in a donation of $4,770 to promote homeownership in distressed areas of our city. In the City of St. Louis residential lending north of Delmar makes up only 4% of residential loans made across the city.  Decades of discriminatory housing policies and practices […]

True Title Company Proudly Supports

NOTICE: True Title Company, LLC is a title insurance agency authorized/licensed to do the business of (title) insurance in Missouri and Illinois." [This notice provided in compliance with 20 CSR 700-1.025, Missouri Code of State Regulations]
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