No Work Affidavits
A No Work Affidavit is required in connection with a construction loan. Whether the construction project is building on a vacant lot or an existing building which will be renovated, the affidavit states that construction had not started nor building materials delivered at the time the site inspection of the affidavit is performed. The executed No Work Affidavit inspection is generally performed within 24 hours of loan closing and recorded ahead of the construction mortgage. This ensures no material liens can prime or take a first lien position ahead o the construction mortgage and therefore allows the lender to be paid first, ahead of the contractors, subcontractors, or material suppliers if there is a construction-related problem.
RW Krebs & Associates, LLC provides No Work Affidavits in the following locations:
East Baton Rouge Parish, Livingston Parish, Ascension Parish, Tangipahoa Parish – Baton Rouge, Denham Springs, Walker, City of Central, Zachary, Prairieville, Gonzales, and Hammond.