Contractor Needs to Get Paid

[Brianna H.]

Howdy!

Does anyone have any experience with a renovation loan? My contractor completed the work, but the bank is stalling the final payment. They want to see a certificate of occupancy, which I am told only applies for commercial property. They want to see license and workers comp records and remodeling permits. They also want to see a detailed invoice for the work. 

They have already gotten 2 inspectors out there to look at the finished work, so I don't understand why they are dragging their feet? The contractor wants to get his lawyer involved, which I hope wouldn't affect me because they signed the contract with the bank, but this is definitely not good for me in the future. 

I'm just wondering if anyone else has dealt with this. Is there anything I can do or should I just tell my contractor to suck it up and get these documents together?