It would also be wise to get a lean release from the person as well as any subcontractors that they use on your job.Good Luck! 

Yup, just like Chris said, hold money in escrow only to be released after agreeable repairs completed. 

The reason U dont want it to go in as EM is it takes all parties to sign off to return your money.. if the wholesaler cant perform and pisses off the seller the seller may just bow their back up and not sign the cancellation and release..

If you have a Authorization to Release or a POA the lender may tell you if you call.

They will not release the final retention of 10% until the project is complete. 

They may decide to buy a house or get a job of high enough quality that they do a background check on them and they need to get the judgment released in order to qualify.  

Had to hire my own attny to have Diamond release me from a fairly draconian agreement.

I don't know the order of payment, but if the old PM still had some of my money (or my tenant's), I'd only pay them part of the cancellation fee and either tell them the rest was coming after they released the money.I'd also tell the tenant who they tried to evict under false pretenses to leave a google review for the PM to warn others.

As a borrower you want to know how a lender will handle the construction loan administration including draws, contingent fund releases etc.,  and you will get a better feel for this if you’re directly communicating as opposed to going through an intermediary.

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