View Single Post
  #7 (permalink)  
Old 02-18-2008, 02:34 PM
Rick Hurst's Avatar
Rick Hurst Rick Hurst is offline
Member
 
Join Date: Oct 2003
Location: Rockwall Texas
Posts: 2,584
Re: how does bill to escrow work
I try to avoid "pay at escrow" which basically means they want to pay at closing at the title company.

Most clients want to do this most of the time because their company is picking up the cost of their move. That is always the case with the ones I have worked with.

How I handle it is I still ask the client to pay me with their own personal check which I will agree to hold for 30 days with an handling fee of 75. extra dollars added to the check.

I will then bill the title company for the inspection along with an extra fee of 150.00 which not one client has ever complained of because they know their company is picking up the charges.

I have an agreement that the client signs stating that if I don't receive payment from the title company within 30 days of the inspection, I have the right to cash or deposit the check they gave me at the original inspection.

If I do receive the check from the title company, I then tear the personal check in half and mail it back to the address on the check.

As someone else mentioned if you just wait for the title company to send you a check alone, you'll lose money eventually as the client will back out of the deal due to your report or possible because their financing of the home fell through.
__________________
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Thomas Jefferson
Reply With Quote