Pay at closing

[Gary Boyet]

Anyone got a good form for pay at close. I seemed to have lost the one I had. I got burned three times before I started using the form and never got burned after, although its been a while, I had the clients sign before two days before inspection sent to title company to insure enough money in escrow was there, in case I "killed" the deal. Any help would be much appreciated

[A.D. Miller]

Anyone got a good form for pay at close. I seemed to have lost the one I had. I got burned three times before I started using the form and never got burned after, although its been a while, I had the clients sign before two days before inspection sent to title company to insure enough money in escrow was there, in case I "killed" the deal. Any help would be much appreciated

GB: Only a fool would work on such a basis.

[Gary Boyet]

Thanks for your opinion but that doesn't help nor provide any value, many inspectors in this market get paid at closing. To pass up money appears foolish to me. You either stay competitive or stay hungry.

[Dan Harris]

Thanks for your opinion but that doesn't help nor provide any value, many inspectors in this market get paid at closing. To pass up money appears foolish to me. You either stay competitive or stay hungry.

I'm with A.D.
Been there done that with getting paid at closing.
I will let the other fool spend his money on doing the inspection, and hope he will get payed. Then he can not only go hungry, he can go broke by spending $s on doing inspections that he may , or may not get payed, when he could of been doing inspections that pay on completion.

[Ted Menelly]

Thanks for your opinion but that doesn't help nor provide any value, many inspectors in this market get paid at closing. To pass up money appears foolish to me. You either stay competitive or stay hungry.


They pay for their car repairs before they get handed their keys. Why should they pay you at closing.


If their car breaks down tomorrow I guaranty they will come up with the money to get their car back.

Thats not competitive.

Why wait 2 weeks to a month or so for your money.

I bet when they buy groceries they pay before they leave the store or the plumber before he leaves or anything for that matter. Also earnest money is paid before the offer to purchase gets accepted.

Everyone gets paid at the time goods or services are handed out. Why not you???????????????

[Jack Feldmann]

You can stay hungry by not getting paid at closing too.

There are two Title companies in Knoxville that I trust and will take payment at closing IF they use one of them. That said, I do everything I can to NOT take payment at closing. I may only do 3 or 4 a year.

A couple months ago I did an inspection, they didn't buy, and I had to fight to get paid. The Realtor ended up paying me and got it back from the client.

One method that I have also tried was to take a credit card number as a deposit, IN CASE something went wrong.

Personally, I think its a very bad practice, and I don't care who else in my area is doing it. But 3 or 4 is less than 1% of my business, so its really not much of an issue. I assume you have a contract that says they are hiring you do to an inspection, and agree to pay you a certain amount. You can always add a clause in there that spells out that if they don't close, they owe you as soon as they back out of the deal.

[Rick Hurst]

I have to agree with everyone. Don't wait till closing to get your money.

Back in the 80's and 90's, it was common for us in the termite inspection business to do WDI reports and deliver them to the title companies with a invoice to be collected at closing.

I can't tell you how many of those I lost out on. The title companies would release all of the buyers earnest money back to them leaving us out in the dry. They told me they had no right to hold my fees out of the funds.

Lesson learned. Pay at the time of the inspection or no report.

rick

[Ron Bibler]

I've been getting paid at the close of escrow for over 30 years. never been burned... You just need to fallow a few steps and your safe.

1. You need to get a copy of the escrow instruction with your company listed as account payable.

2. always get your contract signed by the person ordering the inspection.
If it's an agent all the better.

3. Get escrow to send you conformation that they have your billing.

Do these 3 things and you will never have a problem getting paid.

Best

Ron

[Jim Luttrall]

This has been covered before and is a departure from what the OP was asking for, BUT I still have about $2K owed with money in escrow from 2007. Money in escrow is no guarantee that you will get paid since money in escrow can only be distributed as the buyer and seller agree (or the court). The title company has no sayso and the seller has no reason to allow you to get your money before they get theirs.
I no longer accept payment at closing. Cash, Check or Credit Card at the time of the inspection. No payment, no report.

I accepted payment at closing for many years with little problem but that changed when I relocated from a small town to the big city. There is absolutely no reason to get paid at closing unless the realtors are dictating your business practices.

[Nick Ostrowski]

Since you want to pay me at closing, then I'll assume you don't mind waiting until closing to get your inspection reports. Oh.....what's that? You need the reports ASAP? Then pay me now.

[Scott Murdock]

Anyone got a good form for pay at close. I seemed to have lost the one I had. I got burned three times before I started using the form and never got burned after, although its been a while, I had the clients sign before two days before inspection sent to title company to insure enough money in escrow was there, in case I "killed" the deal. Any help would be much appreciated


Might I recommend you secure the pay at close with a credit card. Write up in your pay at close that to do so you are either payed within 60 days or the credit card will be billed. To protect yourself. Best of both worlds.

[Ron Bibler]

Every one that has been burned has not been listed in the escrow instruction. Escrow can-not give the buyers or the sellers deposited money back if you have escrow instruction that the buyers and sellers have signed to pay you your money. or you can sue the escrow company. I have done this in the past one time that the escrow gave out the funds but did not pay my bill and when I presented the escrow with the instruction they cut my check on the spot...

Best

Ron

[Dan Harris]

Might I recommend you secure the pay at close with a credit card. Write up in your pay at close that to do so you are either payed within 60 days or the credit card will be billed. To protect yourself. Best of both worlds.

I've considered this.
Then figured, wait a min. why not pay me with the CC now, and they can pay the credit card in 30 days, or over serveral years if they choose.

[Scott Murdock]

I've considered this.
Then figured, wait a min. why not pay me with the CC now, and they can pay the credit card in 30 days, or over serveral years if they choose.

It is another way not to say no to business in my opinion. You never know what motivates a person and I try to give the client every reason to say yes to me.

[Gary Boyet]

Pay at closing only happens when the seller is paying closing fees. I have not been burned with closing instructions or agreement. I charge an extra fee to wait, title company has agreed escrow in account and they can not give back to buyer until all bills are paid. I just can't find my agreement. I have been getting paid at closing for many years and as stated lost a few deals before agreement ZERO since.

[Stacey Van Houtan]

I have required a CC to secure a bill to close and the CC was bad at the closing date, I have lost money when they changed title Co.
I always charge $75 and a fee for bill to close and i still lost

I no longer do bill to close, I do know severeral inspectors i small towns that are sucessuful with bill to close and i think it is easiere there..

[Jerry Peck]

Gary,

As you can see, our agreement is that we are in agreement ... no pay at closing.

Thus we do not have a 'pay at closing' agreement.

I agree with all the others - no tickee, no laundry ... no pay, no report.

[Jim Luttrall]

Every one that has been burned has not been listed in the escrow instruction. Escrow can-not give the buyers or the sellers deposited money back if you have escrow instruction that the buyers and sellers have signed to pay you your money. or you can sue the escrow company. I have done this in the past one time that the escrow gave out the funds but did not pay my bill and when I presented the escrow with the instruction they cut my check on the spot...

Best

Ron

Yep, BUT I still have money sitting at the title company since the seller won't sign off for anyone to get the limited amount of money still there. The seller has no motivation to pay the buyers bills when things go south.
How do you get the buyer and seller to sign off and why would you go to that much trouble?

[Matt Fellman]

I generally agree with the others but there are times I'll do it... rarely.

Our policy is $50 fee on top of the inspection + either a credit card number or check (post dated if they like but there really is no such thing). I agree to hold the check for 60 days before cashing it. If it's a CC I run it immediately and then run a credit back to them once I'm paid.

True, they could run from the check but that's pretty much true of any check you take.

[chris mcintyre]

Pay at closing only happens when the seller is paying closing fees.

Which has become the standard in the current housing market.

[Ron Bibler]

Yep, BUT I still have money sitting at the title company since the seller won't sign off for anyone to get the limited amount of money still there. The seller has no motivation to pay the buyers bills when things go south.
How do you get the buyer and seller to sign off and why would you go to that much trouble?

You can set a due date for escrow to pay. not to exceed ? you never want an open excesow account to hold for 5 years:eek:

Best

Ron

[A.D. Miller]

There are two Title companies in Knoxville that I trust

JF: Those are surely some potent drugs you are ingesting. Care to share?


Personally, I think its a very bad practice

JF: Agreed.



I assume you have a contract that says they are hiring you do to an inspection, and agree to pay you a certain amount. You can always add a clause in there that spells out that if they don't close, they owe you as soon as they back out of the deal.

JF: This assumes quite a bit. First that the contract is valid, and second that the attorney fees involved in defending it are less than the fee owed. Yes, you can take it to small claims court - provided that your time is worth nothing, as is the case with anyone who would accept payment at close of escrow.

[Ted Menelly]

You can set a due date for escrow to pay. not to exceed ? you never want an open excesow account to hold for 5 years:eek:

Best

Ron


Why do you want to go to such lengths to get paid??????

Why is it that folks think home inspectors would be any different than a tradesman, car dealership, grocery store etc in getting paid when the goods are delivered or the service rendered.

You cannot tell me that if someone has a home inspection done and signs an agreement to pay at a later date and their car breaks down when they leave you, it gets towed, they pay the tow company, they get their car fixed, they pay for getting their car fixed and then.....and only then do they get their keys back from the owner or manager of the garage or dealership. It more than likely cost much more than the home inspection.

I have been asked countless times to get paid later. I explain I get paid at the time of the inspection. They pull out the cash or check and pay me. Pretty simple.

Now your pest control biz on a monthly or quarterly plan they get billed and mail the check. This is a repeat service on a schedule. Far different than a one time service.

[A.D. Miller]

Why do you want to go to such lengths to get paid??????

TM: It is called desperation. They woke up one morning and realized that the HI money tree did not shake as easily as they had anticipated.


Why is it that folks think home inspectors would be any different than a tradesman, car dealership, grocery store etc in getting paid when the goods are delivered or the service rendered.

TM: Because about 70% of them are better qualified to flip chicken wings than they are to inspect buildings. 90% of them know next to nothing about running their own business.

[Ron Bibler]

TM: It is called desperation. They woke up one morning and realized that the HI money tree did not shake as easily as they had anticipated.



TM: Because about 70% of them are better qualified to flip chicken wings than they are to inspect buildings. 90% of them know next to nothing about running their own business.

Yes A.D.M.

I've been desperate for 30 years...

and I do like chicken...

Fargen Wack Job...

Best

Ron

Ted... Why do you want to go to such lengths to get paid??????

One of my clients the other day was very old on a mobile home. She ask me if I could do that for her... No big deal...

I Always get paid. in 30 years never a problem. because I have a system that works.

1. You need to get a copy of the escrow instruction with your company listed as account payable.

2. always get your contract signed by the person ordering the inspection.
If it's an agent all the better.

3. Get escrow to send you conformation that they have your billing.

[A.D. Miller]

RB: We already know which percentile you inhabit . . .:D

[Don Burbach]

I've also listened to the agent that says, "Don't worry, I'll pay you if you don't get paid'. I graciously say "Gee thanks, but I couldn't accept that". My feeling is that I don't want the agent to be in the middle where he/she may not get paid either. I've been in that situation, and don't feel like wondering if I'll ever get a referral from that agent again...... and I sleep better!

I've also heard the 'Seller is paying the closing costs' line. In the past I have the buyer submit my invoice to the seller and the seller has issued a check at the closing to me, and I refund the time of inspection fee the buyer paid to me after I have my check in hand from the title company.

John Goad put it best in another thread when he said "........ re-inspection..... if you don't value your time, no one else will!". Substitute 're-inspection' with what-ever other business practice you have like billing, chasing escrow companies, false trips when the utilities aren't on, etc.

[Bill Emelander]

Gary,
I try not to accept payment at close but occasionally I do (2-3 times a year).
Send me an email and I'll be happy to send you a copy of the one I use. bill@proedgehi.com.

Bill

[William Brady]

This is a long thread and i did not read all of it however here is my take on this practice. In teaching CE (state approved)to Realtors here in New Mexico I tell them the following.

Our Code of Ethics prevents us from doing it that way. for example I say that they should not put us into a position where we feel that if the inspection does not go well because of something we find then the closing does not happen, and we do not get paid. An inspector might be hesitant or may hold back info that may cause the deal not to close. In essence we are a pay for service business and not a commission based business like realtors. They seem to understand this logic.

Now I don't think anyone would do such a thing however you never know and so I recommend to them that they simply say to there clients to pay the inspector at the time of the inspection. Your situation happened to me as soon as I move to this area and I didn't like it. I am not an accounting firm an it is so much better to Get er Done when you do your work. I would recommend to you that you slowly change your business practice to getting paid right away. It is less complicated. And risky.

One other thing. The pest inspectors do just what you are doing in this area and I hear all the time about issues of not getting paid or a long time to get a check from the closing company. I for one don't want to wait and all this takes is for you to have that conversation with your Realtors. Don' let them control the conversation they are sales people and like to be in charge. No big deal but it's your business not their's.

Good Luck.

[Dan Harris]

Yes A.D.M.

I've been desperate for 30 years...


.

Ron.. If you do a $1000 treatment, do you wait till end of escrow?

What happens if something shows up on the buyers info, and the buyers lender decided to not appove the buyer?
What happens if the selling price of the home does not home does not meet the apprasial, and the buyer walks?
I was always under the impression with one of these things the buyer can get all his money back.

[Ron Bibler]

Ron.. If you do a $1000 treatment, do you wait till end of escrow?

What happens if something shows up on the buyers info, and the buyers lender decided to not appove the buyer?
What happens if the selling price of the home does not home does not meet the apprasial, and the buyer walks?
I was always under the impression with one of these things the buyer can get all his money back.


When escrow is opened. money is deposited into the account. If you are on the escrow instruction and these instruction state that you are to be paid out of these deposited funds. that in a contract with escrow and escrow is now in control of these funds. so even if the escrow fall apart I still get paid because of the contract.

That why I say you must be listed as part of the escrow instruction...

This is not that hard...

Best

Ron

[Jim Hintz]

A.D. said it first and got it right !!! If you like working for free or chasing down a paycheck, then wait till closing. What if the house doesn't close? Buyer's often change their mind once they see your report and then there is no closing. I know firsthand, I have been a licensed Realtor since 1998 and still am. And no, I don't inspect for by R.E. clients just in case you were wondering. :D

[Jim Hintz]

excuse the typo

[A.D. Miller]

A.D. said it first and got it right !!! If you like working for free or chasing down a paycheck, then wait till closing. What if the house doesn't close? Buyer's often change their mind once they see your report and then there is no closing. I know firsthand, I have been a licensed Realtor since 1998 and still am. And no, I don't inspect for by R.E. clients just in case you were wondering. :D

JH: Buyer's remorse is not the only reason sales don't close, as I am sure you know. Loans sometimes do not get approved, titles are sometimes not clear, buyers even expire sometimes before their contract is executed. As others have already said, try this anywhere else - the grocery store, the gas station, the doctor's office, Starbuck's, whatever, and you'll come home empty handed. Just like prospective clients of mine who are waiting for me to accept a fee on a contingency basis.:rolleyes:

[Ron Bibler]

JH: Buyer's remorse is not the only reason sales don't close, as I am sure you know. Loans sometimes do not get approved, titles are sometimes not clear, buyers even expire sometimes before their contract is executed. As others have already said, try this anywhere else - the grocery store, the gas station, the doctor's office, Starbuck's, whatever, and you'll come home empty handed. Just like prospective clients of mine who are waiting for me to accept a fee on a contingency basis.:rolleyes:

A.D..M. Its not the same... But it work for you then your OK.

In 30 years I have never had a problem because of my rules. If you apply these rules you like me me would never have a problem.

1. You need to get a copy of the escrow instruction with your company listed as account payable.

2. always get your contract signed by the person ordering the inspection.
If it's an agent all the better.

3. Get escrow to send you conformation that they have your billing.

Do these 3 things and you will never have a problem getting paid.

Best

Ron

[A.D. Miller]

A.D..M. Its not the same... But it work for you then your OK.

In 30 years I have never had a problem because of my rules. If you apply these rules you lime me would never have a problem.

1. You need to get a copy of the escrow instruction with your company listed as account payable.

2. always get your contract signed by the person ordering the inspection.
If it's an agent all the better.

3. Get escrow to send you conformation that they have your billing.

Do these 3 things and you will never have a problem getting paid.

Best

Ron

RB: Different strokes . . .:)

[Bruce Breedlove]

If you apply these rules you lime me would never have a problem.


Did you just call him a lymie? Why, I had no idea ADM was British!

[Ted Menelly]

Did you just call him a lymie? Why, I had no idea ADM was British!

Miller....I guess he could be. I am thinking he is a lot of things, but a lymie (calm down folks) I am not sure.

[Ron Bibler]

Miller....I guess he could be. I am thinking he is a lot of things, but a lymie (calm down folks) I am not sure.

Now A.D.M. Is going to get all piss-off at me:eek: Sorry A.D.M. I known you don't swing that way...

The 650 BSA Was a very nice bike...

Best

Ron

[Jack Feldmann]

Ron,
Not every State does escrow the same way. Here is TN, they do not have the Escrow Instructions complete when I do the inspection. The termite guy has not been out yet, the appraisal isn't done yet, etc.
Many times the Title Company has not even been selected when I do the inspection. The only transaction that has taken place is my clients have given a deposit check, and it is being held by one of the Real Estate companies.
I can send an invoice to my client and their Realtor, but can't send it to the Title company until close to when they are going to close.

While it may be very easy in CA, it is not as easy in other States.
JF

[imported_John Smith]

Heck no. I do let them pay at the end of the inspection though, instead of when I arrive at the house. Never had a problem with it, no one has even asked for a chance to pay at closing. If they cant afford to pay you when you do the inspection, maybe they really arent in a situation to be buying a house. Oh wait, that was one of the issues with the "housing bubble" wasnt it? People buying houses that couldnt afford them.........

If Im not mistaken, it wasnt the wealthy doing it - it was people looking for hope and change. They hoped they could pay for it and were scraping up change trying to do it.

[Jim Hintz]

Like your new moniker/avatar Bruce !!! :)

[Ron Bibler]

Ron,
Not every State does escrow the same way. Here is TN, they do not have the Escrow Instructions complete when I do the inspection. The termite guy has not been out yet, the appraisal isn't done yet, etc.
Many times the Title Company has not even been selected when I do the inspection. The only transaction that has taken place is my clients have given a deposit check, and it is being held by one of the Real Estate companies.
I can send an invoice to my client and their Realtor, but can't send it to the Title company until close to when they are going to close.

While it may be very easy in CA, it is not as easy in other States.
JF

Thats another ball game bub...

This is a personal contract they are asking for... That a no go with me...

Best

Ron

[Bruce Breedlove]

Like your new moniker/avatar Bruce !!! :)

Thanks. We need more signs like this one in DC.

[Tom Rees]

Ron, Do you do the three things before you do the inspection? I occasionaly do a pay at closing and in 5 years have been burned twice.:D

[Gary Boyet]

Thanks to all, in the 15 years I have been doing home inspections I have been burnt 7 times, pay at closing twice, bad checks three times and credit cards declined twice. Yeah I could have went to small claims court to collect but that cost more in the long run. Unless you take cash only I believe there is always a gamble. This "pay at close" works for me so why should I not take advantage of the business I receive form it. Long ago when I worked for a hotel corporation I had to work 80 hours before I got paid for my services. I don't see this as much different, so for all you guys that think I am a fool, go ahead, I still get paid and I will still accept payment at closing. I am a business man; to me this is part of my business, if it is not part of yours that's your option.

[Ron Bibler]

Ron, Do you do the three things before you do the inspection? I occasionaly do a pay at closing and in 5 years have been burned twice.:D


When they order the inspection If its the agent asking for an escrow payment then thats the time to have the agent impose the instruction on escrow. 99% its the agent asking for this.

Best

Ron

[A.D. Miller]

Yeah I could have went to small claims court

GB: Or, if you had not agreed to be paid at close of escrow, you could have spent the additional funds on a grammar course.:D

[Brian Johnson]

This is absolutely amazing. I have never even heard of this practice. And frankly can't believe it to be true. What I can't believe is that there are some inspectors out there that would choose to work for free, until months later. Have you no self worth? Look I am not trying to pick a fight (cause frankly I see to much negativity on this forum that needs to stop), but this subject hit me pretty hard. I guess because I am uneducated, about it. Why would anybody agree to this? What happens when the deal is killed? About 30% of my home inspections have fallen through throughout the years. It happens in no other industry that I know of. I think if this is common practice then all involved should be getting together, maybe through a state assocociation, to squach this practice. I know of no one inspector in CT. that has ever done this. The worst that has ever happened to me is sending an invoice later because the client forgot their check book. I guess this just shows you how different parts of the country can do things so differently. I hope you guys can get rid of this practice and get paid when the services you provide are rendered. It is the right thing to do. Dont be afraid. Just saying.

[Bruce Breedlove]

I hope you guys can get rid of this practice and get paid when the services you provide are rendered. It is the right thing to do. Dont be afraid. Just saying.

Brian,

What does the "Just saying." part of your post mean? I see and hear it used by folks up North, mainly in the NYC area. I have never understood what it means or what it adds.

[William Brady]

Mr Breedlove what a rude piece of work you are have you nothing better to do than make yourself feel superior to others. You know what that comment means and I think most other do also. Takes all kinds I guess. Just saying.

[Bruce Breedlove]

Mr Breedlove what a rude piece of work you are have you nothing better to do than make yourself feel superior to others. You know what that comment means and I think most other do also. Takes all kinds I guess. Just saying.

I guess.

[Ted Menelly]

Brian,

What does the "Just saying." part of your post mean? I see and hear it used by folks up North, mainly in the NYC area. I have never understood what it means or what it adds.

Adding his 2 cents

Voicing his opinion

For what ever it's worth

Just venting

I don't get it

Why would anyone do this

Everyone else gets paid at time of service

Pick any of those. It could mean about anything depending on the topic of discussion.

[Kevin Luce]

Wow, Gary asks a simple question and some get really upset about it.

To each their own. If somebody wants to charge $99 for a home inspection, good for him if he feels that's all he needs to charge. I hope it accomplishes what he sets out to do. If a home inspector agrees to delay payment till closing, OK, it's his business.

A lot of fear is written here and it makes me wonder.

What ever happened to those that claimed taking pictures of the house/problems during the home inspection was going to lead to lawsuits? The response was about the same as these off topic responses are.

It will be interesting to hear what some home inspectors are fearful of when 2015 comes around.

O-well, I have a home inspection to go to.

[Ted Menelly]

Wow, Gary asks a simple question and some get really upset about it.

To each their own. If somebody wants to charge $99 for a home inspection, good for him if he feels that's all he needs to charge. I hope it accomplishes what he sets out to do. If a home inspector agrees to delay payment till closing, OK, it's his business.

A lot of fear is written here and it makes me wonder.

What ever happened to those that claimed taking pictures of the house/problems during the home inspection was going to lead to lawsuits? The response was about the same as these off topic responses are.

It will be interesting to hear what some home inspectors are fearful of when 2015 comes around.

O-well, I have a home inspection to go to.


That's funny

I know a guy that took 150 to 200 pics on homes with little to nothing wrong with them and even tho there was so little wrong he got bagged a few times because later review showed items that should have been written that were not. He always forwarded all pictures to the buyers. Again it was pretty funny considering the topic of conversation.

What was that terminology above... Just saying

The 99.00 inspector.......Should be shot between the eyes:eek: :cool: :rolleyes: :confused: :D

[Bruce Breedlove]

Pick any of those. It could mean about anything depending on the topic of discussion.

That's what I figured, Ted. I know it's a regional thing, much like Canadians say "eh?". I'd bet most times they don't know they are saying/writing it. I was just curious about it, not trying to be rude or stir anything up.

[Ted Menelly]

That's what I figured, Ted. I know it's a regional thing, much like Canadians say "eh?". I'd bet most times they don't know they are saying/writing it. I was just curious about it, not trying to be rude or stir anything up.

Yeah know what I mean????

Is about the greatest "just saying" phrase ever. Yeah know what I mean?

Or after anything is said. This is a great North East saying (I lived there for 36 years) "Get the heck or **** ahta here"

Or "Your kidding me, right!"

Or " No sahhhh!"

[A.D. Miller]

not trying to be rude or stir anything up.

BB: I suppose not . . .:D

[Nick Ostrowski]

Fugedahboutit!!

[Ted Menelly]

Fugedahboutit!!

The man said while caving the other mans face in. Nothing personal! Just business! :D

[Nathan Thornberry]

If anyone is interested in offering Escrow Billing the right way (meaning, you always get paid, and can even get paid up front- not kidding)- then open your minds and join me Monday at 8 PM EDT:

http://www.icontact-archive.com/DVyT1yqeTb2-r2PVOc4-fTXsv8mRT680?w=2

It's going to be a lot of fun. Bring your tough questions, and even for those of you that will never bill to closing- this will be good.

[Garry Blankenship]

"Closing" is and can be a very convoluted process. Too many parties and possibilities involved. It makes no sense to become another player in the process. Waiting until an associated divorce is settled before you get your money would be an entirely different matter ;)

[Nathan Thornberry]

"Closing" is and can be a very convoluted process. Too many parties and possibilities involved. It makes no sense to become another player in the process. Waiting until an associated divorce is settled before you get your money would be an entirely different matter ;)

Most inspectors think along these lines- the solution exists, it works, but who needs solutions and wants to give clients what they're looking for when we can just hypothesize about potential issues and disregard good information? Lol

[Garry Blankenship]

Most inspectors think along these lines- the solution exists, it works, but who needs solutions and wants to give clients what they're looking for when we can just hypothesize about potential issues and disregard good information? Lol

OK Nate. I'm a client. What I need is interest free financing for one year, ( no payments until the year 2014 ! ). After all Nate does it, why won't you ? This is what banks and loan sharks do. What happens when the "Closing" goes South ? An added fee for financing the job, ( waiting until closed ), might be worth considering. You are not waiting for closing; you are waiting for the deal to be closed and funded. There can be a difference.

[Nathan Thornberry]

OK Nate. I'm a client. What I need is interest free financing for one year, ( no payments until the year 2014 ! ). After all Nate does it, why won't you ? This is what banks and loan sharks do. What happens when the "Closing" goes South ? An added fee for financing the job, ( waiting until closed ), might be worth considering. You are not waiting for closing; you are waiting for the deal to be closed and funded. There can be a difference.

What if I said I was willing to guarantee payment?

[Jim Luttrall]

This sounds like a solution for a problem that does not exist.
I changed my practice of accepting delayed payment following the sub-prime meltdown and have never missed one inspection because of requiring payment at the time of inspection.

If the buyer is qualified to purchase a house, they can afford my fee.
The only fees I ever lost were because the buyers were not qualified to purchase and the deal fell through.
No need to find a solution, just ask for payment before they get the report, simple.

[Nathan Thornberry]

This sounds like a solution for a problem that does not exist.
I changed my practice of accepting delayed payment following the sub-prime meltdown and have never missed one inspection because of requiring payment at the time of inspection.

If the buyer is qualified to purchase a house, they can afford my fee.
The only fees I ever lost were because the buyers were not qualified to purchase and the deal fell through.
No need to find a solution, just ask for payment before they get the report, simple.

Just hit 100 registrants. I guess it might be a problem that exists for some, maybe not for you.

How do you know that clients that don't use you don't want this? Just a guess, or is it based on feedback from other inspector's clients?

[Jim Luttrall]

Spoken like a true salesman :rolleyes:

Just feed back from my clients, realtors, friends and family.

As you know, I don't speak to other inspectors clients.
Of course if they can't afford to pay for the inspection then they won't be using me anyway, they will be using one of the $199 guys that are your real audience.
I also don't buy yellow page ads, website optimizations, phone book covers, title company folders, etc., etc.

[Nathan Thornberry]

Spoken like a true salesman :rolleyes:

Just feed back from my clients, realtors, friends and family.

As you know, I don't speak to other inspectors clients.
Of course if they can't afford to pay for the inspection then they won't be using me anyway, they will be using one of the $199 guys that are your real audience.
I also don't buy yellow page ads, website optimizations, phone book covers, title company folders, etc., etc.


Classic. If it's not for you, it must be for those cheap, incompetent inspectors that charge little and are worth little. Kind of naive, most of my clients are on the high end, but think what you will.

I will absolutely agree with you on yellow page ads, title company folders, and phone book covers. Spot on!

[Ken Rowe]

Great, another vender arguing with inspectors. A little free advise for you Nate to help you grow your business. Don't argue with potential clients on an open forum full of potential clients.

If you want to advertise your business, start a new thread. Don't hijack someone else's.

[Nathan Thornberry]

Great, another vender arguing with inspectors. A little free advise for you Nate to help you grow your business. Don't argue with potential clients on an open forum full of potential clients.

If you want to advertise your business, start a new thread. Don't hijack someone else's.

I've not insulted, argued, or any such thing. I'm not even selling anything!

If that's how you've taken it, I'll be happy to apologize to you personally. Just call 800-544-8156 when you're not busy because I'd hate to catch you in the middle of an inspection.

But this is a forum. A message board- voice your opinions, make suggestions, be downright stubborn if you'd like. It's your right as much as anyone's (including vendors) to participate in any way you see fit! We can disagree, can we not?

[Ken Rowe]

I've not insulted, argued, or any such thing. I'm not even selling anything!

If that's how you've taken it, I'll be happy to apologize to you personally. Just call 800-544-8156 when you're not busy because I'd hate to catch you in the middle of an inspection.

But this is a forum. A message board- voice your opinions, make suggestions, be downright stubborn if you'd like. It's your right as much as anyone's (including vendors) to participate in any way you see fit! We can disagree, can we not?

I guess you don't consider calling someone naive is insulting. We were definitely raised by different parents. So this recall check and alarm leads program is totally free, huh, you're not advertising your services at the end of all of your posts? Can't be totally free for everyone if you make money doing it...somebody always has to pay.

You can say anything you want on here, it really doesn't matter to me. If you choose not to follow my advise to you, "don't piss off your potential clients" I guess that doesn't matter to me either.

But in my experience its always better to be nice to people when you're trying to sell them something they don't really need.

[Steven Turetsky]

SL101.1 clearly states that I am not permitted to release a report unless the balance is paid in full. In all of my agreements in BIG BOLD LETTERS it informs my clients of such (immediately above their signature.

I don't get my jobs by being the cheapest guy in town, nor by waiting (and hoping) to get paid. If I lose a job that way... so be it. Hasn't happen yet.

[Nathan Thornberry]

SL101.1 clearly states that I am not permitted to release a report unless the balance is paid in full. In all of my agreements in BIG BOLD LETTERS it informs my clients of such (immediately above their signature.

I don't get my jobs by being the cheapest guy in town, nor by waiting (and hoping) to get paid. If I lose a job that way... so be it. Hasn't happen yet.

Do you have a link to SL 101.1? I'm having trouble locating it.

[Scott Patterson]

Do you have a link to SL 101.1? I'm having trouble locating it.

It goes back to the inspection fee being contingent upon the closing of the home. It is to keep the inspectors a complete third party and not dependent on anyone for the payment of their fee. If is common in many states laws and is usually buried under a section called "contingent fees" or something like that.

I just do not like the idea of a third party collecting fees when there is no reason for that fee to be collected at closing anyway. If a service is provided then the fee for that service should be collected at the time the service is tendered. Kind of like getting a haircut(Yes, I know about that :) )... you do not pay the barber a few weeks later for it, you pay when it is done.

[Dan Harris]

I guess you don't consider calling someone naive is insulting. We were definitely raised by different parents. So this recall check and alarm leads program is totally free, huh, you're not advertising your services at the end of all of your posts? Can't be totally free for everyone if you make money doing it...somebody always has to pay.

You can say anything you want on here, it really doesn't matter to me. If you choose not to follow my advise to you, "don't piss off your potential clients" I guess that doesn't matter to me either.

But in my experience its always better to be nice to people when you're trying to sell them something they don't really need.

Resond to a two year post then start the name calling if you don't agree.
This guy kinda reminds me of actions by another vender that posts/ advertizes here when questioned about the creditabilty of his products.:D

[Nathan Thornberry]

It goes back to the inspection fee being contingent upon the closing of the home. It is to keep the inspectors a complete third party and not dependent on anyone for the payment of their fee. If is common in many states laws and is usually buried under a section called "contingent fees" or something like that.

I just do not like the idea of a third party collecting fees when there is no reason for that fee to be collected at closing anyway. If a service is provided then the fee for that service should be collected at the time the service is tendered. Kind of like getting a haircut(Yes, I know about that :) )... you do not pay the barber a few weeks later for it, you pay when it is done.


Totally agree with you, that's why I'm not suggesting the fee be contingent upon closing. Even though I'm sure none of the inspectors I know would ever change the way they inspect, I can see where the potential appearance of a conflict might come in. Glad to hear there's a law about that in places, I was just looking for the law cited to check it out.

Great conversation. (for the most part :))

P.S. Anyone who wants to actually read what I said, feel free. Saying a statement is in err is not the same as insulting anyone, that's silly and it's just one of these message board detours that don't really contribute to the conversation. Like I said before, happy to admit when I'm wrong, but you're alluding to a statement that differs from my actual statement greatly- both in content and intent. Where I come from, a spirited debate is welcome! Oh, and I'm not selling anything! Geez. When have I once referenced checking for recalls or offering warranties in this thread?

[Garry Blankenship]

What if I said I was willing to guarantee payment?

I'm willing to guarantee you $ 5.00 for your quoted post above. If I renig, regardless of my reason or circumstances, are you willing to spend the time, ( time is money ? ), and the resources to pursue payment ? Same principle applies with $ 400.00. How much more would one have to spend to get their money via legal means, ( small claims court, hire a lawyer ) ? Also; the inspection uncovers $ 20K in necessary repairs, ( call it termite damage / infestation ). No compromise is reached over the "problem". The deal never actually gets to "closing", but the inspection is done. So an inspector would have to rely on this "guarantee" ? The buyer now has to pay more for a deal they have already lost out on. Inspectors inspect and banks finance.

[Nathan Thornberry]

I'm willing to guarantee you $ 5.00 for your quoted post above. If I renig, regardless of my reason or circumstances, are you willing to spend the time, ( time is money ? ), and the resources to pursue payment ? Same principle applies with $ 400.00. How much more would one have to spend to get their money via legal means, ( small claims court, hire a lawyer ) ? Also; the inspection uncovers $ 20K in necessary repairs, ( call it termite damage / infestation ). No compromise is reached over the "problem". The deal never actually gets to "closing", but the inspection is done. So an inspector would have to rely on this "guarantee" ? The buyer now has to pay more for a deal they have already lost out on. Inspectors inspect and banks finance.

Let's make it a real circumstance:

You do an inspection. You get paid. Deal closes or doesn't, home inspection reveals what it's going to, but as far as the home buyer is concerned the home inspection is billed to closing. Closing happens or doesn't- but it's not your problem. Client is responsible for payment ultimately, but if they fail to pay you still got paid for your inspection.

See what I'm getting at?

[Garry Blankenship]

Let's make it a real circumstance:

You do an inspection. You get paid. Deal closes or doesn't, home inspection reveals what it's going to, but as far as the home buyer is concerned the home inspection is billed to closing. Closing happens or doesn't- but it's not your problem. Client is responsible for payment ultimately, but if they fail to pay you still got paid for your inspection.

See what I'm getting at?

No; now I am intrigued. How do "you get paid" and still have your fee billed to closing ? And - - - how do you still get paid, if the client fails to pay ?

[Nathan Thornberry]

No; now I am intrigued. How do "you get paid" and still have your fee billed to closing ? And - - - how do you still get paid, if the client fails to pay ?

It takes a little while to explain, but it's very much real, it's very much just as interesting as you indicated, and I'm doing a webinar on it monday. If you can't make it, we'll do another soon. But yes, all of that is very doable.

[Nick Ostrowski]

No payment, no reports. Collect payment at time of inspection. Problem solved.

[Ken Rowe]

I'm pretty sure it works like this.

A client calls us to schedule the inspection and wants it billed to closing. We contact the service provider (Nate's company) and give them the required information. We perform the inspection and are paid by the service company. Probably by a check in the mail sometime after the inspection but maybe by direct deposit. The service company then invoices the title company and ads their fee to the inspection price. When the sale closes the closer cuts a check to the service company. If it doesn't close the service company invoices our client and if they don't pay they send it to collections.

Let me know if I'm wrong Nate.

[Steven Turetsky]

SL 101.1 (Steve's Law) is a law that I wrote.
Anybody is welcome to use it... or write your own.

Do whatever you want. It's your horse.

[Nathan Thornberry]

SL 101.1 (Steve's Law) is a law that I wrote.
Anybody is welcome to use it... or write your own.

Do whatever you want. It's your horse.

That is awesome. You had me searching New York Administrative Code hard and I couldn't find it! Creativity points +

[Nathan Thornberry]

I'm pretty sure it works like this.

A client calls us to schedule the inspection and wants it billed to closing. We contact the service provider (Nate's company) and give them the required information. We perform the inspection and are paid by the service company. Probably by a check in the mail sometime after the inspection but maybe by direct deposit. The service company then invoices the title company and ads their fee to the inspection price. When the sale closes the closer cuts a check to the service company. If it doesn't close the service company invoices our client and if they don't pay they send it to collections.

Let me know if I'm wrong Nate.

Pretty close Ken, only a bit of icing for that cake....

It doesn't have to be me that is the funding source, I'm happy to be that source but I'm going to show you how to get it done by alternative means.

But you told me to tell you if you were wrong, and you're not...but as of Monday night, I would guesstimate somewhere around 300 inspectors are going to have this option built into their business painlessly.

Which brings us back to the original post...Does anyone have a form for this? Yes, I'll be giving you my form- however you decide to use it- for attending Monday. Is it a good idea to bill to closing? Not if you can avoid it, but if the client prefers it why not...as long as you are guaranteed to be paid every dime. Bonus if you're paid within a couple days of the inspection.

If anyone sees a downside, email it to me so I can address during the presentation- Nathan@NathanThornberry.com.

[Steven Turetsky]

Is it a good idea to bill to closing? Not if you can avoid it, but if the client prefers it why not...as long as you are guaranteed to be paid every dime. Bonus if you're paid within a couple days of the inspection.

Your statement says it all (almost).

When you state a "bonus", are you referring to a discount? Since most inspections would pay at the time of service, are you suggesting giving this "bonus" to all? That would be the same as lowering the fee. Or do you suggest only informing those that request to pay later about the available "bonus"? That would be dishonest.

Just by reading this thread, the whole idea (and process) of getting paid at closing is just too invloved, and I don't see an upside. Get paid when service is rendered (prior to report being released). Plain and simple.

If it is not broke, don't fix it.

[Nathan Thornberry]

Your statement says it all (almost).

When you state a "bonus", are you referring to a discount? Since most inspections would pay at the time of service, are you suggesting giving this "bonus" to all? That would be the same as lowering the fee. Or do you suggest only informing those that request to pay later about the available "bonus"? That would be dishonest.

Just by reading this thread, the whole idea (and process) of getting paid at closing is just too invloved, and I don't see an upside. Get paid when service is rendered (prior to report being released). Plain and simple.

If it is not broke, don't fix it.

Read it again. There is no discount suggested. I said "bonus" as in finding a hundred dollar bill in the couch- "bonus" or "awesome".

[Steven Turetsky]

Read it again. There is no discount suggested. I said "bonus" as in finding a hundred dollar bill in the couch- "bonus" or "awesome".

Please explain yourself.

[Nathan Thornberry]

Please explain yourself.

Well, I'm 5'6", 'bout 170 lbs, 31years old, pretty nice guy overall despite anything my wife says.

[Scott Patterson]

I just do not see any advantage or upside to offer a payment at closing option. It does not do anything for my bottom profit line but to complicate the overall process. I'm not missing out on inspections because I do not offer it.

I have been at this gig since 1995 and I can't recall the last time a client wanted to pay at closing. Sure I have had them ask, but as soon as I tell them that payment is due before a report is issued it becomes a non-issue.

[Ken Rowe]

Sounds a little like loan-sharking.

[Anthony Hubbert]

It's strange about this post because, just last week I had the same offer from a buyer. So I decide to get the facts from the title company There are 3 local title companies here, and this was the response I got:


Title company A- They told me, "I should not do this because if the buyer do not close, you do not get paid. And it will be a hassle to recover your money. Regardless if you send a invoice to us.
Title company B- They said " if you trust the agent and have a good business connection and they refer you a lot business, then do it. But, in the same conversation. He said, " If the escrow money do not say funds for inspection" you will not get paid. Then the money needs to come from who hired you. (THE BUYER)
Title company C- If the buyer cannot pay for a home inspection, they don't need to buying a $150,000 house. Especially, if there mortgage paymnet is $1200 a month. (you do the math)In the end, I never did it. And I don't plan on starting

[Steven Turetsky]

Never say never.

I am not saying that there could not be a situation where I would not agree to get paid at closing. Other than the possibility of some type of industrial complex, or something else rather large, and I assure you the wait (and the cost of the wait) would be factored into the fee.

I work very hard and wear alot of hats, I don't need the additional work collecting. It can be a job in itself.

As much as I love doing what I do, there are at least 2 ways that I would simply rather not do the job.

1. By being (and advertising to be) the cheapest guy in town. I saw that once... a flyer that stated to be the "Cheapest Home Inspection".

2. By begging for the job by offering to wait (who knows how long?) to get paid.

BUT... If it's your horse you ride it your way.

[nick alati]

I call my form VISA, I ask for a Card number to place on file if I'm not Paid (and Closing date), easy to run the card for the extra $75 I charge to hole till COE

[Nathan Thornberry]

I call my form VISA, I ask for a Card number to place on file if I'm not Paid (and Closing date), easy to run the card for the extra $75 I charge to hole till COE


/\
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(Smart Guy)

[Ken Rowe]

/\
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(Smart Guy)

Not really. Just because you get a credit card number doesn't mean the transaction will be approved.

[Garry Sorrells]

It takes a little while to explain, but it's very much real, it's very much just as interesting as you indicated, and I'm doing a webinar on it monday. If you can't make it, we'll do another soon. But yes, all of that is very doable.


I would question your approach if you can not present the business model in a few well chosen words. If Ken can do it in post # 83 why is it you could not? A business model should be able to be explained in 20 words or less, if it has merit.

I also wounder why you would be interested in the agreements that others are using. If you have a system, it should have a set of agreements designed for it already and not need revising. Agreements that offer the level of protection that is required.

Just sounds like a system to sell your account receivables to another party. Hospitals so it, but on their non collectable accounts and with a large discount for the paper.

Just some thoughts, not looking for an argument.

[Nathan Thornberry]

Got all the forms back from the attorney this morning, call Mike Doerr at 1-800-544-8156 to enroll.

You get to use our forms for your own purposes, or you can request funding from us- that simple. Our system ensures a very high rate of collection, for those of you that missed the webinar, it was outstanding. We had over 90% of the participants enroll, and you will start seeing escrow billing options on inspector sites.

WE FUND INSPECTIONS WITHIN 48 HOURS, we handle collections and processing, and we provide the forms. Inspectors that utilize any of our services are eligible for a completely non-recourse agreement- in other words, we pay them and if we don't get paid we never ask them for a dime (assuming no fraud transpired).

[Ted Menelly]

Got all the forms back from the attorney this morning, call Mike Doerr at 1-800-544-8156 to enroll.

You get to use our forms for your own purposes, or you can request funding from us- that simple. Our system ensures a very high rate of collection, for those of you that missed the webinar, it was outstanding. We had over 90% of the participants enroll, and you will start seeing escrow billing options on inspector sites.

WE FUND INSPECTIONS WITHIN 48 HOURS, we handle collections and processing, and we provide the forms. Inspectors that utilize any of our services are eligible for a completely non-recourse agreement- in other words, we pay them and if we don't get paid we never ask them for a dime (assuming no fraud transpired).

Sorry folks

All sounds absolutely rediculous. Why would anyone even dream of wanting to go into the business of getting paid sometime after the inspection. More tracking and book work. More dead beats to have to \correct.

Think about it for one minute before you respond.

If you have no money in your pocket for an inspopection fee......why the hell would an inspector want to go to all the extra effort to collect from someone that should not be buying a home if they cannot even afford the inspection fee at the time of the inspection

Why the heck would anyone want to start a business unlike any service business or profession as in getting paid sometime later.

Why would an inspector want the word getting around that 50 out of 100 inspectors will collect the fee afterward instead of at the time of the inspection.

Put things right again and all of you that signed up for this collect after business drop it, before it gets out of control.

If their car breaks down in the morning I bet anything that they will suddenly come up with the money for the tow and repair even if they had no money to spend for a home inspection the afternoon before.

Geeeeees


The client pays at the time of the inspection, period. If they cannot then you should be thinking about a business model you are trying to create. Create a business model for those that cannot pay the cost of a flat tire replacement

[Rick Cantrell]

Guys, give em a break.
He's just has another service you can offer your customers.
Yeah, cash now is better, but some of you do accept CC, checks, get paid AFTER the inspection.

[Nathan Thornberry]

If anyone goes easy on me, life will cease to be fun! Have at it!

It's funny to me that I will make a post that says in so many words "you get paid 100% of your inspection fee immediately, I'll wait to get paid until closing and handle the entire process" and the response posts all point to the risk of not getting paid, or that waiting to get paid isn't their policy, or how it's a hassle...

I feel like I'm in crazy town! Did anyone actually read the post before responding, or do you just take your preconceived notions based on the thread title and start typing?

It's cool if you just don't want to mess with it, frankly there's no marketing advantage to the inspectors that offer escrow billing if there aren't at least a few inspectors in the marketplace unwilling to offer it, and if you just use my forms and processes there's nothing in it for me but i just don't see why the replies don't match the content of what's quoted.

[Matt Fellman]

Not really. Just because you get a credit card number doesn't mean the transaction will be approved.

Taking it a step further, just because it gets approved there's no guarentee the client won't just dispute the charge. I take VISA/MC but it's a love/hate relationship, for sure.

The consumer has all the power. One phone call and your bank will swipe the money out of your account in a flash. Then you're pretty much back to square one with trying to collect.

[Garry Sorrells]

Nathan, you say "... Our system ensures a very high rate of collection, ...", very high is not 100% like a check/cash in hand. Ultimately it just sounds like selling the paper at a discount. Not saying that that is bad, just curious why you are not presenting it that way. Other than wanting to have people hear a sales pitch to get the explanation. Marketing....:(

[Nathan Thornberry]

Nathan, you say "... Our system ensures a very high rate of collection, ...", very high is not 100% like a check/cash in hand. Ultimately it just sounds like selling the paper at a discount. Not saying that that is bad, just curious why you are not presenting it that way. Other than wanting to have people hear a sales pitch to get the explanation. Marketing....:(

Good question, and it's less about marketing than educating. It was after I saw responses on this thread that I decided it was necessary.

Let me restate it this way;

If you use my forms and modify them for your own purposes and offer escrow billing, you will get paid most all of the time. Charge a small fee to bill to closing, and you will be way ahead.

If you want to get paid when you inspect, but have a client that wants to pay at closing, I'll hold the paper for that small fee- you still get paid 100% of your inspection fee. If you're a user of RecallChek, 90-day warranties, or the alarm leads program, I'll make it a non-recourse contract.

[Garry Blankenship]

Guys, give em a break.
He's just has another service you can offer your customers.
Yeah, cash now is better, but some of you do accept CC, checks, get paid AFTER the inspection.

Good Point ! I may not be interested, but if I was, it would not mean I had turned to "The Dark Side".

[Nathan Thornberry]

Good Point ! I may not be interested, but if I was, it would not mean I had turned to "The Dark Side".

Thank you for that Garry! You just made my day!

The reference to the Dark Side would make me Darth Vader and that's pretty badass.

[Rick Hurst]

Who cares to get paid "most" of the time? I want to be paid "everytime" for my services.

I've been in business for too many years to know what my chances are if I wait to be paid at closing. If you have been in the inspection business for any period of time you know that many of the inspection that you do never make it to the closing table because repairs can't be negoiated, financing falls though at the last minute and so on.....

I will continue to ask for my fees at the time of the inspection. I do offer the option to pay with a credit card which is about 90% of my transactions. I personally do not want to spend time running a bookkeeping service on who owes me money all the time.

JMHO

Rick

[Stuart Brooks]

If they can't afford to pay for the inspection how in they heck do they think they can afford to keep up the house once they get in? They shouldn't have been approved for a loan if they have no liquid capital. I send out pre-inspection email that includes the SOP, Inspection agreement for review, and things that have to be done before the inspection. There is a paragraph that states the inspection fee and that payment is due at the time of inspection with cash, check, Visa, MasterCard, or Discover.

When I have an inspection where the client is out of town, state, or country, I complete the report and give them a call to get a CC number before I send the report. I had one guy in Italy pay me with PayPal. It cost him extra because he paid the PayPal fee.

[Nathan Thornberry]

If they can't afford to pay for the inspection how in they heck do they think they can afford to keep up the house once they get in? They shouldn't have been approved for a loan if they have no liquid capital. I send out pre-inspection email that includes the SOP, Inspection agreement for review, and things that have to be done before the inspection. There is a paragraph that states the inspection fee and that payment is due at the time of inspection with cash, check, Visa, MasterCard, or Discover.

When I have an inspection where the client is out of town, state, or country, I complete the report and give them a call to get a CC number before I send the report. I had one guy in Italy pay me with PayPal. It cost him extra because he paid the PayPal fee.

You should definitely take down their social security number and run their credit, get a copy of pay stubs as well and make sure they're qualified to buy the house before you do an inspection. Come on, man! That's pretty out there- if people want to finance their lives, they're going to do it no matter what you say- and you can either be the beneficiary of it or just live through the hell in brings when irrational exuberance turns into mortgage meltdown.

Here's an example of an inspector who will get that order, will get paid at the time of the inspection, has ZERO risk of being stiffed, and yet still can offer the inspection billed to closing;

Pay for home inspection at closing | Virginia Beach Home Inspector (http://www.safehousepropertyinspections.com/payment-at-closing.html)

But you're probably right, he should just refuse to do the inspections altogether, forgo the revenue, etc.

[Stuart Brooks]

I've only had one definitely and possibly a second that wanted to pay at closing. The first one said, after the inspection, that his agent said he could pay at closing. I still got the credit card for payment. Hey, if someone wants to add the headache of billing and collecting, then all power to them. If I loose one out of 250 inspections because of that, if won't bother me.

[Dan Harris]

Here's an example of an inspector who will get that order, will get paid at the time of the inspection, has ZERO risk of being stiffed, and yet still can offer the inspection billed to closing;

Pay for home inspection at closing | Virginia Beach Home Inspector (http://www.safehousepropertyinspections.com/payment-at-closing.html)

But you're probably right, he should just refuse to do the inspections altogether, forgo the revenue, etc.



A $50.00 "convience fee" on a $300 inspection for a 4- to a max 30 day loan.

I think you and the guy your using as an example should open a same day cash loan shark store:D

[Nick Ostrowski]

Nathan, I'm not trying to pile on here but I'm a little confused in post #105, you said this......




If you use my forms and modify them for your own purposes and offer escrow billing, you will get paid most all of the time. Charge a small fee to bill to closing, and you will be way ahead.




But then in post #110, you said this......."Here's an example of an inspector who will get that order, will get paid at the time of the inspection, has ZERO risk of being stiffed, and yet still can offer the inspection billed to closing".

Do you guarantee that if an inspector uses your service he will be paid 100% of the time? The two posts I included above contradict one another.

[Nathan Thornberry]

Nathan, I'm not trying to pile on here but I'm a little confused in post #105, you said this......




But then in post #110, you said this......."Here's an example of an inspector who will get that order, will get paid at the time of the inspection, has ZERO risk of being stiffed, and yet still can offer the inspection billed to closing".

Do you guarantee that if an inspector uses your service he will be paid 100% of the time? The two posts I included above contradict one another.


Here's the difference- the example inspector given is using my forms (unaltered) and when a client fills them out he sends them in, gets a check immediately from me for the full inspection fee. If the client doesn't ultimately pay, I take the loss because he is a client. It's non-recourse.

If you were an inspector just looking for a form to use and a process that works well, but didn't want my involvement- be my guest.

[Nick Ostrowski]

So if I understand correctly, an inspector can use your forms and contract with you and always get paid and the only person who could get stiffed is you. OR......an inspector can use your forms but not contract with you and take their chances on hoping to be paid at closing. Correct?

[Nathan Thornberry]

So if I understand correctly, an inspector can use your forms and contract with you and always get paid and the only person who could get stiffed is you. OR......an inspector can use your forms but not contract with you and take their chances on hoping to be paid at closing. Correct?

Correct- 2 caveats...

1. No fraud was involved (it has to be a bona fide inspection and client)
2. You have to be a client of something we do for it to be non-recourse.

If you're not a client, we still offer to manage it, and there's not likely to be one we can't collect on, still totally worth it.

Plus you're just making it available and for a fee. I think it will encourage people that were looking for escrow billing to pay you at time of and not shop the competition. Just one more way to sell an inspection.

[Ken Rowe]

WE FUND INSPECTIONS WITHIN 48 HOURS, we handle collections and processing, and we provide the forms.



It's funny to me that I will make a post that says in so many words "you get paid 100% of your inspection fee immediately, I'll wait to get paid until closing and handle the entire process" and the response posts all point to the risk of not getting paid, or that waiting to get paid isn't their policy, or how it's a hassle...

Did anyone actually read the post before responding, or do you just take your preconceived notions based on the thread title and start typing?


Yes, people do read your posts. I think that's why we're so confused. One post says the inspector is paid immediately, and another says within 48 hours. Two days is not immediately. Leaving the inspection with cash, check or a processed credit card is immediate. Try being honest with your potential clients. If it takes two days to write the check and another 4 days for the post office to deliver it, we're going to want to know that. Maybe you have a system to do direct deposits immediately or your clients can run your credit card immediately for payment. We don't know and your not saying.

Yes, I get it. You want people in your webinar so you can hook them in and tell everyone else how you signed up over 90% of 300 people in the webinar, scare others into thinking they'll loose business to the other guys who offer your services. Great sales technique. My opinion though (as if it matters) is I would never get into a business relationship with any person or company who isn't 100% forthright about the product or service they're offering.

[Nathan Thornberry]

Yes, people do read your posts. I think that's why we're so confused. One post says the inspector is paid immediately, and another says within 48 hours. Two days is not immediately. Leaving the inspection with cash, check or a processed credit card is immediate. Try being honest with your potential clients. If it takes two days to write the check and another 4 days for the post office to deliver it, we're going to want to know that. Maybe you have a system to do direct deposits immediately or your clients can run your credit card immediately for payment. We don't know and your not saying.

We have to receive the paperwork and process, in my mind 48 hours to money=immediately.

[Dan Harris]

, in my mind 48 hours to money=immediately.

LOL.. Your starting to sound like the guy that charges new inspectors for instant home inspector certificiations.
In his mind a person is an immediately qualified certified home inspector when he fills out a promisary form, takes and on-line quiz and pays a him a fee . :D

[Nick Ostrowski]

We have to receive the paperwork and process, in my mind 48 hours to money=immediately.

Then you have a completely different concept of time than the rest of western civilization.

[Ken Rowe]

We have to receive the paperwork and process, in my mind 48 hours to money=immediately.

Your wife must get really mad at you when you tell her you'll be home immediately and show up two days later.

[Nathan Thornberry]

Then you have a completely different concept of time than the rest of western civilization.

Maybe, though it's about the same, actually about 24 hours faster than bank fund availability and almost exactly the speed of a credit card reconciliation so unless you're comparing it to cash I think it compares very favorably.

[Ken Rowe]

Maybe, though it's about the same, actually about 24 hours faster than bank fund availability and almost exactly the speed of a credit card reconciliation so unless you're comparing it to cash I think it compares very favorably.

Not even close. My credit card payments taken at the inspection are in my account the next day. Deposited checks are also available next day. Half the time it take you to "process the paperwork". That doesn't include the time it takes in your delivery of the payment, which you've failed to explain.

But, since you believe two days is the same as immediate I can see how you'd believe your process compares favorably.

[John Dirks Jr]

I do not and will never offer the pay at closing. Frankly, as a home inspector I should not even be assuming that the deal will even make it to closing. It's a notion that could influence an inspector. Even if it didn't influence an inspector, a client could be suspicious that it did.

No way, no how....forget it.

[Garry Sorrells]

Nathan,
All of the back and forth about your services is why I said you should be able to spell out what you are offering in a honest concise and straight forward manor.

You have approached the offering of your service like the darling girl who is the director of communications (or what ever her title is). A lot of verbiage yet not saying exactly how something works or is offered. Then members having to drag out the real meanings of what and how something really works. Unlike her you have not gotten your shorts in a wad and resorting to insulting people rather than answer direct questions. You do present a professional approach to discussion, thanks.

So correct me if I have it right.
1) You have forms that may be used (free) by the HI to collect on their own at closing, if it actually occurs or at some time if closing does not occur.

2) You offer a service at a fee if a HI turns over the collection to you, closing or no closing.

3) You offer free services to HI that are a client of your other services (at some $$$ level ?) that you on receipt of the paperwork, will pay the contracted fee to the HI and you accept the burden of collection.

So,
The fee for your service to accept collection of the contracted inspection fee is $____ ?

The $$$ level of services as your client need to be ____ to obtain the free collection services.?

[Rick Cantrell]

Guys
If Nathan answers your question(s), you or someone else takes a swing at him. If he does not answer your question you think he is being evasive or hiding something.

If you are interested in knowing more about the program ask him when, where, and how he can make a descent presentation to you.
If you are not interested in knowing more about his program, then leave it alone.

[Stuart Brooks]

Guys
If Nathan answers your question(s), you or someone else takes a swing at him. If he does not answer your question you think he is being evasive or hiding something.

If you are interested in knowing more about the program ask him when, where, and how he can make a descent presentation to you.
If you are not interested in knowing more about his program, then leave it alone.

Question - is Nathan a person selling a service or two or three or a working home inspector?

[Nathan Thornberry]

Question - is Nathan a person selling a service or two or three or a working home inspector?

The last time I was active in a home inspection company directly was over 10 years ago... I am a vendor.

This thread started with a simple question- "does someone have a good contract for billing the Inspection to closing?"

This was incredibly interesting because I found similar threads on other forums as well, and no real good contract or process out there- so I created one and offered it up for anyone's use for free.

I then took it the next step- and offered to fund the Inspections and handle all the escrow billing out of our offices. While that has drawn inexplicable criticism from few, it's been very rewarding to give the 100+ inspectors thus far that have requested the contract and details on our funding program a solution they were looking for.

Of course then the thread turns to whether escrow billing should be offered at all, which many inspectors have strong opinions on- which is a great thing by the way. People without opinions are boring.

[Lisa Endza]

Anyone got a good form for pay at close. I seemed to have lost the one I had. I got burned three times before I started using the form and never got burned after, although its been a while, I had the clients sign before two days before inspection sent to title company to insure enough money in escrow was there, in case I "killed" the deal. Any help would be much appreciated

So you want to pay for the inspection at closing? (http://www.nachi.org/closing2007.htm)

[CHARLIE VAN FLEET]

no ticky no laundry