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Thread: Pay at closing

  1. #66
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    Default Re: Pay at closing

    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.

    Inspection Referral SOC
    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  2. #67

    Default Re: Pay at closing

    Quote Originally Posted by Jim Luttrall View Post
    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?


  3. #68
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    Default Re: Pay at closing

    Spoken like a true salesman

    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.

    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  4. #69

    Default Re: Pay at closing

    Quote Originally Posted by Jim Luttrall View Post
    Spoken like a true salesman

    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!


  5. #70
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    Default Re: Pay at closing

    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.

    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  6. #71

    Default Re: Pay at closing

    Quote Originally Posted by Ken Rowe View Post
    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?


  7. #72
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  8. #73
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    Default Re: Pay at closing

    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  9. #74

    Default Re: Pay at closing

    Quote Originally Posted by Steven Turetsky View Post
    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.


  10. #75
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  11. #76
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    Default Re: Pay at closing

    Quote Originally Posted by Ken Rowe View Post
    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.

    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  12. #77

    Default Re: Pay at closing

    Quote Originally Posted by Scott Patterson View Post
    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?


  13. #78
    Garry Blankenship's Avatar
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.


  14. #79

    Default Re: Pay at closing

    Quote Originally Posted by Garry Blankenship View Post
    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?


  15. #80
    Garry Blankenship's Avatar
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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 ?


  16. #81

    Default Re: Pay at closing

    Quote Originally Posted by Garry Blankenship View Post
    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.


  17. #82
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    Default Re: Pay at closing

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

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  18. #83
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    Default Re: Pay at closing

    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.

    MinnesotaHomeInspectors.com
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  19. #84
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    Default Re: Pay at closing

    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  20. #85

    Default Re: Pay at closing

    Quote Originally Posted by Steven Turetsky View Post
    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 +


  21. #86

    Default Re: Pay at closing

    Quote Originally Posted by Ken Rowe View Post
    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.


  22. #87
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  23. #88

    Default Re: Pay at closing

    Quote Originally Posted by Steven Turetsky View Post
    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".


  24. #89
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  25. #90

    Default Re: Pay at closing

    Quote Originally Posted by Steven Turetsky View Post
    Please explain yourself.
    Well, I'm 5'6", 'bout 170 lbs, 31years old, pretty nice guy overall despite anything my wife says.


  26. #91
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    Default Re: Pay at closing

    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.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  27. #92
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    Default Re: Pay at closing

    Sounds a little like loan-sharking.

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  28. #93
    Anthony Hubbert's Avatar
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    Question Re: Pay at closing

    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


  29. #94
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    Default Re: Pay at closing

    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.

    Steven Turetsky, UID #16000002314
    homeinspectionsnewyork.com
    eifsinspectionsnewyork.com

  30. #95
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    Default Re: Pay at closing

    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


  31. #96

    Default Re: Pay at closing

    Quote Originally Posted by nick alati View Post
    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

    /\
    |
    |
    (Smart Guy)


  32. #97
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    /\
    |
    |
    (Smart Guy)
    Not really. Just because you get a credit card number doesn't mean the transaction will be approved.

    MinnesotaHomeInspectors.com
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  33. #98
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.


  34. #99

    Default Re: Pay at closing

    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).


  35. #100
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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


  36. #101
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    Default Re: Pay at closing

    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.

    ' correct a wise man and you gain a friend... correct a fool and he'll bloody your nose'.

  37. #102

    Default Re: Pay at closing

    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.


  38. #103
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    Default Re: Pay at closing

    Quote Originally Posted by Ken Rowe View Post
    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.


  39. #104
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    Default Re: Pay at closing

    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....


  40. #105

    Default Re: Pay at closing

    Quote Originally Posted by Garry Sorrells View Post
    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.


  41. #106
    Garry Blankenship's Avatar
    Garry Blankenship Guest

    Default Re: Pay at closing

    Quote Originally Posted by Rick Cantrell View Post
    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".


  42. #107

    Default Re: Pay at closing

    Quote Originally Posted by Garry Blankenship View Post
    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.


  43. #108
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    Default Re: Pay at closing

    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


  44. #109
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    Default Re: Pay at closing

    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.

    The above statements are expressed solely as my opinion and in all probability will conflict with someone else's.
    Stu, Fredericksburg VA

  45. #110

    Default Re: Pay at closing

    Quote Originally Posted by Stuart Brooks View Post
    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

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


  46. #111
    Join Date
    Sep 2007
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    Default Re: Pay at closing

    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.

    The above statements are expressed solely as my opinion and in all probability will conflict with someone else's.
    Stu, Fredericksburg VA

  47. #112
    Join Date
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post

    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

    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

    Last edited by Dan Harris; 06-29-2012 at 09:17 PM.
    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  48. #113
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    Spring City/Surrounding Philadelphia area
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    Default Re: Pay at closing

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

    Quote Originally Posted by Nathan Thornberry View Post

    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.

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  49. #114

    Default Re: Pay at closing

    Quote Originally Posted by Nick Ostrowski View Post
    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.


  50. #115
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    Default Re: Pay at closing

    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?

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  51. #116

    Default Re: Pay at closing

    Quote Originally Posted by Nick Ostrowski View Post
    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.


  52. #117
    Join Date
    Nov 2009
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    WE FUND INSPECTIONS WITHIN 48 HOURS, we handle collections and processing, and we provide the forms.
    Quote Originally Posted by Nathan Thornberry View Post
    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.

    Last edited by Ken Rowe; 06-30-2012 at 10:06 PM.
    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  53. #118

    Default Re: Pay at closing

    Quote Originally Posted by Ken Rowe View Post
    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.


  54. #119
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    , 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 .

    Phoenix AZ Resale Home, Mobile Home, New Home Warranty Inspections. ASHI Certified Inspector #206929 Arizona Certified Inspector # 38440
    www.inspectaz.com

  55. #120
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  56. #121
    Join Date
    Nov 2009
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    St Paul, MN
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  57. #122

    Default Re: Pay at closing

    Quote Originally Posted by Nick Ostrowski View Post
    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.


  58. #123
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    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.

    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  59. #124
    Join Date
    Jun 2008
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    Maryland
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    Default Re: Pay at closing

    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.


  60. #125
    Join Date
    Dec 2008
    Location
    Maryland
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    2,778

    Default Re: Pay at closing

    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.?

    Last edited by Garry Sorrells; 07-01-2012 at 04:25 PM. Reason: verbage

  61. #126
    Join Date
    Mar 2007
    Location
    Columbus GA
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    3,746

    Default Re: Pay at closing

    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.

    ' correct a wise man and you gain a friend... correct a fool and he'll bloody your nose'.

  62. #127
    Join Date
    Sep 2007
    Location
    Fredericksburg, VA
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    885

    Default Re: Pay at closing

    Quote Originally Posted by Rick Cantrell View Post
    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?

    The above statements are expressed solely as my opinion and in all probability will conflict with someone else's.
    Stu, Fredericksburg VA

  63. #128

    Default Re: Pay at closing

    Quote Originally Posted by Stuart Brooks View Post
    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.


  64. #129
    Join Date
    Mar 2009
    Location
    Denver
    Posts
    893

    Default Re: Pay at closing

    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?

    Lisa Endza
    Director of Communication
    InterNACHI

  65. #130
    Join Date
    Apr 2007
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    WESTMINSTER CO
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    Default Re: Pay at closing

    no ticky no laundry


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