Page 1 of 2 12 LastLast
Results 1 to 65 of 130

Thread: Pay at closing

  1. #1
    Gary Boyet's Avatar
    Gary Boyet Guest

    Default 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

    Similar Threads:
    NHIE Practice Exam

  2. #2
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    Quote Originally Posted by Gary Boyet View Post
    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.


  3. #3
    Gary Boyet's Avatar
    Gary Boyet Guest

    Default Re: Pay at closing

    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.


  4. #4
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: Pay at closing

    Quote Originally Posted by Gary Boyet View Post
    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.

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

  5. #5
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Gary Boyet View Post
    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???????????????


  6. #6
    Join Date
    Mar 2007
    Location
    Knoxville, TN
    Posts
    2,446

    Default Re: Pay at closing

    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.


  7. #7
    Join Date
    Oct 2003
    Location
    Rockwall Texas
    Posts
    4,519

    Default Re: Pay at closing

    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


  8. #8
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    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


  9. #9
    Join Date
    Mar 2007
    Location
    Plano, Texas
    Posts
    4,170

    Default Re: Pay at closing

    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.

    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  10. #10
    Join Date
    Mar 2007
    Location
    Spring City/Surrounding Philadelphia area
    Posts
    3,473

    Default Re: Pay at closing

    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.


  11. #11
    Scott Murdock's Avatar
    Scott Murdock Guest

    Default Re: Pay at closing

    Quote Originally Posted by Gary Boyet View Post
    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.


  12. #12
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    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


  13. #13
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: Pay at closing

    Quote Originally Posted by Scott Murdock View Post
    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.

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

  14. #14
    Scott Murdock's Avatar
    Scott Murdock Guest

    Default Re: Pay at closing

    Quote Originally Posted by Dan Harris View Post
    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.


  15. #15
    Gary Boyet's Avatar
    Gary Boyet Guest

    Default Re: Pay at closing

    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.


  16. #16
    Stacey Van Houtan's Avatar
    Stacey Van Houtan Guest

    Default Re: Pay at closing

    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..


  17. #17
    Join Date
    Mar 2007
    Location
    Ormond Beach, Florida
    Posts
    26,252

    Default Re: Pay at closing

    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.

    Jerry Peck, Construction / Litigation Consultant
    Construction Litigation Consultants, LLC ( www.ConstructionLitigationConsultants.com )
    www.AskCodeMan.com

  18. #18
    Join Date
    Mar 2007
    Location
    Plano, Texas
    Posts
    4,170

    Default Re: Pay at closing

    Quote Originally Posted by Ron Bibler View Post
    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?

    Jim Luttrall
    www.MrInspector.net
    Plano, Texas

  19. #19
    Join Date
    Mar 2007
    Location
    Oregon
    Posts
    2,365

    Default Re: Pay at closing

    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.


  20. #20
    chris mcintyre's Avatar
    chris mcintyre Guest

    Default Re: Pay at closing

    Quote Originally Posted by Gary Boyet View Post
    Pay at closing only happens when the seller is paying closing fees.
    Which has become the standard in the current housing market.


  21. #21
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by Jim Luttrall View Post
    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

    Best

    Ron


  22. #22
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    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.


  23. #23
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Ron Bibler View Post
    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

    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.


  24. #24
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    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.


  25. #25
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by A.D. Miller View Post
    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.


  26. #26
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

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


  27. #27
    Don Burbach's Avatar
    Don Burbach Guest

    Default Re: Pay at closing

    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.


  28. #28
    Bill Emelander's Avatar
    Bill Emelander Guest

    Default Re: Pay at closing

    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


  29. #29
    William Brady's Avatar
    William Brady Guest

    Default Re: Pay at closing

    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.


  30. #30
    Join Date
    Mar 2007
    Location
    Mesa AZ
    Posts
    1,181

    Default Re: Pay at closing

    Quote Originally Posted by Ron Bibler View Post
    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.

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

  31. #31
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by Dan Harris View Post
    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


  32. #32
    Join Date
    May 2009
    Location
    Washington State
    Posts
    358

    Default Re: Pay at closing

    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.


  33. #33
    Join Date
    May 2009
    Location
    Washington State
    Posts
    358

    Default Re: Pay at closing

    excuse the typo


  34. #34
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    Quote Originally Posted by Jim Hintz View Post
    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.
    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.


  35. #35
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by A.D. Miller View Post
    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.
    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

    Last edited by Ron Bibler; 02-06-2010 at 02:26 PM.

  36. #36
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    Quote Originally Posted by Ron Bibler View Post
    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 . . .


  37. #37
    Join Date
    Mar 2007
    Location
    Colorado Springs, CO
    Posts
    1,217

    Default Re: Pay at closing

    Quote Originally Posted by Ron Bibler View Post
    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!

    "Baseball is like church. Many attend but few understand." Leo Durocher
    Bruce Breedlove
    www.avaloninspection.com

  38. #38
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Bruce Breedlove View Post
    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.


  39. #39
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by Ted Menelly View Post
    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 Sorry A.D.M. I known you don't swing that way...

    The 650 BSA Was a very nice bike...

    Best

    Ron


  40. #40
    Join Date
    Mar 2007
    Location
    Knoxville, TN
    Posts
    2,446

    Default Re: Pay at closing

    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


  41. #41
    imported_John Smith's Avatar
    imported_John Smith Guest

    Default Re: Pay at closing

    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.


  42. #42
    Join Date
    May 2009
    Location
    Washington State
    Posts
    358

    Default Re: Pay at closing

    Like your new moniker/avatar Bruce !!!


  43. #43
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by Jack Feldmann View Post
    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


  44. #44
    Join Date
    Mar 2007
    Location
    Colorado Springs, CO
    Posts
    1,217

    Default Re: Pay at closing

    Quote Originally Posted by Jim Hintz View Post
    Like your new moniker/avatar Bruce !!!
    Thanks. We need more signs like this one in DC.

    "Baseball is like church. Many attend but few understand." Leo Durocher
    Bruce Breedlove
    www.avaloninspection.com

  45. #45
    Join Date
    Dec 2007
    Location
    Holladay, UT
    Posts
    565

    Default Re: Pay at closing

    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.

    Tom Rees / A Closer Look Home Inspection / Salt Lake City, Utah

  46. #46
    Gary Boyet's Avatar
    Gary Boyet Guest

    Talking Re: Pay at closing

    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.


  47. #47
    Ron Bibler's Avatar
    Ron Bibler Guest

    Default Re: Pay at closing

    Quote Originally Posted by Tom Rees View Post
    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.

    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


  48. #48
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    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.


  49. #49
    Brian Johnson's Avatar
    Brian Johnson Guest

    Default Re: Pay at closing

    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.


  50. #50
    Join Date
    Mar 2007
    Location
    Colorado Springs, CO
    Posts
    1,217

    Default Re: Pay at closing

    Quote Originally Posted by Brian Johnson View Post
    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.

    "Baseball is like church. Many attend but few understand." Leo Durocher
    Bruce Breedlove
    www.avaloninspection.com

  51. #51
    William Brady's Avatar
    William Brady Guest

    Default Re: Pay at closing

    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.


  52. #52
    Join Date
    Mar 2007
    Location
    Colorado Springs, CO
    Posts
    1,217

    Default Re: Pay at closing

    Quote Originally Posted by William Brady View Post
    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.

    "Baseball is like church. Many attend but few understand." Leo Durocher
    Bruce Breedlove
    www.avaloninspection.com

  53. #53
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Bruce Breedlove View Post
    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.


  54. #54
    Kevin Luce's Avatar
    Kevin Luce Guest

    Default Re: Pay at closing

    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.


  55. #55
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Kevin Luce View Post
    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


  56. #56
    Join Date
    Mar 2007
    Location
    Colorado Springs, CO
    Posts
    1,217

    Default Re: Pay at closing

    Quote Originally Posted by Ted Menelly View Post
    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.

    "Baseball is like church. Many attend but few understand." Leo Durocher
    Bruce Breedlove
    www.avaloninspection.com

  57. #57
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Bruce Breedlove View Post
    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!"


  58. #58
    A.D. Miller's Avatar
    A.D. Miller Guest

    Default Re: Pay at closing

    not trying to be rude or stir anything up.
    BB: I suppose not . . .

    ***IMPORTANT*** You Need To Register To View Images ***IMPORTANT*** You Need To Register To View Images

  59. #59
    Join Date
    Mar 2007
    Location
    Spring City/Surrounding Philadelphia area
    Posts
    3,473

    Default Re: Pay at closing

    Fugedahboutit!!


  60. #60
    Ted Menelly's Avatar
    Ted Menelly Guest

    Default Re: Pay at closing

    Quote Originally Posted by Nick Ostrowski View Post
    Fugedahboutit!!
    The man said while caving the other mans face in. Nothing personal! Just business!


  61. #61

    Default Re: Pay at closing

    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/DVyT...Xsv8mRT680?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.


  62. #62
    Garry Blankenship's Avatar
    Garry Blankenship Guest

    Default Re: Pay at closing

    "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


  63. #63

    Default Re: Pay at closing

    Quote Originally Posted by Garry Blankenship View Post
    "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


  64. #64
    Garry Blankenship's Avatar
    Garry Blankenship Guest

    Default Re: Pay at closing

    Quote Originally Posted by Nathan Thornberry View Post
    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.


  65. #65

    Default Re: Pay at closing

    Quote Originally Posted by Garry Blankenship View Post
    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?


Page 1 of 2 12 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •