Originally Posted By: jwatts1 This post was automatically imported from our archived forum.
These are a pain in the a$%, I have to collect money after escrow closes!!! I was stupid, now I have to spend more time hunting down the payment… I made the buyer sign an invoice stating that she was responsible for the inspection fee, whether or not she purchased the property… so the contract states that she is responsible, and I had her sign it…
This sucks! I think I will resist from accepting these payments... Anyone else have problems like this????
Originally Posted By: jwatts1 This post was automatically imported from our archived forum.
Yes, I charged a $25 fee, I called (escrow billing fee) so if I actually do recieve the money, it will be worth it… I charged $275 for a 1600 square foot condo.
I just hate hunting down the cash, and being a bill collector, its just more work.... The commute, inspection, and report is all us inspectors should do! Bill collecting! that sucks!
I think next time I will just jack up the escrow billing fee to $50... hopefully that will be a nice deterrent.
Worse case scenario, I will either have to take them to small claims, or just write it off on next years taxes? What do you guys do???? Tax write off as a loss, or do you spend more time and head aches in small claims?
Originally Posted By: jbushart This post was automatically imported from our archived forum.
Billing escrow seems to automatically assume that my client will purchase the home, prior to the inspection. It seems to me to create a conflict of interest where, otherwise, none would exist. I’m not for it.
Originally Posted By: jedwards This post was automatically imported from our archived forum.
jbushart wrote:
Billing escrow seems to automatically assume that my client will purchase the home, prior to the inspection. It seems to me to create a conflict of interest where, otherwise, none would exist. I'm not for it.
I agree. Suggests that the inspector has a vested interest in making sure the deal closes so he/she'll get paid.
One alternative I've heard is to have the client's REA sign a statement of responsibility for the inspection fee should the deal fail to close. Never tried it myself, and unless you have a *real* good relationship with the REA, it'd prolly be pretty hard to get.
Cash or certified funds on delivery of the report is, IMHO, the best way.
Originally Posted By: dhadler This post was automatically imported from our archived forum.
Cash or check…been real lucky, no complaints with that, and haven’t lost one yet (touch wood!)
I even put this little blurb right at the bottom of my disclaimer "We DO NOT receive any commissions of financial gains from the sale of the home, only the fee charged for the inspection. The amount is due and payable upon completion, by the client, whether the home is purchased or not. Thank-you for your la,la,la....
Wouldn't even consider waiting till the deal went through, up in our neck of the woods anyway. I figure it helps separate the inspection from the sale as well. Nice and clean...and you get paid right away too. No extra book-keeping either  
-- Darrell Hadler
Five Star Home Inspections
Medicine Hat, Alberta CANADA
Originally Posted By: dbush This post was automatically imported from our archived forum.
As long as there is an earnest money check being held by the Title Company, I have no problem being paid at closing. I don’t have to hunt the money down at all; I find out the closing date, and within 2 days I have the check from the Title Company.
On the occasion when the house does not close (happens), I get either a check from the Title Company or from the Real Estate Office depending on which one is holding the money.
Not real difficult; I would prefer to get paid up front, but sometimes you do what you have to do to keep business.
Originally Posted By: dspencer This post was automatically imported from our archived forum.
Funny…that is what I am doing today, tracking down my money from AceMortgage and yes it sucks! They owe me two inspections- months old…will I do another? Yes but add $50 per month late fees.
Originally Posted By: gbell This post was automatically imported from our archived forum.
I charge a fee of $125 if someone wants to pay through escrow. This allows me to create a separate fund where I can be compensated if I need to spend time chasing money. It also covers the cost of any inspections I fail to get paid on. It also adds a great reason for someone to pay at the time of the inspection.
Originally Posted By: dbroad This post was automatically imported from our archived forum.
No. No. I did this once and guess what, Escrow feel through and we never recieved payment. Two People asked me last week if I would bill Escrow. I told them no for Escrow can fall out for any number of reasons of which none are our fault and we need to be paid for we still did the work. After explaining why we dont bill this way I booked both the jobs and the one agent booked two more with me next week.