First Inspection today....well almost

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#1

Originally Posted By: kmcmahon
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Had my first paid inspection today…things went well until some guy drove his car into a power pole and shut off all elect. to the neighborhood. I was just finishing the exterior when it happened…had to reschedule the remainder for tomorrow…oh well…good news is that during the inspection got another call for another inspection…bad news is I’m getting paid by the realtor…how does that work?..she never even asked for a quote…just booked it. The buyer turns out to be an architect I used to work with on projects when I was a Project manager…small world.


My local Re/Max agent called and can't send business my way until I provide proof of insurance...(so much for waiting awhile before getting E&O) oh well.

Well...at least business has started....I'm gonna love it! ![icon_biggrin.gif](upload://iKNGSw3qcRIEmXySa8gItY6Gczg.gif)

--
Wisconsin Home Inspection, ABC Home Inspection LLC

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#2

Originally Posted By: rfarruggia
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Dude, get that E&O policy in place pronto. I can’t believe that you would even consider doing a job, especially for an architect, without your E&O.


Oh and congrats on breaking your cherry.

#3

Originally Posted By: kmcmahon
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I’ve already made the call, so it’s in the works.

–
Wisconsin Home Inspection, ABC Home Inspection LLC


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#4

Originally Posted By: rhinck
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If you are being paid from the closing have an invoice (seperate) reeady to give to the realtor at the inspection. I like to , as most do, get paid at the inspection, but sometimes it is not possible. Just be prepared, ask the question on the phone when you book the inspection.



Rick

#5

Originally Posted By: wcampbell
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If you are going to accept payment at closing, I would suggest that you personaly take or mail the invoice to the title company yourself. You don’t want to be red-faced when the property closes and “somehow” your bill never made it down there.

–
This Ole House-Home Inspections


William A. Campbell TREC # 6372


Serving the Texas Coastal Bend


(361) 727-0602 (home)


(361) 727-0055 (office)


(361) 229-4103 (cell)

#6

Originally Posted By: kmcmahon
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Well that’s not exactly how she said she was going to do it. She said as part of the deal she made with the buyer, if he listed with her, she’d pay for the inspection on the home he buys.


Just wondering if anyone else dealt with this sort of thing before.

–
Wisconsin Home Inspection, ABC Home Inspection LLC


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#7

Originally Posted By: wcampbell
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I don’t bill to closing as a general rule. Not sure about your area, but here the title companies may not pay out if the property doesn’t close.


You said that the agent would pay for the inspection on the house that the client buys. What if the client doesn’t buy the property that you inspect for them? Who is going to pay the bill?


I would tell the agent to have the check ready at the inspection.

–
This Ole House-Home Inspections


William A. Campbell TREC # 6372


Serving the Texas Coastal Bend


(361) 727-0602 (home)


(361) 727-0055 (office)


(361) 229-4103 (cell)

#8

Originally Posted By: ekartal
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Get the money you earned! I don’t like the idea that the realtor needs her check before you get yours. icon_evil.gif


Erol Kartal

#9

Originally Posted By: jpeck
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Never bill to closing, as stated previously, not every deal closes.


That said, I usually have $5k-$10k outstanding at any given time, not because I bill to closing (I don't), but because I bill by the hour, I don't know how much the invoice will be for until I am done with both the inspection AND the report (yes, I also bill for that time too). Thus, I always get paid after I am through. On rare occasions, I am through at the end of the inspection, in which case I burn the report to a CD and get the check at the same time.

Billing-to-closing is a completely different animal. Don't do it. What if they don't close? What if they don't hold back the inspection cost out of the closing fees? What if ... ?

--
Jerry Peck
South Florida

#10

Originally Posted By: Vince Santos
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How can a new inspector be expected to afford E&O?


From what I have heard, E&O is like $300.00 a month.


I have yet to do a paid inspection, (very new to the business), but this seems a little much for even a busy inspector.

–
Desire is half of life, indifference is half of death.


–Kahlil Gibran

#11

Originally Posted By: jhagarty
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Vince:


E&O is not required in every State.

Many Inspectors consider it a cost of doing business just like Rent, Utilities, and Insurance costs of other Businesses.

--
Joseph Hagarty

HouseMaster / Main Line, PA
joseph.hagarty@housemaster.com
www.householdinspector.com

Phone: 610-399-9864
Fax : 610-399-9865

HouseMaster. Home inspections. Done right.

#12

Originally Posted By: ekartal
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Vince,


Many inspectors pay out of their pocket to settle claims because they didn't have insurance.

Erol Kartal

#13

Originally Posted By: kmcmahon
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The Architect that I wrote about before and did the second inspection ever for called me today…Had a lump in my throat…“What can I do for you John?”


Turns out he belongs to a charitable org (Isaac Walton Leauge) and they are discussing building a new clubhouse and wants an inspection on the old clubhouse and give a list of what's wrong with it so they have something to bring to the board when they vote for funds.
WHEW! I gave them a big discount due to being a charitable org. Figured it could help me in exposure as they have 100 or so members.

First one I'm going to do where I think they want me to find a bunch wrong.

--
Wisconsin Home Inspection, ABC Home Inspection LLC

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