I missed that the seller was paying, so it makes a little more sense that they want to pay at closing. Not saying it makes it right, but how long does a pool inspection take ? Maybe worth the ROI if they don’t end up paying
Totally agree, we always get payment before providing the report. There are a few realtors, very few, that we will do a delayed payment agreement with. We have the client complete and sign a form that allows us to either cash a check that they give us and hold or charge their credit card that they give us all the information needed to run. If it doesn’t go to closing then we process. The trick to this is having a relationship with the realtor that they give you a heads up when the deal falls through. Good Luck
I am afraid I am in the minority here. I do inspections for USDA and FHA and wait until closing to get paid. Their money is guaranteed or has proven to be. Know your Client or Client Representative. I charge a flat $75 for the service and no complaints from USDA. I am the only inspector who will accommodate them. Last December I had 7 closings that sure were a nice end of year bonus. I am surely going to get burned but the benefit outweighs the risk. Bottom line, a good understanding up front is worth a lot in the rear. Best wishes
We have a policy of no payment, no report. Works really well. This year I had 3 requests (fairly close together)… I hadn’t had an unpaid inspection in a looong time, and these agents were repeat agents, so after the sob stories I said “ok” to be paid out of escrow. Big mistake… guess how many unpaid inspections I have this year? 3!! Clients don’t answer emails, phone calls… agents say, 'gee, they said they would do it, sorry that happened…" Now in our SOP, in bold letters… NO PAYMENTS AT CLOSING/ESCROW. NO REPORTS WITHOUT PAYMENT. Not every deal goes to closing, and unless it is written into the closing documents (which is more hassle than it’s worth), just say no.
Just wondering…Where in hell does the SELLERS AGENT get to tell you how to run your business. I ran across an agent a few years ago that thought he had the right to tell me how much to charge for my services. I countered his comments by telling him how much I thought he should be paid for the sale. Didn’t do any more inspections for his clients. Tough schitt!
I wish___LOL
The realtor paid me when I arrived… SWEET… Our initial conversation I requested payment up front. The after the sale conversation ensued, and got my FIRST check today. Now to open a BIZNASS bank account. LOL I guess I am OFFICIALLY in business. Now to get a few repeated client referrals.
Thanks for the advice…
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So I just noticed my intro line was spelt incorrectly. I should have been tortured over that. Way different than my car forum. LOL… Peace Gents. THANKS AGAIN!! ! ! ! ! !
It happens… you invoice them 30 days or at closing, whichever comes first. The invoice goes to the client and mortgage company. In the contract you state that if the closing is cancelled or delayed, payment is still due in full. I have never lost a payment and it’s nice when the $ comes in. The bank will send you a check at closing.
What you described … receiving money for a home inspection from the seller when and if the seller is able to sell the home … is a clear and distinct conflict of interest which casts a shadow over the reliability of the information in the report.
I have only been in the business about three years. When I first started out I did it about a dozen times for some realtors thinking it would help me, all it did was cost me money. Some realtors will even ask for that if they think the deal is going to fall apart! Point is, if the buyers can’t afford the inspection or the sellers can’t pay at the time of inspection if it agreed they are paying then thats a big red flag! I refuse to perform a inspection for anyone without pre-payment or at the time I perform the inspection.