Texas real estate has gone nuts. People are bidding over list on a home and sellers are reducing the option period from 10 to 3 days. As a result I have experienced a rash of jobs being scheduled and cancelled at the last minute. There are all kinds of crazy reasons but most are:
- they found a cheaper inspector
- the contract did not work out although they told me they had a contract
- buyers remorse
- the seller being a jerk and trying to get them to cancel so they can accept a higher offer.
I am thinking of not scheduling any work more than 5 days out without a non-refundable retainer (about $200; more on big homes).
I am also thinking of a $100 retainer on all other homes that cancel less than 48 hours.
I am requiring a retainer versus a cancellation fee as I foresee no one paying a cancellation fee.
I am willing to extend the same back to the client. If I get sick, fall off a roof or have car trouble and have to cancel I will give them the same money assurance.
Of course I am willing to be reasonable. If someone became very ill etc. I would not apply the charge.
Is anyone doing this? Trying to judge resistance.