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[-] Guaranteed Payment System - Scott Aduddell/MO (14 replies)
7/27/2011 11:07:56 AM (3305 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 11:59:06 AM (4871 views)
Re: Guaranteed Payment System - Kym/NJ
7/27/2011 1:21:25 PM (4807 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 5:19:26 PM (4948 views)
Re: Guaranteed Payment System - Randolph/VT
7/27/2011 10:08:53 PM (4908 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
7/28/2011 3:27:05 PM (4795 views)
Re: Guaranteed Payment System - Scott Aduddell/MO
7/28/2011 8:38:00 PM (4858 views)
Re: Guaranteed Payment System - Patrick Scott/IL
7/28/2011 11:45:07 PM (4870 views)

I think I may be missing something here.  Is the client actually releasing funds into an escrow account, to be held until the agreed upon payment date?  And, if so, who controls the escrow account(s)?  Is that how the client commits to payment?

If the client is required to release funds prior to downloading the search, then the money's gone.  So why not pay the abstractor right then and there?  Why wait until some future date?  Unless, that's how you would earn your profit, from interest on the account(s), in which case, I applaud your ingenuity.

I doubt, however, that it will ever get off the ground.  There are any number of reasons why the client does not pay the abstractor up front.  And I don't think adding an extra step for them to get their product is going to do much to induce them to turn their accounting systems upside down, as well as their order production and management systems - which often involve the abstractor typing the report directly into their system. 

I would not be the first to sign on to your program, because then I, and those who join me as your clients, are going to lose half of our customers right off the bat. 

And what about this?  If you control all that money destined for abstractors, what's to stop you from running off with it at some point?  Wouldn't be the first time an escrow account was raided.

Nice idea.  And good for you, thinking outside the box.  Unless I'm misunderstanding how it would work, which would not be the first time, it ain't gonna happen.

 

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Re: Guaranteed Payment System - Scott Aduddell
8/1/2011 4:45:24 PM (4672 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
8/1/2011 3:36:40 PM (4723 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/29/2011 10:43:01 AM (4874 views)
Re: Guaranteed Payment System - William Pattison /CA
8/1/2011 11:47:23 AM (4623 views)
Re: Guaranteed Payment System - John Campbell/CA
2/6/2012 8:16:07 PM (3654 views)
Re: Guaranteed Payment System - Scott Perry/PA
2/8/2012 9:25:08 AM (3471 views)
Re: Guaranteed Payment System - Robert Franco/OH
2/8/2012 10:34:24 AM (3490 views)

[+] Update on New Millenium Title - Leigh Attridge/MA (2 replies)
7/27/2011 8:50:37 AM (3459 views)

[+] Day Late & A Dollar Short - New Millenium Title - Leigh Attridge/MA (2 replies)
7/26/2011 8:48:33 AM (3745 views)

Massachusetts single family home sales post worst June in two decades - Leigh Attridge/MA
7/26/2011 8:31:39 AM (3696 views)

[+] Nxt Generation Title Services - Theresa Ritz/WV (2 replies)
7/25/2011 2:51:21 PM (3218 views)




[+] American Abstract - Jason Knowles/AL (5 replies)
7/25/2011 1:07:22 PM (3918 views)

[+] Comment on "Foreclosure Mills Create Title Problems That Can Be Difficult To Cure or Insure" - Source of Title/OH (1 reply)
7/25/2011 12:20:02 PM (2898 views)

[+] Ameristar - WAYNE QUICK/NC (4 replies)
7/25/2011 10:42:57 AM (3377 views)

Payoff statement & title insurance - Amir Athari/TX
7/25/2011 10:07:32 AM (2609 views)

The Banks Still Want a Waiver - Leigh Attridge/MA
7/24/2011 5:54:27 PM (3342 views)

[+] Docs RN - General Annoucement - Gerry/TN (2 replies)
7/24/2011 12:15:13 AM (5036 views)

[+] Abstrax llc / Linear Title - LEO POVEDA/CA (10 replies)
7/22/2011 4:36:47 PM (4462 views)

Countrywide to Repay Borrowers - Leigh Attridge/MA
7/21/2011 4:21:03 PM (3455 views)

[+] Comment on "Robo-Signing: Business as usual" - Source of Title/OH (1 reply)
7/21/2011 3:12:11 PM (2758 views)

[+] What to pay a sales rep? - Ray Young/GA (2 replies)
7/20/2011 5:22:57 PM (2888 views)


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