Real Title Services
Register
Log In
Forget your Password?

Home
Directory
Bulletins
Forums
Blogs
Articles
Links
Classifieds
About Us
Contact Us
Advertise
FAQ
Privacy Policy


Discussion
<< get older messagesget newer messages >>
to post a message: login - or - register | search messages | show all replies



[+] Software advice - Rebecca Cowart/MS (7 replies)
7/28/2011 3:49:41 PM (3524 views)

[-] Guaranteed Payment System - Scott Aduddell/MO (14 replies)
7/27/2011 11:07:56 AM (3671 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 11:59:06 AM (6225 views)
Re: Guaranteed Payment System - Kym/NJ
7/27/2011 1:21:25 PM (6133 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 5:19:26 PM (6257 views)
Re: Guaranteed Payment System - Randolph/VT
7/27/2011 10:08:53 PM (6199 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
7/28/2011 3:27:05 PM (6081 views)
Re: Guaranteed Payment System - Scott Aduddell/MO
7/28/2011 8:38:00 PM (6181 views)
Re: Guaranteed Payment System - Patrick Scott/IL
7/28/2011 11:45:07 PM (6172 views)
Re: Guaranteed Payment System - Scott Aduddell
8/1/2011 4:45:24 PM (6085 views)

All good points to ponder.  Let me try to address a few.

This is a common problem with lots of service type of business...abstracting, judgment search, appraisals, background search, etc. All have the common problem of releasing the work product to the client and then they are 100% at the mercy of the client paying sometime in the future. This concept puts an intermediary in the middle that allows the buffer needed to satisfy the client and the service provider. Somewhat like pay-pal. However, pay-pal is instant transfer and this system would need a delay period.

I was just trying to creat a payment system that would allow the abstractor to submit work and have some assurance that they would be paid.  The client will get to to see and approve the work, but not get enough of the image to be able to reuse it with paying (or agreeing to pay for it).  Kind of like the Pay-Pal type system, but instead of instant payment from their account, a delay long enough to satisfy their "float" needs.  They will never prepay or instant pay for it, unless that is the terms you agree to witht he client.  And some companies might agree to that if a discount is offered.  But the service provider and client work that out among themselves.

As far as the escrow question goes - your right, an escrow could be abused by the intermediary providor.  Another way to approach that may be to leave the payment in the clients accounts but set up an autopay on the agreed terms.  Not as much assurance for the service provider, but maybe a compromise. Lots of ways to skin that cat, but it does have to be something that both agree to. 

Your right, it may never work.  If service providers cannot ban together and urge customers to a better payment system, then they (we) will continue to be abused by these companies and we will still complain about it on message boards like this. 

I am very diligent on setting up a new company.  I spend a lot of time, check references, review sites and message boards, ask colleagues and set reasonable limits.  However, it's not just the new companies that are stiffing us.  We have seen many of the old line "trusted" companies that have slowed or stopped payment or gone belly up.  You think they are good, until you find out your not!!!!

Thanks for the input.

Scott Aduddell

 

 

 

 

 

to post a reply: login - or - register


Re: Guaranteed Payment System - Branden Rodgers/OH
8/1/2011 3:36:40 PM (6040 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/29/2011 10:43:01 AM (6258 views)
Re: Guaranteed Payment System - William Pattison /CA
8/1/2011 11:47:23 AM (5977 views)
Re: Guaranteed Payment System - John Campbell/CA
2/6/2012 8:16:07 PM (5025 views)
Re: Guaranteed Payment System - Scott Perry/PA
2/8/2012 9:25:08 AM (4785 views)
Re: Guaranteed Payment System - Robert Franco/OH
2/8/2012 10:34:24 AM (4771 views)

[+] Update on New Millenium Title - Leigh Attridge/MA (2 replies)
7/27/2011 8:50:37 AM (3885 views)

[+] Day Late & A Dollar Short - New Millenium Title - Leigh Attridge/MA (2 replies)
7/26/2011 8:48:33 AM (4066 views)

Massachusetts single family home sales post worst June in two decades - Leigh Attridge/MA
7/26/2011 8:31:39 AM (4077 views)




[+] Nxt Generation Title Services - Theresa Ritz/WV (2 replies)
7/25/2011 2:51:21 PM (3555 views)

[+] American Abstract - Jason Knowles/AL (5 replies)
7/25/2011 1:07:22 PM (4322 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 (3218 views)

[+] Ameristar - WAYNE QUICK/NC (4 replies)
7/25/2011 10:42:57 AM (3798 views)

Payoff statement & title insurance - Amir Athari/TX
7/25/2011 10:07:32 AM (3027 views)

The Banks Still Want a Waiver - Leigh Attridge/MA
7/24/2011 5:54:27 PM (3742 views)

[+] Docs RN - General Annoucement - Gerry/TN (2 replies)
7/24/2011 12:15:13 AM (5382 views)

[+] Abstrax llc / Linear Title - LEO POVEDA/CA (10 replies)
7/22/2011 4:36:47 PM (4807 views)

Countrywide to Repay Borrowers - Leigh Attridge/MA
7/21/2011 4:21:03 PM (3843 views)

[+] Comment on "Robo-Signing: Business as usual" - Source of Title/OH (1 reply)
7/21/2011 3:12:11 PM (3151 views)


<< get older messagesget newer messages >>

DISCLAIMER: These Message Forums are un-moderated and Source of Title does not endorse the content of any of the posts. Source of Title discourages libelous comments and you, as the sole creator of the content, take full responsibility for your remarks.
Directory

The Source of Title Business directory has 8977 listed companies.

Leave feedback on a company:
SOT ID #:  learn more...
DRN Title Search
Blogs

Read other users' blogs-- or start your own!

Most Recent Blog Posts:

Practical Obscurity, Revisited
Blurbs from the Bossman
2026/08/06
0 comments

Beneath Every Closing Lies a Story
Michael Stelzer's Blog
2026/07/18
0 comments

Residential Appraisers: Reclaim Your Time
Will Duncan 's Blog
2026/07/09
0 comments

Articles

Source of Title articles help to keep you informed on the state of the title industry.

MBA Offers Cybersecurity Benefit to Help Members Reduce Risk and Respond to Incidents
The Mortgage Bankers Association (MBA) today announced an important new MBA member benefit designed to help mortgage com...
Remodeling Market Sentiment Remains Stable in Third Quarter Despite Headwinds
“Remodeler sentiment remained stable in the third quarter, although remodelers in certain parts of the country con...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Mortgage rates moved to their highest level in almost three years last week, with the 30-year fixed rate reaching...
MBA Opens Doors Foundation Kicks Off 2027 Fundraising Season with More than $3 Million in Donations
The MBA Opens Doors Foundation (Opens Doors) today announced it received $3,093,500 in corporate and individual donation...
National Association of REALTORS® Names 2026 Good Neighbor Awards Finalists
“Each of this year’s Good Neighbor Awards finalists represents the power of service to transform lives and c...

Search Articles:
browse...

Classifieds

Buy, sell, or trade! Browse the ads or post your own!

© 2020, Source of Title.