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[+] Anti-Tax Tea Parties - Helene/GA (20 replies)
4/15/2009 9:56:02 PM (3144 views)

PA title agents, abstractors & closers - Diane Cipa/PA
4/15/2009 4:14:59 PM (2739 views)

[+] single source - Christine Sheeler/PA (2 replies)
4/14/2009 5:18:26 PM (3280 views)

[+] Off Topic - Wish me luck! - Robert Franco/OH (8 replies)
4/14/2009 10:49:40 AM (3049 views)

[+] Article: Online records access (PACER) - Dave Pell/GA (3 replies)
4/9/2009 9:32:16 PM (5007 views)




[+] ALTA 7 Coverage/Claim - Angela Martin/AR (5 replies)
4/9/2009 12:48:02 PM (3212 views)

[-] FALL THROUGHS - Ray Young/GA (10 replies)
4/9/2009 11:15:14 AM (3152 views)
Re: FALL THROUGHS - Wanda Steudel/OH
4/9/2009 11:35:22 AM (3142 views)
Re: FALL THROUGHS - Ray Young/GA
4/9/2009 11:44:05 AM (2984 views)
Re: FALL THROUGHS - Robert Franco/OH
4/9/2009 11:50:44 AM (2940 views)
Re: FALL THROUGHS - Diane Cipa/PA
4/9/2009 3:45:34 PM (2903 views)
Re: FALL THROUGHS - Robert Franco/OH
4/9/2009 6:13:59 PM (2902 views)
Re: FALL THROUGHS - Diane Cipa/PA
4/10/2009 8:55:57 AM (2874 views)
Re: FALL THROUGHS - Robert Franco/OH
4/10/2009 10:24:49 AM (2928 views)

There is a big difference between inspectors, surveyors (and around here, even surveyors do not charge if a deal falls-through), appraisers, and credit reporting agencies on one hand, and title agents on the other.  The first group all provide ONE product or service and they charge ONE fee for that service.  With title agents, however, the search is one small aspect of their services and when a transaction closes, they charge much more than the cost of the search.

For example, an appraiser may charge $350 for an appraisal.  If the transaction closes, he doesn't get any more money.  So, since he doesn't make any additional money on the orders that close, he can't afford to eat the entire fee on the ones that do not.

Title agents, by contrast, get a portion of the premium for the policies and endorsements, and often times they bill additional fees for the cost of the search, courier fees, etc.  They may get $1,000 or more when the transactions close.  Thus, they can afford to eat a few searches on the ones that fall-through. 

For me it has nothing to do with "not valuing the services," it is simply about courtesy and not wanting to charge a customer who, often through no fault of their own, do not get any benefit from my services.  As I mentioned, we make enough on the ones that close, that I don't mind paying for a few searches that do not.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: FALL THROUGHS - Diane Cipa/PA
4/13/2009 4:57:41 PM (2894 views)
Re: FALL THROUGHS - Helene /GA
4/9/2009 10:43:09 PM (2833 views)
Re: FALL THROUGHS - Jean Lurtsema/AK
4/13/2009 11:28:46 AM (2678 views)

[+] NORTHERN UNITED TITLE SERV GONE - James Badertscher/OH (8 replies)
4/8/2009 12:37:31 PM (3128 views)

[+] A.S.K Services, Inc. - Edward Huguenin/SC (8 replies)
4/8/2009 4:36:11 AM (3342 views)

Mortgage fraud always surprises me.. - Diane Cipa/PA
4/7/2009 11:32:29 AM (2413 views)

[+] Settlement Abstract -Brooklyn NY - Patrick/NY (2 replies)
4/7/2009 11:08:55 AM (2875 views)

[+] Reverse Mortgages and Mortgage Taxes - Jonathan  Cohen/MI (5 replies)
4/7/2009 10:19:45 AM (2909 views)

[+] Ameristar - Sybil East/GA (11 replies)
4/6/2009 7:05:17 PM (3328 views)

Bulletin Service Upgrade - Robert Franco/OH
4/6/2009 11:56:24 AM (2506 views)

Granite Settlement-Maryland - AbstractorWatchdog com/NY
4/4/2009 9:34:18 AM (2388 views)


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