Since we're reorganizing to pay with checks cut on the HUD, we're working through those issues right now. We consider a file that goes dormant for 30 days to be dead. [We can always reopen it at any time and yes, there may some that take too long. I would say that if we had a file taking way too long to close, we'd just pay the abstractor rather than wait because it's not a contingency fee. Most deals close within a reasonable time.] At that time we log it dead and the coordinator is to pull the invoice and we'll pay it at that time. If the file isn't Choose and Save -which already has a pre-paid cancellation fee from the consumer - we'll bill them $300 for cancellation. That covers our lien letters, the abstract and some costs - normally. It's not a markup because it covers real work.
This is a bit like turning a ship at sea but so far it's working and I'm happy.
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