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[+] TSS Abstract Express - Edward Huguenin/SC (5 replies)
4/24/2008 5:03:43 PM (9381 views)

[+] Beware of Clear Source Title - Kurt deVries/FL (9 replies)
4/23/2008 1:25:37 PM (4031 views)

[+] Gas Prices!!!!!!!! - Carla Curry/KY (56 replies)
4/22/2008 10:17:24 PM (3869 views)

[+] Bertrum Group does not pay - Donna D'Amore/PA (12 replies)
4/21/2008 10:16:56 AM (5120 views)

[+] New Web Site - Slade Smith/OH (11 replies)
4/19/2008 11:03:47 PM (3900 views)




[+] United One Resources?? - Deborah Zitelli/PA (4 replies)
4/17/2008 8:05:19 PM (4248 views)

[+] Cutting Expenses... - Robert Franco/OH (6 replies)
4/17/2008 9:51:07 AM (3660 views)

[-] How to Get Paid - Cheryl O'Brien/VA (8 replies)
4/16/2008 12:18:14 PM (3773 views)
Re: How to Get Paid - Ron McPherson/IA
4/16/2008 12:58:30 PM (4848 views)
Re: How to Get Paid - Robert Franco/OH
4/16/2008 1:56:24 PM (4664 views)

That certainly could be done... but there are a couple of practical problems that I think you would run into.  First is getting the client to agree to that.  Our industry is quite accustomed to NET30 billing (or NET45, lately) and why would a client use an examiner that required them to pay for their orders before they could get them when so many others are more than willing to extend short-term credit?

Second, you would lose a fairly significant amount to credit card processing fees - typically 3% or so, plus transaction fees.  With abstractors operating on such a thin profit margin, giving up even a few percent of their total gross revenue doesn't seem to be an attractive option.

Third, if someone were to design such a system, it would likely come with extra "per transaction" charges.  You would be using a third-party system to upload your work and process the credit card transactions.  That system must be maintained and it would require a sufficient amount of bandwidth to handle large files to be sent back and forth.  I would expect a charge of somewhere around $1 per order on that end.

Thus, I would "guestimate" that on a $45 current owner, you would only collect about $42. 

That being said - it is very possible to do.  We could even do it on Source of Title, a place where many abstractors and their clients already visit.  However, I don't believe that enough people would actually use it (or be willing to pay for it) to justify the development and hosting expenses.

We have considered offering an order management system via Source of Title many times.  Something that would allow abstractors to upload their orders, and provide easy online access to their back-title work, that could include online payment options for customers. The drawback is that it would require a large participation from both the abstractors and their clients to make it feasible and we just haven't gotten the impression that there is enough interest.

Best,
Robert A. Franco
SOURCE OF TITLE

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Re: How to Get Paid - Diane Cipa/PA
4/16/2008 4:52:22 PM (7394 views)
Re: How to Get Paid - Diane Cipa/PA
4/17/2008 9:31:45 AM (4595 views)
Re: How to Get Paid - David Bloys/TX
4/17/2008 11:38:12 AM (4712 views)
Re: How to Get Paid - Diane Cipa/PA
4/17/2008 5:03:27 PM (4586 views)
Re: How to Get Paid - J Nisonger/CA
4/18/2008 1:02:34 PM (4606 views)
Re: How to Get Paid - Cheryl O'Brien/VA
4/28/2008 7:31:05 PM (4836 views)

[+] Housing Strain Felt Throughout EU - Jarrod Clabaugh/OH (4 replies)
4/14/2008 3:51:35 PM (5264 views)

[+] "Claims Made" E&O Insurance - Cheryl O'Brien/VA (4 replies)
4/14/2008 11:29:04 AM (3735 views)

[+] Uncertified Special Assessments? - Michaela Urban/OH (8 replies)
4/14/2008 9:48:14 AM (3935 views)

[+] Service 1st Valuation & Settlement - Phil McLean/CO (8 replies)
4/11/2008 11:18:03 AM (5653 views)

[+] Cystic Fibrosis Event ~ Pittsburgh, PA - Jason Sheppard/PA (2 replies)
4/11/2008 7:04:07 AM (5780 views)

[+] Just an idea and how hard would it be? - Jay Duncan/MO (5 replies)
4/10/2008 11:13:32 AM (3669 views)

[+] Is there a statute of limitations on a title claim? - DS/NC (13 replies)
4/9/2008 9:49:36 PM (4228 views)


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