Completed a job about two months ago through a real estate agent that has sent me many jobs over the decades.?ÿ The only bad thing on those is that I get paid in full at the same time she does, at closing.?ÿ They have always closed, so it's merely a delay in getting paid.
She texted today asking about a job I am doing for her second cousin.?ÿ No problems there.?ÿ But, it gave me an opening to inquire on the closing date for the recent job.?ÿ The closing was officially extended YESTERDAY because the loan manager with all the knowledge on the dealings had a heart attack and DIED over the weekend.?ÿ Plus, the appraisal report is not complete after two months.?ÿ There are no improvements on the land.?ÿ Unimproved pasture and hay land suitable for agricultural purposes and hunting.?ÿ How hard can that be to figure out?
It seems everyone seems to either have money or credit right now and are spending like there's no tomorrow.?ÿ The survey business is wacko.?ÿ The lending business is wacko.?ÿ The appraisal business is wacko.?ÿ The real estate business is wacko.?ÿ The title insurance business is wacko.?ÿ You can list a property online at midnight and have a signed agreement to sell by noon, but the paper shuffling required can take three months.?ÿ Insane.
That sucks.
Appraisals are moot for cash sales, you could just isolate those as the only transactions you're willing to do until the insanity subsides.
For what it's worth, when I last purchased a house in 2016, I asked what the delay was, and when they said "We're too busy, and the appraisers are too busy..."
I flatly said " I don't care. You charged me a loan origination fee, and I don't care about the appraisers being to busy, and I don't care if your company and employees are too busy, because you keep bringing business in without completing the workflow, isn't supposed to be my problem, and now it is. If you don't get an appraisal for my loan close I'm rescinding the deal and filing a formal complaint...."
They got an appraisal two days later, and I closed.
The loan manager dying is tragic, esp for their family and friends, but again, the title indicates subordinates exist, so why are they not able to keep the ball moving down the pitch?
Good luck.
They have always closed,
What happens when one doesn't, which will eventually happen.
@bill93?ÿ
You eat it, but we??re not supposed to discuss or admit it. ?????ÿ
The loan manager dying is tragic, esp for their family and friends, but again, the title indicates subordinates exist, so why are they not able to keep the ball moving down the pitch?
Probably for the same reasons lots of organizations (including firms in our sector) are "unable to find skilled employees" right now.
If a firm is unwilling to pay well and/or train and upskill its own people (and just as importantly cross-train them) this is the natural result. One person goes away and the entire team is immobilized. And the smart employees realize that they can't advance upward or gain additional skills and walk.
Payment for professional services should never be tied to a future downstream transaction.?ÿ You do the work, you get paid per a properly executed contract.?ÿ The rest is someone else's problem.
Hopefully you're not working for the realtor as they are not the property owner. I am not sure about your work area but around here you cannot place a lien on the property if you contracted with someone that doesn't own it.
I have been paid by a realtor out of monies they have held as part of the transaction.?ÿ This is legal.
I have been paid by a realtor out of his own pocket.
I have gone to small claims court and have been awarded judgement for payment from the seller because the sales agent was working on their behalf.
I have NEVER not been paid on jobs via a realtor.
@rover83?ÿ
Yep.?ÿ I walk or run from sinking ships, and largely try to never board them to begin with too.
@flga-2-2?ÿ ?ÿSsshhhh. We are not supposed to say that, but fight like hell to get our invoice paid, even to the point of spending more money than the invoice was for. Or you could spend that wasted time doing another survey for more than the previous invoice. About half the time they will write you a check post closing. If not, and I am able to collect all of the paper copies, I will offer a reduced fee and have been moderately successful. Ya'll can call it a washout if you want, I call it "I don't have time to waste money and next time you can use another surveyor".
@holy-cow?ÿ ?ÿ Yep, Realtors don't want to lose you, they will pay out of pocket to keep you and will encourage their client to oblige their agreement with you. Title agents know what's going on and will drop hints about the remainder, if any, of an escrow fund.
During the first 3 months in business, and still in shock from depletion of every nickel I owned, mortgage surveys were the entry point. Washouts were and still are standard?ÿ policy for 90% of the title companies in Central Florida. After 3 or 4 "washouts" the numbers didn't work for me. To cut to the chase, gave up on that nonsensical venture and pursued construction surveys. No 20-20 hindsight regrets.?ÿ
Then, in Florida, the Board became involved in washouts and price fixing issues. What a hoot that was. ?????ÿ
@flga-2-2
Ah. Price fixing....the realty community staunchly denies it...and refuse to work with anyone who dares challenge or question their commission process...?ÿ?ÿ
????
It did, does and forever will piss me off that Realtors receive a percentage commission based on selling price. They make $18K on a sale but would keel over dead before paying over $400 for a "mortgage" survey.
And I have had my real estate license since 1981. Took until 1982 to realize most of them are legalized crooks. ?????ÿ
@flga-2-2?ÿ
I understand and respect and question your dangerous liaison between the profession... ????ÿ
After I had terse words with my realtor at sale of last house, he neither said thank you or shook my hand at the closing, because he new I would kick his ass if he said anything. Yes. It got that bad.
