Called a lender for whom I had prepared a proposal for an ALTA/ACSM Land Title Survey last week and asked what the status was.
"Sorry, I talked to the Owner last week but I have been out for a few days. Your bid was almost twice the amount of the others so she has decided to use another company.
Thank you for getting me the information.
Just curious, even the lowest bid was quite a bit higher than I have seen in the past. Has something changed that has caused the cost of the surveys for the HUD insured loans to increase so much? I would like to give future clients a heads up on the increased costs. I didn’t know if there were additional HUD requirements, if it is because of something like increased insurance costs or something else.
Thanks, xxx"
I take this as good news for our profession - perhaps most of them are now charging half of what they should be getting!
I like your attitude. Why take a beating for peanuts?
"Thank you for getting me the information" ?
Did you in fact provide research used by other bidders?
Paul in PA
"Thank you for getting me the information" ?
No - just our standard ALTA proposal. Now if they gave others notice of our fee that would be another matter...
There Are Way Too Many Lenders Doing Just That
Paul in PA
> I take this as good news for our profession - perhaps most of them are now charging half of what they should be getting!
Jim, I take this as a positive. I get lowballed lots of times. Sometimes I even get a job where I am double the lowballer. Kinda weird really. Still just do my best.
Guys like us who are active in our profession and state involvement, are on this board and involved with the advancement of our profession. Those who aren't are the ones who need to be.
Sad
