I believe the term was "Wash Out Survey" and at one time was against the rules in Florida
Survey will be performed when you have a legitimate contract, and will be paid within ? 30 days.
It still is. FS Standards of Practice 5J-17.53(2)(d)1
freedom to contract is restricted by law? that sucks
I have no problem with it but be sure to charge 6% of sales prices so that the half that close pay for the half that don't close.
We have been looking for a place to move to, found one we like a lot, seller has a contingency so it's not a sure thing yet.?ÿ The Agent doing this for us put some time into it, no guarantee she'll make a dime out of it.?ÿ If the seller removes their contingency then we will proceed to closing and both Agents will make the money.?ÿ It's not a business I care to be in, takes the patience of Job putting up with crazy sellers and buyers (such as me ha ha).
freedom to contract is restricted by law? that sucks
Rules aren't made in a vacuum or out of?ÿ thin air...?ÿ The reason washout surveys are illegal in Florida is because so many home buyers were injured by them.?ÿ Seems pretty simple to me, you don't want your surveyor financially tied to the results of the survey.?ÿ ?ÿ
Just like you don't want your doctor being paid by the drug company sales creatures.?ÿ?ÿ
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Rules aren't made in a vacuum or out of?ÿ thin air...?ÿ The reason washout surveys are illegal in Florida is because so many home buyers were injured by them.?ÿ Seems pretty simple to me, you don't want your surveyor financially tied to the results of the survey.?ÿ ?ÿ
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To follow the medical analogy, seems like's its a rule design to treat the symptom rather than the disease.?ÿ ?ÿ
From an ethics standpoint, I can see they want to remove any temptation to ignore problems in order to get paid.
From a business standpoint, when you complete a survey, you have produced something of value.?ÿ You have checked the title history makes sense and applies to the property they expect it to, identified and exposed or replaced corner monuments, checked for incursions of improvements, and provided a document.?ÿ Why would you do all this and not expect to be paid, regardless of other people's actions?
Good luck with that. Your losses in an agreement as mentioned will supercede your profits. And yes that type of contract is illegal in Florida.?ÿ ? ?ÿ
freedom to contract is restricted by law? that sucks
UH, yeh. Like, you can't contract to provide professional survey services if you don't have a license.?ÿ It kind of sucks, but it's the law.?ÿ
"No bill" is another term for that practice.
Most agents get some form of a retainer or other non refundable money that pays for their trouble.
They never share with the surveyor which to me shows their no respect attitudes.
They should be illegal.
You cannot perform an "above the table" survey if you have a financial interest in the property.
"No bill" is another term for that practice.
Most agents get some form of a retainer or other non refundable money that pays for their trouble.
They never share with the surveyor which to me shows their no respect attitudes.
Realtors are so numerous here that I don't know of any getting money up front.?ÿ One office of a multi-office brokerage has more Realtors in it than there are Land Surveyors in the 4 County region.?ÿ A friend contacted a Realtor to be a buyer's agent and he signed an agreement that if he didn't enter escrow within 6 months it would be $2,500 which surprised me.?ÿ I've dealt with a couple of them recently and there was no suggestion of any up front fee or fee down the road if we don't buy anything.?ÿ They are working for free until we close on something then the seller pays the commission (supposedly, in reality it jacks up real estate prices).
Thanks OldPacer
I wasn't sure if I remembered the term from New York State or Florida.
I don't think the reasons were to disregard any color of title or illegal activity.
I suspect that the idea only demeans the profession; as well as creates an unfair competitive edge
among fellow peers. I only guess as that concept was brought up before I got licensed....
As long as we treat each other as a peer professional, i be a happy pup.
What you describe should be illegal in every state simply because the surveyor has a interest in not showing things that may cloud the title. If there is a situation of "pay upon closing" the surveyor would be incentivizes to not show items that could show a conflict such as encroachments, overlaps, trespass, unwritten easements, etc..
I never agree to work on these terms and expressly refuse.?ÿ
