Have you ever asked an attorny for payment up front before you did a loan/mortgage survey?
Yes. A couple years ago I was contacted by an out of state attorney working for an estate. The property was very remote and in a pretty mountainous area. They didn't want it surveyed - yet, but they were concerned about access. Both physical and legal.
They wanted me to research things to determine if there was legal access, and if I could drive to it in my truck. And then provide a drawing showing at least the legal access per records, and an opinion on the physical access.
I got 75% up front because I was a bit nervous that there wasn't any sale involved, and estates can be iffy. It took me 2 months to get the rest. It wasn't really a survey per se, but they were happy. I'm still waiting for the survey job, but my guess is its been the economy.
I've asked attornies for retainers on real surveys before, but they always make me wait until closing. Never been a problem, but sometimes things get delayed. Private people a retainer is mandatory.
yep. if i get a funny feeling about it i ask for $ up front.
most of the time i don't though.
I know its hard to get the price of the survey up front but too many times the surveyor will hear " the loan did not close, sorry" Too hot to work for free while all the time wondering if you will get paid in the end!
Back in the early 90's I did a lot of mortgage surveys (they are/were legal in MI). Those that offered "cancellation rights" did just about all of them. The few that did not extend them did very few.
Usually the banks know if a buyer is questionable, so one work around is to have them wait until everything is approved to order it. Tough on the schedule but at least you get paid.
I sure don't miss that market, or the banks & realtors nonesense that goes with it one little bit. Seems odd that an attorney would even be involved. Good luck...
My standard retainer fee language
Upon our receipt of this fully executed agreement and the retainer fee we will commence with professional land surveying services for the above referenced project. The fee for this service is $_____ with a retainer of half of the fee ($____) due at the time of execution of this agreement. Once we receive the above we will then commence with the initial county records research & field locations. Then we will provide the final certified survey upon receipt of the remaining balance ($____) due. We anticipate completing these services within ____ to ____ weeks of receipt of the initial retainer fee.
> Have you ever asked an attorny for payment up front before you did a loan/mortgage survey?
Only if the attorney is your real client. If the attorney is only an agent, talk to the real client instead.
As for the retainer, if you manage things correctly, there is no reason not to get at least half up front. Often people offer to pay the full amount up front. (That is if you set your price based on a fixed fee basis instead of hourly.)
Those who hesitate and come up with some excuse why they can not pay a deposit when they order the work, I send down the street to be someone else's problem. If they can't come up with half now, what makes me think they will have the entire amount in two weeks when I am done with the work?
Up front money is a very good thing for tons of reasons.
Larry P
My standard retainer fee language
We require a 50% retainer as well on all jobs. Only exceptions are for the govt and regular clients that have a history of paying their bills on time.
I went to the dentist last Thursday. I have to go back in a week to finish the procedure and place a crown. They required that I paid half then and half when I go back next week. What is the difference?
And don't forget to photocopy that retainer check. Your collections attorney will love to have their banking data.
Assume the best but prepare for the worst.