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TOPIC: Home Inspection through escrow

Home Inspection through escrow 7 years 11 months ago #59252

Being relatively new, I got a call from someone that wanted to know if I did inspections through escrow and I didn't have an answer for them. Maybe I lost a job, but I honestly didn't know what was involved. I knew that I could perform the inspection, but I didn't know what was involved in the procedure. Can anyone give me an idea what's involved and the pros and cons of doing inspections through escrow besides waiting for payment?

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Mark Smith/Owner

Title:House To Home Inspections LLC
Url: www.housetohomellc.com
url path: upland-home-inspections.html
Body: Upland Home Inspections performs home inspections in Upland, Claremont, Rancho Cucamonga, Riverside, Los Angeles and Orange Counties and all of Southern California....

Re: Home Inspection through escrow 7 years 11 months ago #59253

That's all they wanted, to pay you later. It's fine to do this but you need to send them a contract requesting their credit card information and let them know that if escrow should fall through the credit card will automatically be charged.

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Dominic Maricic
Home Inspector Pro Home Inspection Software - CEO

Re: Home Inspection through escrow 7 years 11 months ago #59254

Here is a personal example.  My son is buying a house.  A short sale.  It went under contract on August 8th. He got it for $40k under appraised value.  Being a short sale, it takes time.  In this instance there are 2 lien holders.  One has approved, one hasn't.  At this point, they are expecting to close sometime in November.  So you have to ask yourself:  Do I want to wait possibly 90 days or longer for payment?  As a new inspector, unless you have a years worth of income saved up, you are going to be needing your money sooner than that.  So unless you are doing 5 or more inspections per week AT A PROPER PRICE, I wouldn't recommend it.  In almost 10 years, I have only been asked 3 times.  At the same time, there are geographical areas where this is common practice.  It is something that you need to decide for yourself. As Dom said, make sure you have a back up form of collection in case the deal falls through.  I'm not a credit card proponent so a post dated check would be another possibility.

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There is nothing sweeter than the smell of fresh cut grass on a baseball infield, the click of a wooden bat and the taste of a hot dog at a warm sunny daytime double-header.

Re: Home Inspection through escrow 7 years 11 months ago #59272

If the inspection is to be paid out of escrow are there papers that must be prepared and sent to the escrow company along with a invoice prior to performing the inspection? (California)

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Mark Smith/Owner

Title:House To Home Inspections LLC
Url: www.housetohomellc.com
url path: upland-home-inspections.html
Body: Upland Home Inspections performs home inspections in Upland, Claremont, Rancho Cucamonga, Riverside, Los Angeles and Orange Counties and all of Southern California....

Re: Home Inspection through escrow 7 years 8 months ago #60179

This is really very informative information!! Actually, I never thought to inspect my house, but now after reading your article, I am thinking to get done inspection of my house also. Do you know any Palos Verdes Home Inspector Service company?

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