TOPIC: Deposit made for Inspections

Ok, Dom had a good idea about deposits in another thread. so, I thought I would start one here and get opinions. Do any of us charge a deposit for our inspections, or do we get it all up front, or all at time of inspection? If you take a deposit, do you hold it if the inspection is cancelled? Also, how far in advance would they be allowed to cancel and still get the deposit back. Any thohgts on this?

I've never been a fan of deposits for something like an inspection. The only caution that I would ask is taking a deposit open you up to the the CFA (consumer fraud act). I know that with home improvements and contracting the CFA is a three headed dragon that is prohibitive to business. I am not saying this will be the case, only your Attorney can say. It is just the first thing that came to mind.  :

Drew

My dentist charges me if I don't show up for an appointment. I don't see why an inspector couldn't do the same.

Not in this market!  There are inspectors who will go out tonight on a phone call.  They'll take cash, check, credit card, food stamps and or bill escrow. Requiring a deposit or charging for a cancelation is not an option in my particular area and or business environment.

BTW, I won't take an inspection order until the client has an accepted offer in writing from the bank, not the seller of a short sale.  That alone will help to stop a lot of your cancelations.

So, in Wills' mind, most cancellations are due to not having a signed sales agreement for the  home? I buy that. But, if you guys have someone that is a price shopper and doesn't bother to cancel until the day before or day of, then what? Are you OK with that? I rarely have a cancellation, so I am just wondering?

I get price shoppers eveyday.  Had four call in for quotes today.  But they don't place an order when price shopping.  I'll ocassionaly have a caller ask can you hold a slot for me?  My responce is, do you have an accepted offer?  do want want to place an inspection order?  I'll need to get the property address, size, configuration, age, type of foundation and status of utilities for the property from you.

That normally gets the not so serious clients to say, no, I'm not quite ready yet....