Posted by loancloser46 on 8/17/10 9:27am
Msg #349283

R AND R Closings......excuses ...excuses ...excuses....

Anyone else having problems getting paid????? I closed one early July and title has informed me that R and R was paid at funding, weeks ago. I have been told that my check is in the mail for a week now.
I received an email telling me that I am "rude". Why? because I am pestering them to pay me for work done when they were paid for it weeks ago. I call that being a "deadbeat".

The only good news is that the title company has requested for me to work dirctly for them as they did remember that I went out of my way at the last minute when the closing was moved 25 miles away.

Reply by MW/VA on 8/17/10 10:18am
Msg #349290

IMO it's always important to know a company's payment policy. Some pay at under 30 days, others a little longer. I only get concerned when it's over 45 days. Past due is 60 days.
I only occasionally have to call with a gentle reminder.

Reply by Jason Berger on 8/17/10 12:35pm
Msg #349318

My question to you guys: What do you do if the payment takes longer than 60 days? Do you contact the TC, what further action do you take?

Reply by BestFlCloser on 8/17/10 12:58pm
Msg #349326

I recently had an experience with a known deadbeat on the forums and went directly to the title company. They told me that since they paid the SS there was nothing they could do. I felt that the title company is like a general contractor and we NSA's are subcontractors, then they should be responsible. After a month a back and forths getting nowhere, I went to directly to the bank, and let them know what's going on in their name. I got my check from title 5 days later, by FedEx overnight. We have got to put a stop to deadbeat SS's running away from paying. There should be nothing stopping us from collecting money that is due and owing. Without us, those people up the food chain not get paid either.

Reply by Jason Berger on 8/17/10 1:13pm
Msg #349332

I COMPLETELY agree. I've written several emails and spoke to the guy several times. He's widely known for this, but he has always paid, just VERY VERY late. I mean he's a nice enough guy, and I maintain that he is a friend, but you NEVER cross friendship with business. These aren't favors I'm doing. We were business associates prior to be friends, so business reigns supreme. I thought about going to title companies and asked my dad who has been a business man for 35 years; he tends to agree with what the title company told you, essentially that you did business with the deadbeat directly and not the title company, and thus they are essentially absolved. I beg to differ. I rendered a service, and I should be compensated in a reasonable amount of time. I'm starting an Auction Company in Pennsylvania in November, and I've learned a lot about how I'll handle that from this business. Sorry for the novel.

Reply by SheilaSJCA on 8/17/10 4:52pm
Msg #349375

If this is the co. listed in SC, located in AZ. Please Link n/m

Reply by nolanotary on 8/17/10 5:46pm
Msg #349378

I did a cash sale for these guys last year...had to pressure them for payment. I called after 30 days to remind them about payment, sent email and called at 45 days. No response. Followed up with a certified collection letter and phone call...received payment at 63 days out. I will not work with these slow no payers unless I receive payment up front. I closed a cash sale for R&R, so I know they were paid within a day or so...no reason they could not pay me within 30 days.