While I do think it is commendable that Don chose to post some information about his hardship, I agree with Wendi. When a company orders a title search from an abstractor, payment is NEVER contingent upon getting paid by a third-party. That fact that Title Search USA lost a client is of no consequence. Don doesn't state that he didn't get paid - only that he lost business. Therefore, why weren't the abstractors paid?
Don is correct that "only a few big companies can weather that and perform on a nationwide level profitably." Too many companies grew too fast and were under capitalized for their aggressive expansion. When naive business owners expect the "good times" to last forever, and paying their obligations to their abstractors is not their top priority, I really find it hard to empathize. Depending on tomorrow's orders to pay for yesterday's searches is unethical. When a title search is ordered, the company should have the money to pay for it; at the very least the earnings from that order should be earmarked to pay the abstractor. Anything less is just irresponsible. Any company that cannot do that, is under capitalized and is operating out of its league.
Best,
Robert A. Franco
SOURCE OF TITLE
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