This sad, sad excuse never ceases to amaze me! "We don't pay you, until they pay us!"
Let me say, to all of my SOT brothers and sisters, when you hear of this "policy", run the other way!
As a title company owner, I will tell you this much: WHETHER OR NOT WE GET PAID, WE MUST REMIT TO OUR SERVICE PROVIDERS. OTHERWISE, WE LOSE THE SERVICE!
When you buy a home, the lender requires an appraisal. Do you think an appraiser would drive to the property location, spend one minute of their time only to "wait for the purchase to go through before getting paid?" Get real.
To all title insurance companies or other institutions which call upon the services of others prior to providing your own service: PAY YOUR DEBTS IN A TIMELY MANNER. I, for one, would not like to have to wait 60 or 90 days to be paid for a title policy.
The sick part about this game is that solid, communicative, service oriented company's STILL lose business to these shleps who somehow snow their client base into thinking they are the best thing since sliced bread while giving the run around to those who are actually keeping them operational.
Sorry for the emotion. I just do not like swindlers!...JT
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