What should a licensee do with an inspection payment received from a buyer?

When a licensee receives an inspection payment from a buyer, the most appropriate course of action is to deliver it directly to the inspection company. This practice maintains the integrity of the transaction and ensures that the inspection is scheduled and completed as needed. By sending the payment directly to the inspection company, it avoids potential conflicts of interest or issues regarding the handling of funds.

Depositing the payment into a trust account, while common for earnest money or other similar transaction-related funds, is not appropriate in this case, as the inspection payment should be handled directly between the buyer and the service provider. Holding onto the payment until closing complicates the process unnecessarily and can create issues if there are any misunderstandings about the funds. Sending the payment back to the buyer would delay the inspection process, which is counterproductive to the intent of having the inspection conducted in a timely manner. Thus, delivery of the payment to the inspection company is the most efficient and proper method to ensure that the transaction progresses smoothly.