Understanding and Using the Pay at Close (PAC) Payment Option in Spectora
Overview of Pay at Close (PAC)
Pay at Close (PAC) is a payment option in Spectora that allows clients to pay for inspection services through escrow at the time of closing. This option is designed to streamline the payment process for both inspectors and clients. A flat fee of $50 per inspection is charged for using PAC, which is deducted from the inspector's payout. Clients are not charged any additional fees for using this option due to regulatory restrictions.
Setting Up Pay at Close
To enable PAC in Spectora, follow these steps:
Activate Spectora Payments: PAC requires Spectora Payments to be enabled, as this system handles payment distribution.
Enable PAC in Settings: Navigate to
Settings > Payments > Pay at Closeand toggle the option on. If you do not see this option, you may need to request access from the Spectora team.Configure Services: PAC can be enabled or disabled for individual services in the
Services & Feessection. Ensure that the "Pay at Close" box is checked for the services you want to offer with this payment option.
Using Pay at Close
For Inspectors
Once PAC is enabled, it will be available for any unpaid inspection that includes a service with PAC enabled.
If additional services are added to an inspection, the updated invoice will include these services under the same PAC arrangement, provided the payment has not been finalized.
For Clients
Clients will see both "Pay Now" and "Pay Later" options in their portal. Selecting "Pay Later" initiates the PAC process, which includes entering closing details, signing an agreement, and providing a backup payment method.
Troubleshooting Pay at Close Issues
Common Issues and Solutions
PAC Option Not Visible: - Ensure the inspection includes a service with PAC enabled. Adding PAC as a manual line item will not make it appear. - Verify that the client's last name is entered, as this is required for PAC eligibility.
PAC Status Not Updating: - Confirm that the client has completed all required steps, including signing the agreement and providing backup payment details.
Reinstating PAC: - If PAC is not available after rescheduling an inspection, reorder or copy the inspection to reapply PAC options. Contact support if the report has not been published.
Switching to PAC After Initial Payment: - Refund the original payment in Spectora, then guide the client to select PAC in their portal.
Regulatory and Fee Considerations
The $50 PAC fee cannot be passed to clients due to state and federal regulations. Inspectors can adjust their pricing to account for this fee.
PAC is not available for listing inspections, and the closing date must be within 60 days of the inspection date.
Frequently Asked Questions
Can sellers use PAC? - While PAC is typically used by buyers, sellers can use it if they schedule the inspection.
What happens if PAC is enabled after an inspection is scheduled? - PAC will be available for any unpaid inspection with eligible services. Direct clients to select PAC in their portal.
Why might an inspection show as unpaid before closing? - Payment is collected from closing proceeds or the backup payment method if closing funds are not received.
By following these guidelines, you can effectively set up, use, and troubleshoot the Pay at Close payment option in Spectora.