Posted by TNotary on 7/13/05 12:11pm
Msg #51616

My Minimum Closing Fee Is 75.00 regardless......

somebody make me feel better....I have turned down several closings because the SS will not pay my minimum fee. I have been in the business for many years and I am worth a minimum of 75.00. I just hate turning down business!

Reply by oldhippie_IL on 7/13/05 12:12pm
Msg #51618

I feel the same way. I think that $75.00 is fair. But guess what, they never call me back, so they do find some else to do the job cheaper.

Reply by calipat/ca on 7/13/05 12:13pm
Msg #51620

I also will not work for less than 75.00 and even that is a bit low considering the price of gas. I also hate turning down anything, but then who wants to work for free.

Reply by Notary4U on 7/13/05 12:18pm
Msg #51622


Don't work for less. That is such a samll fee for the work we do. Without our services they would have to have a local title company do it and that would cost much, much more. I don't work for less than $75 for anything, but the $50 heloc they have overnighted to the borrower or myself and the siging is less than 10 miles from my door step. THAT is UNNEGOTIABLE. And I will refuse them and they always call back, maybe not that day (unless they can't find anyone else) but they will a different day. They just do.

Reply by BP_WV on 7/13/05 12:15pm
Msg #51621

Same Here TN... my car does not move for less than $75.00. I was contacted by Veri-dox yesterday and had to turn down their $50.00 signing. It just isn't profitable for me to do those. I live in the mountains and gas today is $2.52 gal.

Reply by TNotary on 7/13/05 12:20pm
Msg #51623

You guys make me feel a little better....but somebody is taking signings for less. I hear people complain about the fees but I wonder how many of them are taking these cheap closings? It would be hard for me to justify taking these closings other than just needing the money to get by. Right now it's not worth it to me to take the signing, I hope that day never comes....

Reply by TNotary on 7/13/05 12:36pm
Msg #51628

Re: One more reason.....but it still hurts

To turn down business but when I consider I carry anywhere from 2500 to 3500 in accounts receivable waiting to get paid in the 30 to 45 days after closing....I just can't justify the fees.
I tend to believe the notaries taking these appointment must be part time and have another job and these frequent little jobs are just extra spending money!

Reply by peterole_MN on 7/13/05 1:14pm
Msg #51662

Re: One more reason.....but it still hurts

When someone takes a cheap job they probably don't realize that their auto costs for a mid sized car is about 55 cents per mile driven (includes depreciation, insurance, gas, etc accoring to AAA and Motor Trend Magazine). A 20 mile round trip at 50 bucks nets you 39 bucks. WOW! Figuring you time and liability, you might be better off working at the Golden Arches. I even raised the price to print edocs to 35 bucks per package (single loan with copies for borrower)...the laser cartridges must be related to the price petroleum, the prices never goes down.

Reply by calchape on 7/13/05 2:16pm
Msg #51690

Re: One more reason.....but it still hurts

I am one of those notaries working part time, but I would still never accept a signing for 50.00. I personally do not feel right doing that when fellow notaries are doing this for a living. I guess I don't have that cutthroat mantality!!

Reply by Amazed on 7/13/05 1:43pm
Msg #51675

See what I just posted before I read yours. I am AMAZED! Way to stick to your guns. Someone has to!

Reply by TNotary on 7/13/05 2:24pm
Msg #51695

Re: Amazed...Your Appreciated! n/m

Reply by Les/CO on 7/13/05 2:32pm
Msg #51698

Mine is $85. And yes, Even if it's been slow this week I turned down two. One yesterday for $60 e-docs (if you can imagine??) Glad I did, 'cause got a call a half hour later for $125. If I would have taken the $60 one I'd would have had to turn down the $125. I cannot understand why some SA's have one price for title companies, and another for SS? Do they just want to work for less, if so they should charge the title companies $50. (and put us all out of business.) I guess they think the people that run the title companies are stupid. They are not. Gone are the days that the title companies will routinly pay $250/400 for a closing. Why should they? The SS wants to charge $300, for a phone call, and pay the notary $50 (or nothing) The title companies KNOW this! They can hire a person just to make phone calls to notaries to do ther closings direct; say for $125 each, and not use the SS. Saving $125 plus a closing. And at 300 to 1000 closings a month that adds up. It will pay for the fulltime people to make signing appointments, PLUS!! The title companies have compitation too. And in most states they are regulated (on what they charge) the only thing they really have to offer is SERVICE. (providing a mobile notary is service, if they get the docs signed properly). NOTE all SS... the writing is on the wall! Your days are numbered! Or should be! The stupid $50 notaries have just compounded, and prolonged this problem with SS. Just SAY NO! and they will GO AWAY!!!!!!

Reply by CaliNotary on 7/13/05 4:04pm
Msg #51742

If you're happy with the amount of money you're making at this job that's all that matters isn't it?

Reply by Magic Lady CA on 7/13/05 5:11pm
Msg #51781

I feel better now. I had been feeling bad turning down anything under $75, even though I am not booked. I live in Northern California (way North!) and it can get real slow sometimes during the month, and I do this full time. You guys help me carry on...........

Reply by Anonymous on 7/13/05 11:05pm
Msg #51888

IS THAT INCLUDING E-DOCS?? I CHARGE 65 +30 E-DOCS MIN UP TO 15 MILES AND I AM ALSO TURNING DOWN 50 DOLLAR SIGNINGS . I DON'T GET CALLED BACK EITHER. BUT I AM STICKING TO MY GUNS. ESPECIALLY BECAUSE OF THE SLOW PAY. IT IS GETTING WORSE BY THE MONTH. MY BUSINESS IS GROWING GREAT BUT 75 % OF MY PAY IS 45 TO 60 DAYS . CAN'T PAY BILLS
WITH THAT MONEY. I HAVE HAD TO TAKE A PARTIME JOB TO HOLD ME OVER. I AM SO FRUSTRATED. I WISH THAT THERE WAS SOME SORT FO NOTARY LAWS FOR THE STATES WHEN IT COMES TO SIGNING PAYMENT GUIDELINES. WE SHOULD BE FUNDED FROM THED TITLE COMPANY. PLAIN AND SIMPLE.

Reply by Deno88TX on 7/13/05 11:01pm
Msg #51885

way to go, that's what i have to say, with gas prices as they are now, we need to keep it up at 75.00, today, 4 people wanted me to drive an hour away to do a $65.00 signing, i told them either pay $75.00 and a trip fee or now way.