Posted by Elizabeth Rinert on 8/16/12 3:04pm
Msg #430719

2 properites 2 loans onE signer location. 1 PRICE?????

got a signing call, good money, then the man called me back and told me there are two properties at the same loaction for the same signer and offered me an additional 75 to do the second siging. I asked about an additional print fee and he told me no. Is this normal?

Reply by Lee/AR on 8/16/12 3:06pm
Msg #430720

No n/m

Reply by Elizabeth Rinert on 8/16/12 3:09pm
Msg #430721

Re: No

what is n/m?

Reply by Lee/AR on 8/16/12 3:10pm
Msg #430723

is automatically added when there is No Message n/m

Reply by janCA on 8/16/12 3:10pm
Msg #430722

Re: No

The only thing I would cut out is if there were a travel fee, otherwise, double the fee or give small fee break since you are already there.

Reply by MW/VA on 8/16/12 3:15pm
Msg #430724

Many cos. offer 1/2 price on a 2nd signing at the same

time, I think left-over from the 1st & 2nd loan days. Only you can decide if you can make a profit from the overall combined fee.

Reply by Jessica Ward on 8/16/12 5:27pm
Msg #430744

Don't fall for it. You're printing four sets of docs

Remember two sets of docs for each property. You'd be a fool to accept this outrageous offer. If you cut a deal, cut travel charges on the second one, but don't give an inch on the printing.

Reply by Linda_H/FL on 8/16/12 5:33pm
Msg #430746

Agree. n/m

Reply by Roger_OH on 8/16/12 6:04pm
Msg #430752

I'd evaluate the overall situation...

depending upon distance, it's possible the print fee may be cancelled out by not having to travel for the second signing.

I'd also consider the relationship you have with this client (TC? SS?) and determine if this is a situation where potential of continued future business might be worth sucking this one up.

Can't comment on the circumstances, but it's your call either way; I just wouldn't dismiss it out of hand.

Reply by JanetK_CA on 8/17/12 12:07pm
Msg #430812

Re: I'd evaluate the overall situation...

Roger make some good points, of course, but don't forget, you also have a lot more time at the table to sign the second package. IME, it's not usually twice as much, but depending on the size of the package and how much notary work there is, it can be close. And it could mean being able to accept one less assignment.

Reply by notarydi/CA on 8/16/12 5:54pm
Msg #430750

Yes, I think it is pretty standard for the pay on the second loan to be discounted. You just have to determine your profit margin, how much future business you might get from this company, and go from there. You don't have additional mileage or trip costs, just print costs.

Reply by jba/fl on 8/16/12 6:08pm
Msg #430753

It is not "standard" that the second loan be discounted. n/m

Reply by jba/fl on 8/16/12 6:14pm
Msg #430755

Not finished - new computer.....woes.

It is standard if their is a second loan on the same property - ie, 1st and 2nd, but print fees are NOT included in that figuring.

Your post led me to believe that there are two properties, each with their own loan. In that case, there are two distinct HUDS, with each having their own costs, etc. The properties stand alone, individually, therefore, the loans and their pricing stand individually. also, the loans each have their own set of paperwork, probably in the 100-150 pages each range. Again, therefore, each must be priced for the printing involved, not someone who just wants a bargain.

You also said that you got a really good price, whatever that means. Must not have been that good or we would not be having this conversation.

Reply by RickG/CA on 8/16/12 11:31pm
Msg #430774

Re: It is not "standard" that the second loan be discounted

I would guess that the only fee being discounted is the one you've given. As the others have mentioned, a 2nd loan on the same property would garner a slight fee reduction.

In the last couple months, a couple sold a total of 4 rental properties. I was fortunate enough to have all 4, 2 different appts 2 properties each appt. Full fee for each property.

Discounting should be an exception not a standard. And should be at your discretion.

Reply by MikeC/TX on 8/16/12 6:13pm
Msg #430754

May be normal in today's environment...

...but that doesn't make it right.

The offer for signing the second is reasonable - you're already there, so there's no additional travel time, just your time at the table. However, you will be printing a second set of docs, and a second print fee is a reasonable request on your part.

Whether you choose to go along depends on your relationship with this company. If you've done work for them before and they've treated you well, you could consider eating the second print fee. However, if this is the first call from them and he's trying to pull a fast one ("oh, by the way, there's a second loan.."), that may set the tone for future business.

Reply by lindetteh_PA on 8/16/12 9:31pm
Msg #430766

I agree and disagree

I agree with the everyone who said you should get paid for 2 loans not just a 2nd. The reason a 1st and 2nd are discounted when closed together is because the 2nd is usually a smaller package. If you are closing 2 loans 2 properties then you could be spending double the time along with the 4 sets of docs, and you should be paid. I'm sure the TC is charging full fees on both. As far as discounting a long term client I wouldn't do that either. We are in business to earn a profit The TC will make double the profit and so should you. I had this same situation last month TC didn't tell me until docs were emailed when I called to get fee ajusted they offered 25.00 (print fee) I informed her of my fee 2xx and the reasoning behind it and they agreed with no problem my point is don't be so quick to give up your profits. This should be a slam dunk for you they don't come by too often.

Reply by CopperheadVA on 8/17/12 6:12am
Msg #430776

Re: I agree and disagree

I had one last May through a well-reputed SS that was a surprise 1st/2nd when the docs arrived. This SS had already had to "get my fee approved" for the $125 I was charging for the 1st. Then when SS forwarded the docs, they were clearly a 1st/2nd. I guess the SS was hoping I wouldn't notice because they did not offer any additional fee until I contacted them. Then they offered another $25!!! I said sorry, my minimum fee for this is $200. I declined her offer and she assigned it to someone else.