Posted by Pooh/CA on 3/3/05 1:23pm
Msg #23457

Charge for waiting time

I have noticed variations in the charges for waiting time. I'm pretty new and would like to know what the average waiting time is before you start charging and if there is a standard rate.

Reply by Art_MD on 3/3/05 1:31pm
Msg #23458

I'm not really sure what you mean by waiting time. If I go to the borrowers home and no one is there, I call whoever gave me the assignment and let them know. (after trying all the borrowers phone numbers). Usually they will say wait 15 min (or 30 min).
One time I called the borrower's cell and was told he was running 45 minutes late. I called the title company and did get a fee increase.
IMHO - over 1/2 hour - extra fee.

Art

Reply by Pooh/CA on 3/3/05 1:34pm
Msg #23461

Some of the notaries I've spoken to get an extra $30.00 a 1/2 hour in waiting time if the client is running late. These fees are told to the SS in advance.

Reply by Art_MD on 3/3/05 1:49pm
Msg #23467

How you structure extras can vary area to area.
If yu don't have a good relationship with the SS, I wouldn't bring it up until I've done a number of signing for them. It could put them off. After you have developed a good relationship, I'd handle it on a case by case basic. It might be worth the money you don't charge to let them know you are willing to work with them. They may work with you. Some of the people in this business (SS and title co) actually are pretty nice people. They may remember that you went out of your way to help them. One extra signing will more than make up for the lost 30 minutes. They may work with you i.e. they have a 6:00 closing and you already have a 5:00. You know you can't make it until 6:30. I have several title companies contacts that will say " we'll call the borrower and change the time".

Art

Reply by TaraPA on 3/3/05 9:20pm
Msg #23545

I had a signing today scheduled for 9am. I didn't leave until 11:30 b/c the atty was there going over the docs with a fine tooth comb. How much extra should I charges....by the way, this should have only been an 1/2 hour of my time.

Reply by Ernest_CT on 3/3/05 10:01pm
Msg #23555

I'm with Art!

Be flexible. If you expect some lattitude when you make a small mistake, or some slack when you're running late, or ...., then just tell the signing service when the borrower arrived, and let them thank you. A long time ago someone told me the difference between a customer and a client: A customer buys once; a client buys over and over. Develop a relationship by being nice.

Reply by Pooh/CA on 3/3/05 10:26pm
Msg #23563

Re: I'm with Art!

I Agree with you 100% Art! Thanks !