Posted by notinfl on 10/12/05 1:24pm
Msg #70040

Purchases-

how much would you charge a SS for a purchase signing? There are more parties involved and it is usually time consuming, borrower's always late(had to go to the bank) NO disbursement of money was mentioned and since it is a "rush" I figure everything will be mailed from the TC.
I rather stay away from them but for this particular one the SS is begging me to do it...
TIA for your advise

Reply by TitleGalCA on 10/12/05 9:06pm
Msg #70129

In my experience I haven't ever found purchases to be more time consuming that refi's.

Reply by TitleGalCA on 10/12/05 9:17pm
Msg #70133

Re: Purchases- make that "than"...not "that" N/M

Reply by PAW_Fl on 10/12/05 11:13pm
Msg #70169

Boy, it must be nice. I've had irate sellers and buyers almost go at it tooth and nail. I've had attorneys who couldn't agree on anything, though the seller and buyer were happy. Then there's the one which the title company hadn't finished the title search until we were sitting at the table and, you guessed it, there was a cloud that needed to be satisfied by the seller before the commitment would be completed. Buyer was PO'd to say the least. Their moving van was sitting outside the realtors office waiting for keys. It didn't happen.

Now, in office title closings seem to go a whole lot smoother, for some reason. Especially new home purchases where the seller is the builder. I can do those all day long. AAMOF, I do do them all day long at EOM after Refi LSD (Last Signing Day).

Reply by TitleGalCA on 10/12/05 11:27pm
Msg #70171

***Now, in office title closing seem to go a whole lot smoother, for some reason. Especially new home purchases where the seller is the builder. I can do those all day long.***

Yes, we all can

Regardless, I have no reason to charge more for a purchase than a refi, IMHO.

Reply by CarolynCO on 10/12/05 9:25pm
Msg #70138

I've done signings for both purchasers and sellers -- although not both at the same time. I haven't experienced any of the things you have described, and the signings have never taken me any longer than a refi signing, thus I've never felt that I should charge more. JMO and experience.

Reply by CarolynCO on 10/12/05 9:44pm
Msg #70144

Re: P.S.

As I said, my experience has been with purchasers only or sellers only. With the initial call, it is important to ask who all will be at the signing, and then set your fee accordingly.

Reply by taxpro on 10/13/05 1:35pm
Msg #70287

I do charge extra for a purchase. If I'm just signing with the borrowers/buyers, then it's an extra $25. If it's both the sellers and buyers, an extra $50. That's actually pretty cheap considering the extra time, effort, and grief.

First, if the docs are email, you make lots of extra copies. The loan docs usually just go to the lender and/or title company, and borrower. But Huds go to the lender, borrower, seller, and both realtors. All 6 or 7 copies have to be signed by both parties because everyone gets a signed copy. Also, there are some other docs associated with the purchase that are signed by all, and go to all parties involved. And if anyone brought their attorney, you might be there all day. In fact, the more people involved, the longer it will take. The last one I did, the buyer's realtor kept chiming in, she repeated everything I said, after I had given my spiel on it. I think she was #1) trying to justify her existence, and #2) wanted to make sure the deal went through because her commission was rather exhorbitant. I wanted to tell her to go sit in the corner and be quiet.
Second, there is no recission period with a purchase. That means they read every word of every doc. Especially the buyer. Buying a house is a major event, and once they sign, there's no going back. The signing can take forever.
In my experience, I definitely earned the extra fee with purchases.