Posted by Amy_CO on 10/5/05 10:38am
Msg #68939

What would you do in this situation....

I had a closing scheduled for 9/30 that I received through a SS. Went to it and borrower backed out because of too many discrepancies in the loan. Called the SS, no problem I would still get paid.

Last night I get a call from the borrower. He resolved the issues with the Lender and the TC emailed him new docs. They told him all he needed was a notary. He (the borrower) called me. I said I would do the signing (and in my mind mind considered how to approach this second signing in terms of fees).

I get to his house and he a) has printed the docs on letter size paper. I asked him if the TC or LO told him about printing the docs. He said, "no, they just said to print them and get them notarized." Okay... then b) he says, "oh and they asked me to get them dated 9/30." I of course said "no" and that everything I notarize will be for todays date.

Having said all this and the signing is now done, I'm not sure how to bill. Should I bill the TC directly for a second signing (and how much since the SS would be cut out) or should I contact the SS (since the HUD still has them in as the Notary under Notary fees).

Just want to be fair to everyone invovled.

Reply by MistarellaFL on 10/5/05 10:44am
Msg #68942

Only my opinion, not legal advice: You can only bill the SS once. They agreed to pay you for the one service you provided for them. The second time, you contracted with the borrowers. If there is any fee to collect, it would be from them, however, since there was no agreement to such, I don't think you could collect anything since nothing was done. You have to contract the fees before, not after, the transaction/meeting. You have to contract for the signing, what is paid in the event of a no-sign, what is paid if you only travel there but don't do anything....see where I am going with this?

Reply by Bonnie_CO on 10/5/05 10:50am
Msg #68945

I agree...You should have quoted a figure to the borrower, prior to signing the docs, in this case HE contacted you to come and do the signing. You might see if he's a really nice guy and will pay your fee since he did call you. Good Luck!

Reply by Amy_CO on 10/5/05 10:50am
Msg #68946

I had a feeling that would be the case. The borrower called me after the TC was closed (they are two hours ahead of me). I did leave them a message stating that the borrower had contacted me to do another signing. I didn't want to go behind the SS back for the second signing and bill the TC but I guess since the TC never contacted them I will eat this one. Live and learn.

Thanks.

Reply by CarolynCO on 10/5/05 10:52am
Msg #68947

Agree with Mistrella.
1. You were originally contracted by the SS who agreed to pay you even though Borrower did not sign.
2. Borrower called you -- SS/TC did not call you for second trip or re-sign.
3. It was your responsibility to go over your fees with the Borrower before meeting him, i.e., Colorado state allowed notarization fee and travel fee.
4. Contracting with the Borrower directly is different than the fee you contract with the SS/TC.

Reply by B__CA on 10/5/05 12:16pm
Msg #68966

Bill the title company, if you can put it in the envelope with the documents. You may just get paid. I carry invoices with me to fill out just in case I need them. I have had borrowers come to me and have billed title with no problem.

Reply by Anonymous on 10/5/05 12:26pm
Msg #68967

Re: just curious

were documents reprinted on legal size paper? were they printed with a laser printer?

Reply by Amy_CO on 10/5/05 12:57pm
Msg #68972

Re: just curious

No. I had no contact with the lender nor the TC. I just got a call from the B who stated that he had received the docs via email and that either the TC or the Lender (not sure which) told him to get them notarized. When I got to his house he had already printed the docs. I said it might be an issue that they are not printed on legal but he indicated they did not tell him one or the other size paper.