Posted by Dee_Fla on 4/26/06 10:28pm
Msg #116219

Does anyone charge a cancellation fee....

...if they cancelled less then 2 hours before the closing time?

I had a call today to do a closing. She said she got my name off the signingagent.com...well I kow i have on there my fees including my cancellation fees and yet I findt hat SS's still ignor my written and verbal awareness of my fees. Well I had even contacted the borrower and was just waiting for the docs when 1 hr b4 the closing they called to cancel. So I advised there of the cancellation fee. I got this long dreadful email that they will never pay for them making call, blah blah blah blah.... Well she seem to forget that often we do charge those fees cuz we had to turn down other closings for that time period.

I'm just wondering if anyone else charges for cancellations prior to the closing when it is less then 2 hours, and if so, how do you handle it appropiately?

Advise,
Dee

Reply by LilyMD on 4/27/06 6:03am
Msg #116236

Trying to get a cancellation fee is like trying to collect a late fee. Unfortunately, if I don't show up at the borrower's home, I don't get a fee. However, I do have some regulars that will pay a "print fee" if the cancellation happened after I printed.

Reply by Teddog_CO on 4/27/06 6:21am
Msg #116242

I get my print fee if docs have been printed. Suggest you keep track of the companies that have done the "cancel" thing at the very last minute several times. Or just tell repeat offenders that you will take it but no set time - do it when you have time so you don't lose a signing. So if they cancel again you have not lost anything. You have to do some culling to get rid of companies that cost you money and time.

Reply by hcampersFL on 4/27/06 6:33am
Msg #116244

ATM is the only company that has ever paid me a cancellation fee. I don't know if they still do it or not. I haven't worked for them in a looonnnngg time. There fees are way to low.
b.

Reply by BrendaTx on 4/27/06 8:18am
Msg #116255

I have gotten this type of fee from title companies in certain situations.

Reply by LawrenceOK on 4/27/06 9:28am
Msg #116269

I have only gotten cancellation fees from title companies, and then only if they cancel within an hour of the signing which is rare.

Reply by Beth/MD on 4/27/06 9:43am
Msg #116274

Yep, same here. Only from TC and in special situations....very rare.

Reply by BetsyMI on 4/27/06 3:06pm
Msg #116361

I have never charged anyone a cancellation fee but I've been pleasantly surprised a few times when I got a check for appointments cancelled at the last minute without me even broaching the subject.