Posted by Anonymous on 1/2/06 7:27pm
Msg #85678
starting a signing service
Ok, so I am probably crazy but I am looking to make more$$$. Not get rich, just more money. I have several notaries known to me that want to work for me. I have know all the don'ts since I have delt with so many strange companies. Any advice????I want to make it work, not be a fly by night company. I can't stand all the low ball ss out there so I also intend to pay ok. I welcome any suggestions.
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Reply by BrendaTx on 1/2/06 7:35pm
Msg #85680
No, you are not crazy. You should make a business plan and consult with your local chapter of SCORE. Also, look into SBA.gov. Both are free resources. SCORE will consult with you and let you know what you need to be a viable business. A business plan will tell you if you will get more money out of the deal or go broke.
SCORE http://www.score.org
SBA http://www.sba.gov
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Reply by Anonymous on 1/2/06 7:53pm
Msg #85683
I actually have several title company contacts and one title insurance company contact. I will also have my title license. I want to do this since I know what we are worth. All advice is greatly appreciated.
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Reply by Roger_OH on 1/2/06 8:19pm
Msg #85684
See message # 85109 for a dose of SS reality to consider before you take the plunge.
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Reply by Anonymous on 1/2/06 8:40pm
Msg #85686
Thank you Roger, I just finished reading all the comments. I am in this business as an SA because I was a mortgage processor and decided to stay home to raise my family. I understand the importance for accuracy and strive for excellence. I am not just in this to make money, I enjoy the crazy life. As I said I welcome all comments. Thanks for yours!
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Reply by BrendaTx on 1/2/06 9:51pm
Msg #85692
Re: starting a signing service--Just Curious Anon
I think as a mortgage processor you could process at home and make a little extra cash as well. Have you looked into that?
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Reply by Anonymous on 1/3/06 1:44pm
Msg #85775
Re: starting a signing service--Just Curious Anon
never thought of that actually. But I like doing the closing end of it now.
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Reply by Sylvia_FL on 1/2/06 10:18pm
Msg #85696
Make sure you have enough capital!
There are times when title companies owe me over $3,000 - and that is money I have already paid out to the signing agent. You have to be able to pay the signing agents regardless of whether you get paid or not as you are the one that hired the SA. You need to be absolutely sure of the experience of the signing agent you hire so you can guarantee their work to the title companies. You need to pay whether the docs get signed or not, if the signing agent goes out and spends time with the borrower then they need to get paid their full fee. They need to be paid in a timely manner.
You need to pay a minimum of $75 for overnight docs and a fair fee for edocs (whatever the signing agent charges for edocs - and you shouldn't be making any extra money because it is edocs, the whole edoc portion of the fee should be paid to the signing agent)
Being a signing service is not as easy as some signing agents think it is.
You really need to think it over carefully before embarking on this side of the business. Also be aware that a lot of signing agents are wary about signing up and working with new signing companies.
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Reply by Anonymous on 1/3/06 1:41pm
Msg #85774
thank you for your information. This should be an interesting adventure.
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