Posted by Anonymous on 6/5/06 7:59pm
Msg #124177

NC Notaries Fees

Dear notaries of NC.

Reply by Anonymous on 6/5/06 8:08pm
Msg #124181

Can we come to an agreement of 75 ( I would rather have 100) as a minimum for a closing fee. I have had several companies call within the last 2-3 months offing 50-65 for closing fee. I had brought my fees down to 75 at the minimum. They said they will get back to me and never do. There is someone or some people who are doing 65,50 and 40 dollar signings. I ask that you please up your fees to at least 75. After all is said and done with driving faxing printing and the time doing the closing 50 dollars just isnt enough. If this is a side business please know that there are people who do this full time and need 2-3 closings a day at 100 and over to make their mortagage payments. The were a few compaines who used to pay 100 a closing and now are down to 65 they used to be a great customer. They always find someone to do these closings. Before whoring yorself out for 50 please remember that if we stick together we can get fees up to 75 and a 100 where they should be. Thank you.

Reply by NCLisa on 6/5/06 8:27pm
Msg #124185

I don't leave my house for less than $100.

Reply by MichiganAl on 6/6/06 2:51am
Msg #124217

"Can we come to an agreement of 75 as a minimum?"

No, we can't. That would be price fixing. And that's one of the reasons we avoid answering this question directly. I don't necessary disagree with some of your thoughts, but this is something that is the responsibility of each one of us as business owners to decide. That said, I see no model in which $50 signings make for a successful business.

Reply by hcampersFL on 6/6/06 7:15am
Msg #124228

I get it about the "price fixing" but I understand the

frustration that this poster is feeling. I think we all do.
b.

Reply by NCLisa on 6/6/06 9:01am
Msg #124254

The notaries that charge so little, are new, clueless and not making any money. It will catch up with them, before long. I get called often to go to borrowers homes with a new set of docs, because the previous notaries made so many errors, or had the borrowers sign with the wrong names, etc.

Even those times where I may not have a closing for a couple days, I am not tempted to lower my fees. Everytime I have accepted a lower fee in the past, it has come back to bite me with time spent, gas, number of fax backs, and usually an insane number of phone calls from an SS.

The people that do the $40 and $50 closings here in NC, will be out of business soon. Since our closings are so spread out, that barely covers gas and driving time. Wait til they realize how much they are spending in paper and toner, insurance, etc.

Reply by Joseph Miller on 6/6/06 10:48am
Msg #124291

I am also A full time certified signing agent in NC and noticed business has stopped, it has been dead. I charge minimum of $75 if its within 30 miles rt from home and no edocs.
I have been considering lowering fees because I too need to pay bills I used to get at least 3 a day now the last 2 weeks Im lucky if I got 3 all week.

Is it slow for everyone or is it me.

Joe/NC

Reply by BeckyNC on 6/6/06 2:33pm
Msg #124346

I have been pretty slow for the last couple of months as well. Mostly this is because I am turning down all the $45 - $50 work. Either someone or more than one someone in my area is taking these low fees, or the lenders are telling the borrowers to find their own notary. Frustrated as I am, I am not lowering my fees simply because business is slow. With gas prices remaining high, prices on all other consumer goods are also rising, which means my cost of doing business is increasing, not decreasing.
I have been seriously considering starting a networking group in my area, in hopes that we can meet to talk about issues like price. While I can't and won't suggest a minimum fee, I CAN educate some of the part timers and low ballers in basic business math and break even analysis. Then maybe we'll have an epiphany of sorts. If anyone is interested in helping to get a group going in the Western part of the state, please contact me - click on my name to link to my profile.