Posted by JanelWI on 6/21/06 12:47pm
Msg #127273

When will it end!!

You know I don't know if some of these companies think they can charge the same fee for more populated areas as they do for rural areas, but this is getting rediculous. $125 for edocs, last minute closing, 42-50 mile round trip at...well, presently...2.99/gal is too high???
Somebody slap me! They said they will call back if they get into a bind. Forgive me if I am not waiting breathlessly by the phone. It may be slow this June, but I am willing to be patient.

Reply by Bob_Chicago on 6/21/06 12:58pm
Msg #127277

Not trying to tell you how to run your business, but.....

you might want to think it through.
I'm not sure if you meant 21 to 25 miles each way or
42-50 miles each way, but worst case is 100 miles total
At 25 mpg that would be 4 gallons of gas or abour $12
Last year it would have been about $8
You certainly would have made more $ doing this job
than you did staying home and being patient.

Reply by JanelWI on 6/21/06 1:01pm
Msg #127280

Re: Not trying to tell you how to run your business, but.....

Oh..no I am sorry, 42-50 miles one way. Not total. I got that wrong. Sorry! Most travel around here is between 25-50 one way. It is a rare pleasure that travel is under 20 miles one way!:-)

Reply by NCLisa on 6/21/06 1:10pm
Msg #127283

Re: Not trying to tell you how to run your business, but.....

How much did they want to pay you? $50.00?

Reply by JanelWI on 6/21/06 1:16pm
Msg #127285

Re: No kidding! No it was $75 with edocs and travel... n/m

Reply by Jahari Davis on 6/21/06 1:19pm
Msg #127286

Re: No kidding! No it was $75 with edocs and travel...

Thats laughable. $75 with edocs and travel? Thats as bad as my $50 with edocs from last week I was called about. I'm still peeved that they TOLD me what they WILL pay me. I dont blame you for passing on it.

Reply by JanelWI on 6/21/06 1:25pm
Msg #127294

Re: Jahari, have you ever told them you would take it

as long as the borrower comes to you? I have been pondering putting an office together and when the fee does not include travel, just give the company the option of having the borrower come to my office. It may be time to get my own office if these kind of fees are going to be the trend.

Reply by Jahari Davis on 6/21/06 2:00pm
Msg #127307

Re: Jahari, have you ever told them you would take it

No I never did. I've never thought of having them come to me and really dont want them to for now at least because I dont have an office. However I would consider that in the future.

Reply by Roger_OH on 6/21/06 6:35pm
Msg #127376

Hey Janel...

I was wondering when a fee from an SS or TC would NOT include travel? If BO's come to you, you're of course limited to what WI allows per notarial act (50 cents?) plus your edocs, if included. Not exactly a moneymaker.

Also, I'd say that most companies would not go along with the BO's coming to you, as the signing is supposed to be for the customer's convenience, and that's why they are using a MOBILE notary.

JMHO.

Reply by BrendaTx on 6/21/06 7:06pm
Msg #127383

Doing the job where they come to you...hmmmm

JUST thinking out loud a little bit....

If we separate our notary work on loans into "notary acts" and "signing agent acts" in Texas I'd still make $96 - $120 or more per job for the notary acts alone at $6 a pop.

I could charge $25 - $50 for printing.

Shoot...they come to me and pay me 1/2 notary price, I'll *not* charge them for being a signing agent if that's not doable for all the signing agent type stuff we actually do...more than just travel, I think.

I'd still make $60+$20 (net) on edocs WITHOUT leaving the house - $80 is not bad for a job where I just print docs and wait right here for them to come to me. SS's take note - I'll jump on it! Now THAT'S a profitable situation to be in.

However, what if they only want to pay a TRIP fee? There is not a trip fee...so...they will cut our notary fee...now, doesn't that get the notary invested in the transaction at that point?

1/2 of your fee - we don't notarize they don't sign. To me, that makes it more obvious why I have posed this idea of trip fees compromising the notaries position. I could be happy with $50 on a no sign right here in my house as long as they liked well behaved dogs and did not stink up the joint. LOL.

BUT - I don't care what anyone does...I am just thinking...less and less money for nsa's...etc. etc.

Reply by JanelWI on 6/21/06 10:42pm
Msg #127438

Re: True...staying mobile is more profitable.

We are there for the borrowers. I imagine it is different when you go to the Title Company for a day and help close. I just thought, if they pay you for that above WI, then why couldn't you have your own office? But your points are right.

Reply by sue_pa on 6/22/06 6:13am
Msg #127505

completely disagree

with your statement that you can only charge per notarial act. If they hand you only the docs that get notarized and you touch nothing else in the package, then that statement would be true. If you go through the entire package with them and obtain signatures, you are a 'signing agent' and get to charge for that service.

I agree that most companies won't want borrowers coming to you on a routine basis.

Reply by JanelWI on 6/21/06 1:20pm
Msg #127287

Re: I just think they were looking for someone close....

it is not alwasy possible in a more rural area. There is also time and travel involved. It is not just a matter of what gas costs, what the mileage rate is. paper, toner, faxing etc...My time is worth something. I have taken lower fees in slower months, but they generally are within $10 to $15 dollars of my original fee.

Reply by BetsyMI on 6/21/06 1:46pm
Msg #127301

Did I misunderstand?

In your first post you said $125 for edocs....later you said $75. There would be a big difference in my opinion of each.

Reply by Deborah Breedlove on 6/21/06 1:50pm
Msg #127303

Re: Did I misunderstand?

I think she meant that she asked for $125, and they said that was too high. They wanted to pay $75. I would have turned it down too.

Reply by JanelWI on 6/21/06 2:34pm
Msg #127317

Re: Did I misunderstand?

Yes, I quoted $125 and they were only willing to pay $75. If it was right in my town I would take it for $75. But just can justify the travel, time, docs etc...

Reply by Calnotary on 6/21/06 4:28pm
Msg #127345

Re: Did I misunderstand?

75 for edocs in your town? I wouldnt do it for that price, still doing 50.00 dollars signings?

Reply by JanelWI on 6/21/06 10:34pm
Msg #127433

Re: Oh...Cal, that comments bites!:-)

I have done overnight docs for that in my local radius. $50 dollar signings...no I am proud to say those infantile days are over. I've earned it. When I have to only drive 2-5 miles one way. Overnighted. Not so bad for $75. I fit it inbetween a full day. It all adds up. Driving 20+ one way for $75, overnighted or not. No. But as I said. The local $75 dollar jobs are so rare I can count them on one hand this year. I spend more most of my life in my car and some days it really shows!:-)

Reply by peterole_MN on 6/21/06 10:17pm
Msg #127428

Re: Not trying to tell you how to run your business, but....

In calculating your driving costs you might consider the following:

AAA Exchange
Composite national average cost per-mile for 2006: 52.2 cents ...

You have to consider costs other than just gas...unless your car does not depreciate and your insurance and car maintenance is free.

Reply by JanelWI on 6/21/06 10:37pm
Msg #127437

Re: Peterole...I very much agree.... n/m

Reply by PAW on 6/22/06 6:01am
Msg #127503

And don't forget YOUR TIME it takes to make the trip n/m

Reply by BrendaTx on 6/22/06 6:27am
Msg #127508

Re: Not trying to tell you how to run your - Peterole

is right.

I consider around $.50 per mile to be about right. If the job is 20 miles away - that's $20 for the car. (40 miles x $.50 = $20)

Reply by BP/WV on 6/21/06 9:38pm
Msg #127416

My favorite is when....

they say "and we have you down for $55.00." I dont know where they pull those fees from, but they never are even close to my fees. Just today I had to decline three signings because they could not meet my fee.