Posted by PA_Notary_II on 11/11/06 11:07am
Msg #159028

The longest closing of my career (long)

Seven hours and fifteen minutes from the time I left my office til I got back from UPS. A purchase closing from an out of state TC and they had no clue. Went through 4 new HUDs and had to do all the tax prorations at the table as the TC said that wasn't necessary as the buyers could just reimburse the sellers at the table for previously paid taxes. WHAT? Then they charged all the transfer taxes to the seller's side of the HUD because 'that's the way we do it in our state'. WHAT? Then they wanted to wire transfer the sellers funds and the sellers refuse to sign anything unless thet get a check today! Not to mention that wire transfers are usually cut off in most places between 1 and 4 PM. OK...got the sellers to agree that they would accept wire transfer with a faxed verification of the transaction being completed and got the TC to re-do the HUD with the pro rated taxes included and the transfer taxes split equally between buyers and sellers. AND this TC closer says that her boss is in Canada and unavailable for questions. What a mess. Started with the TC sending the package to the Realtor's office instead of my office...said they didn't have my address..WHAT? all they had to do was call and ask...so I had to leave early to get the package unpacked and sorted out....left my office at 11AM and got home from UPS at 6:15PM. ARRGH!! I wanted so badly to leave the table, but the poor buyers were new to the area and just wanted to get it done. They had to go to the bank for an additional $5200. Certified check and said they had to max out their credit cards to make it work. They will be reimbursed since it was a 'relo' deal. I was fortunate to have had the rest of my closings early in the day or I would have missed out on any other potential business. Sorry for the long rant, but I'm still beside myself over this mess. Now I'm waiting for them to blame it all on me! There oughta be a law!

Reply by Julie/MI on 11/11/06 11:23am
Msg #159032

This is why purchases belong in a title company with coffee and donuts!

I had one where the ditzy loan officer didn't bother to tell the first time homeowner to bring certified funds, the purchaser brought cash. So I had to wait so they could find a party store that sold money orders. Loan officer looks at me like I'm the space cadet. I hate when they make the mistake and try to blame it on me.

Some purchases that are from a builder can work out okay, but buyers and sellers in a room require a local title company.

Reply by Signing_Doc on 11/11/06 11:25am
Msg #159033

lemme guess...all this for a mere $50.00 fee?...just kidding n/m

Reply by PA_Notary_II on 11/11/06 11:33am
Msg #159034

Re: lemme guess...all this for a mere $50.00 fee?...just kidding

No, Doc...but did reduce my income to around $30/hour.

Reply by MichiganAl on 11/11/06 8:32pm
Msg #159134

7 hours? I'd ask for triple my fee. n/m

Reply by Margaret_FL on 11/11/06 9:08pm
Msg #159144

The longest closing I ever had took 12 hours and the borrower cancelled. Called me crying the next day (Sunday) and told me she was going to cancel. She was dying of cancer and was refinancing
to cash out to pay her son's student loans from medical school. Was expecting the docs at noon for a 4pm closing, doc did not show up until 8pm got to the closing at 9pm, she cried after siging each page. She was a doctor and also complained because her name on the doc did not have Dr. after them. Was on the phone with LO all night and he convinced her to sign, but she still cancelled.
My heart went out to her and by the way, I got my full fee thank god. I did not get home until 1am.

Reply by CaliNotary on 11/11/06 9:32pm
Msg #159152

"I wanted so badly to leave the table, but the poor buyers were new to the area and just wanted to get it done"

Yet another case of one of us screwing ourselves over because of the "poor borrowers". Why do so many of us assume that if we don't close the loan personally it just won't get closed?

I care about my "poor business" and my "poor checking account" more than I do about the poor borrowers.

I would have left the table, told them to call me when everything was worked out and that I'd be expecting a second full fee to come back out again. Then the "poor borrowers" still would have it done and you wouldn't have wasted an entire day dealing with somebody else's incompetence AND you would have been rightfully compensated for your troubles.

You have nobody to blame but yourself for allowing it to happen to you.

Reply by MichiganAl on 11/11/06 11:51pm
Msg #159190

Leaving the table

Yeah, I had that happen about a month ago. I had nothing to do with resolving the issues, it was a Saturday, the l.o. was going to drive back to his office to get things corrected. There was no reason to just sit there. I told Mr. Borrower to call me when everything was good to go, I worked out at the Lifetime Fitness a few miles from his home, had lunch, and got his call to go back. 15 minutes later I was done, and the SS insisted on paying me for the second trip without me even having to bring it up.

Reply by CaliNotary on 11/12/06 11:42am
Msg #159243

Re: Leaving the table

Exactly. Even if you don't go and do something more productive, it's still less frustrating if you're sitting at Denny's reading the paper and having a cup of coffee then it is to be sitting there wondering if and when it's all going to get worked out.