Posted by Leon_CO on 3/9/07 12:05pm
Msg #179171

Closings at a restaurant

I have done several closings in restaurants, but I prefer not to.

I know, I know. We do this at the convenience of the borrower: whenever and wherever they want. So some of them figure, why not do it over a nice meal at a restaurant?

They don't realize what it entails until they're actually seated, and there's a big bouquet of flowers in the middle of the table, so there's little room for anything else. And after a few bites there are food stains on the documents. Whoops! Was that your drink that spilled?

I did a closing a few weeks ago at a Wal-Mart, where the borrowers worked. They wanted to sign the papers at the McDonalds.

I have a closing today at 1pm. at a Panera Bread shop. Hopefully the worst that will happen is that the lender will find bread crumbs in the loan package.

Reply by Tookie on 3/9/07 12:22pm
Msg #179172

I have done closings at a restaurant. Sometimes, you do what you have to do.

Since my closings are usually in the mountains and involve long travel distances, restaurants in town can be an attractive alternative.

First, I personally wipe off the table, then I tell the proprietor that I will order food AFTER the work is done so that they don't glare at us the whole time. Also, I tell the borrowers that until we are done, all drinks have to be in GO cups with lids. Finally, I try not to do restaurant closings during the busiest times (lunch or dinner).

Reply by OR on 3/9/07 2:16pm
Msg #179195

Re: I have the table cleared and leave a $5.00 tip and tks n/m

Reply by kate_nortca on 3/11/07 9:11pm
Msg #179495

Re: I have the table cleared and leave a $5.00 tip and tks n

I have to share this. Last year I agreed to meet a borrower in a neighboring town that I was not very familar with. When I arrived it was kind of a run-down burger joint and the man said to me "well now that you're here let's go someplace quiet, private and comfortable to sign the documents." As if we were on a date. I was incredibly happy to be at that tired old burger place and said no, let's just step inside, get you signed and then you can enjoy the rest of your day. Maybe he did not mean it to sound lecherous, I don't know. He definitely did not want to go inside the place HE told me to meet him at. He was sure we would be signing the documents over dinner at the location of his choice. Since then I only agree to meet at a restaurant I am familar with. And like another poster I declined to order, just signed and took my leave. So perhaps that's something to consider when getting together with someone at a restaurant. Make sure you are somewhat aware of the place before you go there.

Reply by Julie/MI on 3/9/07 12:24pm
Msg #179173

Take charge, Leon

You need to tell them when the location is determined, NOT TO ORDER ANYTHING UNTIL AFTER THE CLOSING OR GET A CARRY OUT!!!!!

Also, it's not fair to a restaurant with a wait staff to take up their space, go to Mcdonalds and get a drink on the way out.

Time is money and I cannot image dining and doing a closing. Just wouldn't happen and it doesn't happen with me because I convey to the borrower that food at the table is not happening.

Reply by Jersey_Boy on 3/9/07 12:32pm
Msg #179175

Suggest A Library rather than a restaurant.

Much easier. No crazy looks from others and no food to get spilled.

I utilize the Camden County Library a few times a year.

Reply by Blueink_CA on 3/9/07 1:25pm
Msg #179181

Re: Suggest A Library rather than a restaurant.

I had a closing last month in a library. It would have been perfect had the borrower not been a bit hearing impaired. As much as I tried to shout quietly, I still managed to get the stinkeye from the staff. I did alot of pointing on that one and I got'er done.

Reply by marlindog on 3/9/07 2:47pm
Msg #179209

I did 1 at starbucks today , I also lik the library n/m

Reply by cara on 3/9/07 1:34pm
Msg #179184

I too have had to sign docs at restaurants and never allow food on the table until everything has been signed. I like the idea of ordering drinks in covered to go cups for use during a signing.

I also would love to use public libraries which would be ideal. However, due to California government budget deficits, many local governments have seriously curtailed hours of operation for our libraries. Many are not open daily and their hours are limited.

The best place I use for off site signing is Kinko’s since they are open 24-hours, copy machines are handy, and they have tables and chairs for small meetings. If the docs are to shipped via Fed Ex you can sign and drop in one fell swoop! Again, this is a rare option since there are not many around here. I would like to know of any other places folks have used. Has anyone signed at large churches where borrowers (or you) are members? I have not, but have thought about suggesting it if I ever get in a pinch.

Reply by marlindog on 3/9/07 3:08pm
Msg #179213

south beach is the deal! n/m

Reply by Lee/AR on 3/9/07 2:32pm
Msg #179203

I nix 'real' restaurants. Fast food places are OK because, basically, the staff doesn't care that you're using a table & have only ordered a soft drink (lidded & untouched 'til I leave), no tips; nor can you get 'stuck' for the bill for what the Bs ordered in case they arrived early & ordered before you got there. Has never happened to me, but I've heard of it happening. I also tell them to please NOT order food until after the signing---don't want spilled drinks or ketchup on thier loan docs.

Reply by Jill/NY on 3/9/07 3:05pm
Msg #179212

I to have used McDonalds but I don't order food until we are done. Then I just get some chicken nuggets to bring home for the kids.

Reply by Stamper_WI on 3/9/07 8:17pm
Msg #179276

Did one in a truck stop today. all these big burly truckers sitting around eating what I wish I could eat! A little noisy but it went well. Somehow it didn't seem out of place as I am sure many of these guys have had to take care of personal business on the road. This guy hasn't been home for 4 weeks!

Reply by jojo_MN on 3/9/07 8:36pm
Msg #179284

How many times have you gone into a borrowers home where there is not a table clean enough to place a piece of paper on, where you had to balance the paperwork on a book on your lap, while sitting on a filthy sofa or chair because they don't own a table? I have many times.

I would never complain about sitting in a restaurant with a few crumbs on the table. It really isn't too hard to brush off the table or have the waitress wash it off. I do; however, try to avoid any rush hours so I don't tie up a table for an extended period of time.