Posted by FLNOTARY45 on 5/18/07 1:37pm
Msg #190832

Help!

I was called by a title company for a signing on Monday which pays $75 for a 1st and 2nd. I just received a call from Nexus SS for a signing at the same time on Monday but they pay $160. I have worked with Nexus before and received payment within 2 weeks so I would rather do the signing for them. What should I tell the title company since I have already accepted the assignment?

Reply by BetsyMI on 5/18/07 1:42pm
Msg #190833

Ethically I'd say it's your responsibility to do the first closing.

However if you just accepted it today, I'd call and cancel while they still have time to get someone else.

Or try to do both, calling one of the borrower's to say you're running late if you can do both geographically and not be too late for the second one.

By they way, why would you do a 1st and 2nd for $75????

Reply by PCasey/CO on 5/18/07 1:44pm
Msg #190834

Why would you accept a 1st & 2nd for $75? You did accept the $75 signing, you shouldn't have accepted if you weren't willing to do for that price. If you are going to cancel I would suggest you do it immediately to give them time to re-schedule but I wouldn't count on getting calls from that title company in the future if you bail on them.

Reply by Jersey_Boy on 5/18/07 1:58pm
Msg #190838

Wow.... $75 for a 1st/2nd....

I think that works out to be less than minimum wage.

You'd be better off flipping burgers at McDonald's. There is a lot less liability,
and I hear they even give you an employee discount...

mmmm.... I love the shamrock shakes in march.

Reply by Carolyn Bodley on 5/18/07 3:07pm
Msg #190854

Re: "I wouldn't count on getting calls from that title

in the future"

You're kidding right? For $75 for a 1st and 2nd, exactly what will they have lost if they never hear from TC again? Accepting prices such as this is EXACTLY what's putting this profession in the sewer.

Reply by Lisa Prestegard on 5/18/07 2:11pm
Msg #190842

Please tell me what area of FL you are in....

so I know which of my Network sisters you are low-balling.
Honestly... why on EARTH would you take a 1st & 2nd for $75?

Or is it me? Have I fallen for some sick little joke?

Reply by Sylvia_FL on 5/18/07 2:13pm
Msg #190843

Ethically you acepted the signing so you should do it. Why on earth would you accept $75 for a 1st and a 2nd - and from a title company too! This has to be some kind of a joke!

Reply by FLNOTARY45 on 5/18/07 2:27pm
Msg #190846

Well, now that everyone has made me feel bad! I have worked it out to cover both signings. Thanks for the advice...Live and learn.

Reply by cyndi_ca on 5/18/07 2:31pm
Msg #190847

I don't think the intent was to make you feel bad, just honesty. You are not helping yourself or any one in this business when you take such a low fee. Times are tougher right now, but that is when we need to stick to our guns the most. Our service is very valuable you fee just makes it look like a monkey could do this.

Reply by Sylvia_FL on 5/18/07 2:57pm
Msg #190850

Consider this - you call the company that was only paying $75 and fabricated a reason why you could not do the signing, so they find someone else.
You accept the higher paid signing, and then the company calls you back to cancel because they found someone who would accept a lower fee?
How would you feel about that title company?? Shouldn't feel bad because basically they would have just done to you what you had done to the lower paying company!

No-ones intent was to make you feel bad, but you asked the question and got honest answers.

Reply by SueW/Tn on 5/18/07 2:45pm
Msg #190848

Let me see if I got this question right

You took a sub low baller fee from a TC and now you're in here asking what kind of lie you need to tell them because you had a moment of insanity and you now want to take the higher fee? This is an unethical act, pure and simple. You need to go back over your business plan and figure out what possessed you to accept a piggyback for p-nuts obviously without attempting to bargain the price up. Actually this is so far out that it can't possibly be true.

Reply by jba/fl on 5/18/07 3:01pm
Msg #190852

Re: Let me see if I got this question right

It really would serve you right if both cancelled on you. Shame on you!
MHO

Reply by lenelle/FL on 5/18/07 3:09pm
Msg #190856

As Lisa asked, Where are you in FL? n/m

Reply by OR on 5/18/07 6:46pm
Msg #190876

Re: Try to do both/but do the first one like you excepted

It is the weekend you have time to do both.

Reply by Linda_H/FL on 5/18/07 6:49pm
Msg #190878

Re: OR...they're both for Monday at the same time. n/m

Reply by Terri/Fl on 5/18/07 8:43pm
Msg #190894

Need to know what counties you cover! Please let us know!

$75.00 for a 1st and 2nd is unheard of.....you are selling your professional services for peanuts and then when a tc calls us they say well there is another closer who will complete the closing for that fee....why can't you.!!! I would of called the tc immediately and told them the truth....that you made a mistake and that amount cannot possibly cover your expenses such as paper, toner, gas etc not to speak of your time and energey dowloading these docs and making 2 copies....then you have to drive there and back and yes there is the time you spend with the borrowers having them sign the docs....then there is driving to UPS/FED Ex not so speak of any fax backs etc. As you can see there are lots of responsibilities when closing a loan and no shortcuts. The tc knows when there is a lowball fee and of course they are not going to hold your hand and say are you sure about that fee....no they don't lower their fee to the lender........they just get to pocket the extra money. The money that should of gone to you in the first place. If you are not sure about how much to charge I always say I'm in the middle of a closing I'll call you back in 5 mins....this gives you a few minutes to get your head together before you throw out and quote a fee.......but you MUST call back immediately. Live up to your promise to return the call. I would NEVER close a 1st & 2nd for $75.00, if I had made a mistake.....confess it was a mistake and tell them you are in business and must cover your costs and make a few dollars to STAY in business!!!

Reply by hcampersFL on 5/20/07 8:07pm
Msg #191032

I hope you have fun doing these type of appt.'s.
This keeps all the lowballers from calling me. Thank you! You are doing me a favor and making sure I have time for all the GREAT company's that call me and want to treat me fairly and professionally.

Really, carry on smartly taking all the low ball calls. It's making me rich and paying my bills!!!
Your the best player on my team!