Posted by CF on 2/18/08 7:40am
Msg #235749
In house closing fees????
I was hoping that some people could PM me about this?!?!?!?!
I am meeting with a local TC to do remote and in house closings. My fees for remote will be my standard fees. However, I am getting a little "stuck" on the in- house fees to quote. The TC office is 15 miles round trip- but will take 40-50 minutes to get to w/traffic round trip. So that has to be factored- time vs mileage.
Do you give a discount for back-to-back? Just curious what others do for thier in-house closing fee structure. Please...anyone PM me that is doing this or post whatever you feel comfortable with.
I am meeting with the TC tomorrow and need to get my fee schedule together. Thank you all so very much
| Reply by sue_pa on 2/18/08 7:44am
Msg #235751
one consideration for a 'discount for back-to-back'. We see how untimely appts. can be - if they schedule you for 4 back to back, you want to be sure you don't have several hours down time wiating for docs, waiting for borrowers, etc. I saw a long time ago that a title company did this to a notary and during her 'down time' she was bored so they had her doing office work - copying packages, etc. - free labor.
| Reply by Lee/AR on 2/18/08 7:58am
Msg #235753
No experience here, but, after reading Sue's post, I think you need to sit down & make a list of questions as to what they expect and what you expect. No point in offering discounts if you're going to be sitting around for hours waiting for the next borrower to show up. You may not be driving, but it's still your time---and no dime! And remember, you're still self-employed; no sick days, benefits, health insurance, etc.
| Reply by MistarellaFL on 2/18/08 2:38pm
Msg #235845
I have a minimum fee of $XXX, so that if I am not doing closings, I am still getting "paid".
Some companies are also willing to pay $XXX for a block of time, no matter how many closings are being done...say, $XXX for a 2 hour block of time, etc.
Something to consider.
| Reply by Ernest__CT on 2/18/08 2:56pm
Msg #235851
Always think in terms of time, not number of closings.
At a recent non-loan appointment I charged the lady $5.00 for the notarization, a couple of bucks for travel, plus $25.00 for having to wait for the doctor to sign one document in one place.
_Always, always, get paid for your time._ One signing in four hours, ... well, you do the math.
| Reply by CF on 2/18/08 6:24pm
Msg #235885
Thanks for the PM's and responses!!! n/m
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