Posted by EagleEye/Ca on 10/15/08 12:19pm
Msg #267378

Negotiating Signing Fees

I have escrow personnel ask me to meet their 'signer' (employee, agent, etc) at the appointment and ' you only have to stamp, sign and leave'.....Every time I agree to go lower on my fee...knowing that escrow agent's are really unaware of our cost of doing business...and I agree to do so (discounting) providing I can flip through the package completely...The signer ALWAYS goofs up something....So for a discounted fee I am saving them money because I 'catch and prevent' problems at closing before the signing is done. So from now on I think I will INCREASE my fee due to my expert handling of the entire signing!

Reply by MW/VA on 10/15/08 12:49pm
Msg #267379

I'm confused about this scenario. Aren't you doing the closing? Are they bringing you in just to notarize?

Reply by EagleEye/Ca on 10/15/08 1:09pm
Msg #267380

Trying to save money by handling the signing themselves. Me just in for notary. But in many instances on a sale closing it's too detailed not to have the notary peruse the package. Am I making sense ?

Reply by sue_pa on 10/15/08 1:29pm
Msg #267384

No, you're not making sense. If they are hiring you to be a notary only, why would you take on additional duties? Do what you are hired to do, period. If your client wanted to hire you to conduct the entire closing, they would.

Reply by EagleEye/Ca on 10/15/08 1:41pm
Msg #267386

Thank You! That's brief and to the point! I did my notary part right and
if the 'signer' fails that's not my problem. I am just in the habit of being
an extended set of eyes on the entire package's proper signing.

Reply by ME/NJ on 10/15/08 1:39pm
Msg #267385

Let me see if I have this right

You were asked to perfom notary work while someone else performed the closing or do you do the closing? Almost sounds like you are offering things you should not at a closing, prove ID and watch sign simple as that..

Now I had 2 this month where the escrow employee did the closing and I showed up for 10 minutes and witnessed 5 pages. In and out in a few minutes nothing to print or mail. I charged my Medical Record run rate (50) and I could only wish every closing was a simple as they were.

Reply by EagleEye/Ca on 10/15/08 1:47pm
Msg #267390

Re: Let me see if I have this right

That sounds great! Maybe it's different than my scenario....Arrive at sellers residence....have formal introductions to mr./mrs./escrow agent/listing broker/brother in law...agent talking all along about what a great job he did/great price. etc etc etc and by the time I get the notary work done it's 45 minutes and gues I am spoiled. I could have closed the whole deal in 20 min. without such ceremony and tension caused by so many participants! Have a good year end.

Reply by sue_pa on 10/15/08 3:39pm
Msg #267399

Re: Let me see if I have this right

okay, I get it now. If this was just a fluke, so be it. But, if you do this type work routinely, here's how I'd handle it. If the appt. were for 4:00, I'd let them know I'm arriving at 4:45 and they should have the docs to be notarized ready so that I can come in, notarize and leave. They can finish up any other docs after I'm gone if they haven't finished in 45 minutes. There is no need for you to sit there while the Note, Settlement Sheet, W-9s, etc. are signed.

Reply by Les_CO on 10/15/08 3:11pm
Msg #267395

Is Mercury in conjunction with Jupiter?
I know it’s a full moon, but WHAT….???? are these posts about???

Reply by EagleEye/Ca on 10/15/08 3:29pm
Msg #267396

Full moon probably plays a part! Sorry just frustration about all the many ways
folks are trying to get our service cheaper and cheaper....Have a fine day EE

Reply by Lee/AR on 10/15/08 3:49pm
Msg #267400

Agree with Sue...and understand your frustration

with all the silly games being played so they can pocket more of OUR fee.
To me, it's all about TIME...Mine! And if all they're willing to pay for is the actual notarized
docs, that's ALL that should be sitting there when you get there. Zip thru those & be gone for the 'cheap' fee they're paying. But to be held captive while somebody jabbers their way thru everything else & gets other docs signed is just plain WRONG. Abusive, too. But only if you allow it. Once--shame on them. Twice--shame on you.

Reply by CaliNotary on 10/15/08 4:28pm
Msg #267405

"Sorry just frustration about all the many ways
folks are trying to get our service cheaper and cheaper"

No, you're trying to give them more service than they hired you for. You have nobody to blame but yourself. If it should take ten minutes, don't donate and extra half hour of your time, and don't offer any additional skills other than notarizing.

Reply by Kathy Fletcher on 10/16/08 2:21am
Msg #267444

Make sure to note in your journal exactly what your instructions are before the borrower signs the journal. If the title company or lender complains that something in the rest of the package were not done right, you have notes to back up the services you provided. I personally will not agree to their terms to do this type closing where I would present the entire package. I do not wish to have my name attached to a loan package I did not complete. If the package had problems, you might loose a client. Example: If the package goes to a title company or lender that already is your client and there are many errors and the loan does not close, it might cost you a client. They wouldn't realize you did complete the entire package. Just my humble opinion.

Reply by sue_pa on 10/16/08 7:39am
Msg #267447

well that makes no sense at all

Do you realize you can also be a plain old every day notary public and it doesn't have to have anything to do with being a 'certified signing agent' or whatever title you give yourself? If you're hired as a notary only, you notarize the documents presented to you and you have nothing at all to do with the rest of the loan package. If ABC Manufacturing calls you in to the office to notarize contracts for government bids, you notarize. You don't peruse the entire set of paperwork to be sure they completed all the documents and attendent 'stuff' that would go with it. If someone tells you they have "estate planning documents" you show up and notarize what they have - you don't say ... well, you've got a Will and a POA here, are you sure you don't want a Health Care Directive, and how about a trust or two.