Posted by ko/FL on 4/13/10 4:34pm
Msg #331540

Low Ball

I just received a call to do a cash purchase for a whopping $50.00. It's only 12 pages she said. And of course, I said no thanks.

Reply by Shoshana/AZ on 4/13/10 4:39pm
Msg #331544

I'd have taken it.

I know I am going to get slimed for this one! $50, 12 pages, close to my house I'd have taken it! I don't see a problem.

Reply by ko/FL on 4/13/10 4:42pm
Msg #331547

Re: I'd have taken it.

But do you really think it is going to be only 12 pages?

Reply by Notarysigner on 4/13/10 4:44pm
Msg #331549

Re: I'd have taken it.

Key word, cash purchase...12 pages...if you find out it's more, then charge more. IMO

Reply by MikeC/NY on 4/13/10 4:45pm
Msg #331550

I agree with Shoshana

If it's only 12 pages, why not? If they send you the docs and it's more than 12 pages, hand it back.

Reply by ko/FL on 4/13/10 4:59pm
Msg #331556

Re: I agree with Shoshana

Thanks for the input. I had already turned it down.

Reply by Shoshana/AZ on 4/13/10 8:23pm
Msg #331603

Yes, in this biz I often see very small pkges like that. n/m

Reply by mike/co on 4/13/10 5:57pm
Msg #331572

Re: I'd have taken it.

Thats like someone calling you and saying "I have a 50 dollar bill will you come pick it up?"

Reply by parkerc/ME on 4/14/10 5:11pm
Msg #331729

Re: I'd have taken it, too! n/m

Reply by Marian_in_CA on 4/13/10 5:04pm
Msg #331557

That's hardly low ball...

Cash purchase, 12 pages? That's a walk in the park. Provided it were close by, I'd likely have done it, too.

Reply by Ali/IL on 4/13/10 5:36pm
Msg #331565

Re: That's hardly low ball...

I would have taken it too if it was nearby. You would have known if it was only 12 pages if you had taken.

Reply by ko/FL on 4/13/10 5:50pm
Msg #331568

Re: That's hardly low ball...

By the zip, it was about 22 minutes.

Reply by Marian_in_CA on 4/13/10 6:14pm
Msg #331581

I Never trust zip codes...

Zip codes can be totally unreliable. Searched from zip to zip are based on the geographic center of a zip code, and don't take in to account population or actual location of those individuals.

I'm a good example of that. I've posted about this before... but it's a good example.

I live in zip code 93535. Take a look at it on a map: http://bit.ly/c4V2Hf

Now, that pointer is in the middle of the desert... the geographic center of a zip code that actually covers two counties.

I live about 15-16 miles west of that center. A lot of the calls I get for my zip code are for an area about 12 miles south east of that center. I get a LOT of whiny schedulers who say, "But it's in your zip code!" Well, yes... but it's 20-30 miles away!

And then... I miss a lot of calls for the areas within a few minutes of me because the rest of town is in other zip codes!

Nope... I never trust a zip code. They have to give me an address, or at the very least a block number and street name.

Reply by Cari on 4/13/10 5:55pm
Msg #331570

If they walked into my office, I'd have taken it...

no driving, no printing, what a deal!

Reply by BrendaTx on 4/13/10 5:57pm
Msg #331571

Question, Cari...if they walk into your office,

can you charge more than the applicable fee for notarized signatures?

Reply by Ali/IL on 4/13/10 6:02pm
Msg #331576

Re: Question, Cari...if they walk into your office,

Which in Illinois the fee that we can charge is very minimal.

Reply by Cari on 4/13/10 6:07pm
Msg #331578

I charge the state max fee plus an admin or doc fee....

The admin or doc fee is my way of charging for my time and reviewing the clients docs.

If I travel out, then I charge a travel fee in addition to our state max fee of $1.

Reply by Dorothy_MI on 4/13/10 6:37pm
Msg #331586

Have any of you actually ever done a cash purchase?

They many times are not a piece of cake. You still have to go over the HUD. Deal with the RE Agent (which can be a big PITA, especially if it's a foreclosed property and the RE Agents are used to in table funding states being able to walk away from the table with their commission in hand and don't understand escrow closings at all). Many times the purchaser wants to go over the title policy, word by word, etc. Besides many times you have to cool your heels while they go to the bank to get the check. Many times purchaser is VERY late for the appointment and they sometimes bring their kids, sisters, mothers, etc. From everyone except one entity that gives me a quantity of work, I get in the same range as a refi. Believe me, they can take almost as long.

Reply by CF on 4/14/10 3:04pm
Msg #331708

Dorothy_MI- I am with you on everything that you said!!! n/m

Reply by BrendaTx on 4/13/10 6:37pm
Msg #331587

Hey...if it works, go girl! n/m

Reply by Linda_H/FL on 4/13/10 6:57pm
Msg #331590

Cari, maybe as a brick and mortar business

you can charge an admin fee (really not sure) but if they come in with docs in hand and ask you to notarize, you have no right to review the client docs. You notarize and that's it.

JMO

Reply by Cari on 4/14/10 12:34pm
Msg #331686

how can you not review docs before you notarize the sigs

on them? What if an ack is needed or a jurat or some other form like our new notarial certificate which is new county form enacted by our state law last June?

Maybe I wasn't too clear when I wrote I review the docs, but its not the same as a lawyer reviewing documents for the client for legal content, etc. I don't do that.

Perhaps glance is a better word, otherwise I'm not sure how to explain it.

Reply by Bob_Chicago on 4/14/10 1:08pm
Msg #331696

You can review whatever you feel you need to, and

travel wherever you desire in order to perform your notorial duties, but IMO, Illinois law only permits you the charge the signer the stautory fees for perfoming a notorial act.
That is why the only non NSA work that I perform as a notary is pro bono.

Reply by Bob_Chicago on 4/14/10 1:08am
Msg #331627

If you are charging the signer of the dox a fee for

reviewing the dox, then I assume that you are licensed as an
attorney in Illinois.

Reply by dickb/wi on 4/13/10 7:08pm
Msg #331593

sounds like a reo and for them i get $150.... n/m

Reply by Linda_H/FL on 4/13/10 7:33pm
Msg #331595

Dick...for 12 pages??...$150??? n/m

Reply by Linda_H/FL on 4/13/10 7:33pm
Msg #331596

Sorry....wasn't finished...

$150 for 12 pages?? No loan docs? $150? ... really?

Reply by Ali/IL on 4/13/10 9:45pm
Msg #331608

Re: Sorry....wasn't finished...

That's pretty good.

I have done some not lately(reos)they can get complicated. The last one I did the borrower wanted the deed right away to go record himself because he already had the property sold.

We spent two hours there dealing with the this. He didn't get his way though

Reply by Susan Fischer on 4/13/10 11:24pm
Msg #331621

Same zip code? 12 page? Easy pea$y. n/m

Reply by ReneeK_MI on 4/14/10 5:38am
Msg #331638

I wouldn't do it either ...

As Dotti said - these can and often do get to be time-sucks, and while part of the fee is to just show up and get things signed, the other part of MY fee is to know how to deal with the myriad issues that can/do crop up. 50 bucks doesn't make it worth my while, particularly the REO's.

Last one I had that went sideways (almost 2 hours but was resolved) involved less than 12 pages, 2 attorneys, 1 former Supreme Court judge (also an attorney), a RE Agent and one unhappy infant. I think the infant grasped the concepts better than any of the others. =O

The analogy I've used for many years - if you put a piece of paper in the backseat of a taxi and have the driver take it somewhere, he'll charge you about $50 and HE'S not even going to get out and talk to anyone.

Reply by jba/fl on 4/14/10 7:12am
Msg #331646

Renee: Love you analogy....very nice illustration n/m