Posted by Notary/ME on 8/13/10 1:40pm
Msg #348848

Cancellatin fee?

I tried for 2 days to get ahold of a borrower.Left msgs, no response to confirm closing (yes, I had 2 days notice for closing!). I called SA to see if they had any other numbers, no they didn't. SA says just go to closing without confirmation and I tell them I prefer not to do business that way but I will go of course. I take it upon myself to do some research, find a neighbor etc, track down a phone number for borrower. Borrower had no clue they were closing, a bit upset-of course. They aren't prepared, don't have any docs etc and don't want to close. i don't blame them. I notify SA, who in turn notifies lender etc (i'm cc'd) and every thanks me for finding the info. Appt is cancelled 90 mins prior. Of course I have no time to reschedule my $135. appt that just cancelled. I say I get $75.00=25 print and 50 cancel. The SA says $ 25 print fee only. Any thoughts/comments? I'm interested in how others would handle.
Thanks

Reply by Glenn Strickler on 8/13/10 1:48pm
Msg #348849

read msg #348460 n/m

Reply by Notary/ME on 8/13/10 1:52pm
Msg #348853

Re: read msg #348460

I did read that message from Wednesday but was looking for information more on my situation stated. Thanks tho

Reply by Notary/ME on 8/13/10 1:48pm
Msg #348850

Oops, that's "cancellation" My typing was showing my irritation with this client I guess.

Reply by Glenn Strickler on 8/13/10 2:00pm
Msg #348854

Send them the bill that you see fit. Your calculation seems reasonable. However you will only probably get the print fee. That's just the way things are. I personally don't spend a lot of time on things I can't control. Someone that sends me a lot of business, I don't worry about the occasional hick-up.

I was stating the bigger picture on the first post.

Reply by James Dawson on 8/13/10 2:36pm
Msg #348856

Glenn is correct.....they might stop using you, they know

how much paper cost. They are usually notaries themselves. JMO

Reply by Jason Berger on 8/13/10 2:45pm
Msg #348858

If I show up for the closing and the borrowers are not prepared or are hesitant, and I can't talk them otherwise (Not as a sales pitch, but just letting them know that if it is the case, and they have the 3 day rescission, that they do indeed have that) then I charge $50: $25 to print, if that is the case, and $25 trip fee. If the borrowers cancel and I haven't shown up and I printed, I get $25. I would bill them as you see fit, but I tend to think the others are right, you won't get the cancellation fee. Sorry friend.

Reply by CaliNotary on 8/13/10 2:50pm
Msg #348861

It's part of the job, suck it up

I turned down a 4 pm signing this morning because I already had one scheduled at 4:30, 15 miles away. 3 hours later I got a call telling me to cancel the 4:30 and reschedule it for tomorrow because they're sending me additional docs. Annoying? Yes. $115 down the drain? Yes. Worth risking a bunch of future business with a solid, decent paying company, who have no control over the docs in the first place, in the pursuit of $50? Hell no.

It's a cost of doing business, every business has them.

Reply by ReneeK_MI on 8/13/10 4:22pm
Msg #348873

Agree, suck it up ...but want to add to that ...

Businesses don't re-negotiate a fee after-the-fact. They shouldn't try to do that to us, and we shouldn't try to do that to them.

Get your policy figured out, then disclose it BEFORE they agree to something else.

Reply by Marian_in_CA on 8/13/10 3:16pm
Msg #348863

If you charge cancellation fees, you have to be strategic about it, and know when to negotiate them away. I have a standing cancellation fee policy, but I'm not stupid about it, either. Every situation is different.

Reply by MW/VA on 8/13/10 9:31pm
Msg #348911

It sounds more like a "trip & print fee". The going rate

is usually $50-$75. I wouldn't call it a "cancellation fee".

Reply by CaliNotary on 8/13/10 10:32pm
Msg #348915

There was no trip made n/m

Reply by parkerc/ME on 8/14/10 5:11pm
Msg #348959

If you haven't traveled to the BO, most TC/SS will only pay a print fee of $25. If you didn't print, then you wouldn't even be entitled to a print fee. I don't charge a cancellation fee unless I print and travel and they refuse to sign anything when I arrive.

Reply by parkerc/ME on 8/14/10 5:13pm
Msg #348960

Sorry, if they refuse to sign when I get there, it's not a cancellation fee, just print and travel fee. I never charge a 'cancellation' fee.

Reply by MW/VA on 8/14/10 7:47pm
Msg #348973

Re: Cancellation fee?

IMO most who try the "cancellation fee" thing end up being cancelled. I'm finding that I always need to weigh the potential loss of business against the occasional cancellation, larger than normal package, issues arising at signings, etc. It's all part of the biz, and I have always taken the attititude that it balances out in the long run.