Posted by Kenneth Cagan on 5/4/10 9:17pm
Msg #334886

Reasonable Fee

I was called today to do a Saturday closing for a basic refi in my own city during ones typical dinner hour. I was told that there would be a total of 80 pages, and that, "We pay $40 for this." I explained that I could not accept this and gave them my fee requirement. They then asked me if I was flexible. I said no, as I felt my fee was reasonable in light of the time and expense. The reply was, "I want to call some other notaries to see if someone will take the job for less, if not, I will call you back with fee approval." Needless to say there was no call back.

I have been a Notary since 2000, but recently became certified as a signing agent. What is a reasonable fee for this job? Florida law permits a notary to charge up to $10 per notarized signature.

I look forward to any feedback.

Reply by MW/VA on 5/4/10 9:19pm
Msg #334887

Are you willing the share the name of the company that offered such a ridiculous fee?

Reply by CaliNotary on 5/4/10 9:34pm
Msg #334889

You really need to ask?

Did you somehow manage to miss the 4 threads a week about Nations Direct offering people $40 for signings?

And for the original poster, yes, $40 is a fee that is beyond unreasonable. Next time they call, and there will be a next time, tell them to triple it.

Reply by Kenneth Cagan on 5/4/10 10:42pm
Msg #334895

Re: You really need to ask?

I am a newcomer to this forum so needeless to say I did not see the threads. Nevertheless, I appreciate the information that evryone has to offer or share.

Reply by Moneyman/TX on 5/4/10 10:56pm
Msg #334897

Sorry Cali, NOT for a weekend closing

<"Next time they call, and there will be a next time, tell them to triple it.>"

Cali, triple $40 doesn't even cover a signing on a regular weekday for me. I would charge my regular fee + my weekend charge.

Weekend charge you ask? I'm glad you asked!
Unless someone does not accept jobs on certain days during the week on a regular basis, we are "open" 5 business days a week and available for signings morning, noon, & night. In most cases, a weekend signing is set up as a convenience for the BO. Just as having someone coming to them is also a convenience for them (and TCs that do not have offices in the same area). As such, I am available 7 days a week, but if I am asked to place my weekend or "holiday plans" on hold to be available (which I will gladly do) I, like other professionals, charge more for that option. This is a minimum of $50 - $100 for me. It's just business.

Need proof? Call a plumber on a weekend around dinner time and see what their service call charge is verses a 2pm call on a Tuesday. Why is that? They know what they are doing, they realize their time is valuable, they realize they are offering a level of convenience, Oh, that's right, they are professionals. Boy, that list sounds really familiar. Doesn't that describe us? ........um, I got a little lost, can someone tell me again why we shouldn't charge more for a holiday or weekend signing?

Sorry for the soapbox. The offer of $40 for a Saturday evening close just didn’t sound right

Reply by LKT/CA on 5/5/10 12:29am
Msg #334904

Re: Sorry Cali, NOT for a weekend closing

<<<Weekend charge you ask? I'm glad you asked!>>>

Heehee!! That's cute!

Reply by PAW on 5/5/10 7:20am
Msg #334913

Re: Sorry Cali, NOT for a weekend closing

>>> Need proof? Call a plumber on a weekend around dinner time and see what their service call charge is verses a 2pm call on a Tuesday, <<<

Actually, we do have plumbers, electricians, etc. that offer weekend, Sunday and holiday service **at no additional charge**. This is what differentiates them from others in the field. Guess who's trucks you see in the neighborhood more often than others. They also seem to be more noticeable during the week, meaning that their customer service approach surpasses others and are more in demand.

I have no problems with those who wish to work 9 to 5, Monday to Friday. If that's their model, more power to them. It's a business decision. If it works for them, fine. My hours are what I am happy with and it works for me. That's how businesses work, especially in the service field.

Reply by Kenneth Cagan on 5/4/10 10:39pm
Msg #334894

The person who called me spoke rather quickly. When the call started, she said she was calling from what sounded like "Documents & Processing." I ran a Google check on the phone number and it came back as the fax number for a mortgage company called "Direct Synergy." For whatever it's worth, my asking price was $150.

Reply by Linda_H/FL on 5/4/10 9:29pm
Msg #334888

This company has you second-guessing yourself

What is your experience with loan documents? $40 is a slap in the face, and considering your location it's even more of a slap. I've been in your area - NO time of day is a good time of day there...especially dinner hour on a Saturday!!

Please publish the name of this company - they think they've got you because your newly "certified" ...prove them wrong.

Reply by Kenneth Cagan on 5/4/10 10:56pm
Msg #334896

Re: This company has you second-guessing yourself

I was a licensed mortgage broker for a couple years and opted to not renew as I just could not devote the time that the profession requires. Aside from this, my wife is a realtor, so two of us on straight commission was out of the question.

See my 10:39 p.m. reply for the company info.

Reply by Glenn Strickler on 5/4/10 10:22pm
Msg #334893

Last time they called me and offered me forty bucks, I said okay and add my travel fee of one hundred dollars .... It took them the longest time to figure out what I had just said ...

Reply by Moneyman/TX on 5/4/10 10:59pm
Msg #334898

LOL Gleen. I also like someone line the other day

Tell them "I'll see if I can get approval and call you back."

Reply by John/CT on 5/5/10 2:36pm
Msg #334982

"I'll see if I can get approval and call you back."

That's a GREAT line! Why don't we all use it? I sure will.