Posted by IAC on 8/17/11 2:23pm
Msg #393964

Taking the fall

I recently did a closing that consisted of (4) properties, this was a paper and a e sign. The paper side took 4 hrs. the borrowers were in their 80's and did not want to proceed with the esign. I called my contact and told them of the scenerio. I was told not to fax anything back they would contact me Make a long story short, I had to contact the signing co. I was assured I would be paid my fee. now the signing co. is cutting my fee because I did not send docs back the next day, I was told not to. I put 8hrs. into this closing plus my material. What would a fair fee be.

Reply by Les_CO on 8/17/11 2:44pm
Msg #393965

IMO Whatever the original fee that was agreed to by both you and the SS.

Reply by Buddy Young on 8/17/11 4:10pm
Msg #393986

I took a signing once and it consisted of two properties. I didn't know that when we agreed on an amount for the job. It was a while back so I don't remember how long it took but it was a long time. I felt that I was bound by the original agreed upon amount so I didn't ask for more, but I learned what questions to ask before I agree on the amout of payment.

Reply by Les_CO on 8/17/11 5:06pm
Msg #393998

Good point!

Reply by Dorothy_MI on 8/17/11 6:21pm
Msg #394003

Two properties = two fees

I'd bet anything that there were TWO HUDS AND TWO CLOSING FEES! I would only charge them one travel fee, but everything else is double the cost of doing one loan. Much like doing a first and a HELOC!

Reply by twostep/CA on 8/17/11 7:03pm
Msg #394009

Re: Two properties = two fees

I totally agree. I recently did a signing for a couple with 2 properties and the the BOs refused to sign one set of docs because the the figures did not add up to what hubby was expecting for the second property. The SS went ahead and paid full fees for both signings. I do not charge a separate travel fee if it is within a reasonable distance

Reply by JanetK_CA on 8/18/11 12:28am
Msg #394082

I'm not sure I'm understanding your post 100%, so I'll just make an observation for future reference. If someone told me not to send the docs back until I heard from them and I didn't hear anything, at a certain point (well before the shipping cut-off time), I'd be on the phone to them - and if they said to hold them beyond that, I'd want to see that confirmed in writing. I can't think of any situation where a company would want you to hold on to signed documents vs. having them shipped out by the next day.

BTW: "this was a paper and a e sign"...

How does that add up to four properties? Sorry, I just didn't follow everything you were saying in your post. It's very easy for things to get confused when communications aren't clear - and we see lots of examples of that from tc and ss, as well as notaries, mostly because they're in a hurry. I try to take a little bit of extra time to make sure we're understanding each other, if I think there's any possibility of misunderstanding. It's generally time well spent - and something worth continually working on, imo.