Posted by CH2inCA on 5/17/11 10:37am
Msg #383391

Revisit my Fee structure

Recieved this email this morning, and sent attached response. But then I pondered this some more and just want to revisit my fee structure to see if there IS anyway to meet these offers midway perhaps. To the more successful Loan Signers out there, lend me your thoughts. Is there any part of this you think might be excessive? Always open to constructive critisism.

"Hello,

We have a Refinance Loan signing TUESDAY, 5/17/11 at 3pm in Fresco, CA.

Fee is $65.00-75.00. If your fee would be higher, please provide what that would be.

Please let us know if you are available for this signing.

Response:

Thank you for contacting Mobile Notary Advantage. Unfortunately I am not available at the given time, however I do have an opening at 5:00, in Fresno.

My fee structure is as follows:

Loan Signings 90.00 (based on two signers)
Edocs 25.00 (.10 pp > 100 page packet)
FaxBacks 15.00
Emergency same day signing < 4hrs notice: +25.00 to base fee.

Out of Region: add .50 per mile RT

A late payment fee applies net 20 days.

Reply by CH2inCA on 5/17/11 10:42am
Msg #383392

Is it relevant call was for Bilingual services? n/m

Reply by Glenn Strickler on 5/17/11 12:34pm
Msg #383408

Not exactly sure what you are asking here but

I did have a late night last night, so I may not be thinking too clear .......

Your fee structure is similar to mine, and I am usually unable to get that because of a flood of notaries that will do same for $50 to $70 including edocs and drive 40 miles one way to do that. I don't work unless my fee structure is met. Plus I just got tired of spending more time as a debt collector than notary.

As far as bilingual, depends what your second language is. So many have Spanish as their second language in my area (and I assume yours) that it's a non-factor. If you speak another language such as Mandarin (young people should learn this) or Vietnamese then that will help you get whatever fee you ask for in most cases. You will at least get your full fee.

Hope this helps.

Reply by Notarysigner on 5/17/11 2:54pm
Msg #383428

The only thing I could add to Glenn comments is beware you're NOT dealing with someone passing themselves off as a SS, that is happening now but "starving notaries" who won't pay you. NR and SC are you friends, it doesn't matter what fee they offer if they won't pay you. My .02
I'm sticking to my fees because I'm not starving. Yesterday I got a call where the person calling told me explained he had called eight different notaries before he got to me. He informed me that either no one answered or he was told they were no longer doing notary work because their commissions had expired and they weren't renewing. He was tired of calling and said "just tell me how much it's gonna cost me."

Reply by JanetK_CA on 5/17/11 3:44pm
Msg #383440

"just tell me how much..." I hope that's a trend!! ;>) n/m

Reply by JanetK_CA on 5/17/11 3:59pm
Msg #383442

One suggestion I might have for you - and this depends, like everything else, on your area and how much competition you have - is to reconsider the $25 fee for less than 4 hours notice. If an assignment fits into my schedule, I take it and if it doesn't, I don't. My out of pocket doesn't increase based on how much notice I have, so that might be an area to increase flexibility. (BTW, my base does start higher than yours.)

As for the bilingual issue, I have mixed feelings about that. On one hand, I don't want to be perceived as discriminatory, but for full signings, on average, they take considerably more time. I've seen the gamut, from people who read and write pretty well in English, understand the concepts, but are just a little more comfortable in Spanish, to those who are barely literate. Then add the Statement of Information - especially if you have to translate it for them - and it can take twice as long. You've probably seen the same thing. In my area, I try to keep my fees down, but typically I do charge a bit more for Spanish signings. (It also depends on what we can negotiate for the rest of the fee.)

Obviously, there are lots of Spanish speakers out there, but I don't know how many Spanish speaking notaries there are - or how many have experience with loan docs...

Reply by LKT/CA on 5/17/11 5:36pm
Msg #383461

<<<Out of Region: add .50 per mile RT>>>

This needs clarifying. What is IN region? 30 miles RT? 60 miles RT?

<<<A late payment fee applies net 20 days.>>>

How much?

Just be specific on the fees you will charge for extra's and you're good to go.