Posted by Buddy Young on 6/30/12 5:25pm
Msg #425227

A savy borrower

I recieved a call the other day for a signing. The other notary backed out.
The call was at 8 P.M. for a signing ASAP.

I told the caller that I had a short notice fee.

He said " I'll make it worth your while."

I said what are you offering? He replied $200

I said that will get it done.

After the signing the lady of the house asked me how much I get for this.

I don't talk about how much I make, but after some hesitation I told her that I only got that much because it was an emergency.

She said " it's not worh it, you should make at least twice that much."

Reply by JanetK_CA on 6/30/12 6:18pm
Msg #425231

Isn't it nice when we run into someone who gets it? As you found out, it does happen from time to time...

Reply by ikando on 6/30/12 6:27pm
Msg #425234

I had a surprise the other day with GN work. I quoted my travel & witness fee, & the caller said, "It's a Saturday. You need to charge more." He paid me almost double my ask. Plus he's in a business which needs my service, so we're negotiating for regular work. Sweeeet!

Reply by Notary1/CO on 7/1/12 12:44pm
Msg #425279

Notaries should not accept gratuities or "tips" from signers. The Notary may be accused of charging more than the maximum notary fee allowed by state law. Accepting extra tips or gratuities is also a violation of the Notary's requirement to stay impartial. Even worse, the tip might be considered as a bribe, offered by the signer and accepted by the Notary, a pubic official.

If a Notary wants to charge more for Saturday or weekend service, or rush service, or night time service, or driving a long distance, a better practice would be to publish your itemized fee schedule on your website, showing the amount charged for the notary fee and the amount charged for travel and other fees. Full disclosure of all fees.

Reply by sueharke on 7/1/12 11:27pm
Msg #425338

I think the wording the notary fee is $10.00 per notarized signature (CA). The travel fee is based on the time of day, location of service, and time the service is requested. This allows for a fee based on the need of the signer or SS.

It is wise to post "fixed" fees for all situations on a website or written document published by anyone (this includes notaries). All situations are different and fee need to be based on the situation.

Reply by sueharke on 7/1/12 11:30pm
Msg #425340

I meant to say it is NOT wise to post fixed fees.

Reply by DaveCA/CA on 7/1/12 11:39pm
Msg #425341

He's wearing two hats

Remember, he can charge $10 for each signature notarized plus travel fees plus whatever he wants for all of the non-notarized signatures. I think we sometimes forget all of the good that we do. Going over the loan package with someone is a pretty big deal. And when they get someone good, they feel it's worth it. Good job!!!

Reply by Notary1/CO on 7/2/12 12:02am
Msg #425343

I am responding to ikando's post regarding General Notary work, which was not for loan docs or signing service. Many notaries post fee schedules for GN work and NSA work. For NSA work you can specify that the bundled fee includes up to xx pages, xx travel miles/time, no faxbacks, drop off at FedEx/UPS, etc. Extra fees can be added for rush service, evening and weekend service, extra miles/travel time, extra printing, faxbacks, etc. If I get a call from a lowball signing service, I simply say that their offer does not meet my fee schedule and refer them to my website. If you prefer not to use a posted fee schedule that's your choice.

Reply by MW/VA on 6/30/12 9:15pm
Msg #425250

IMO most borrowers would be shocked by the small fees we are paid in proportion to the closing costs. We're at the bottom of the food chain, unfortunately.

Reply by RickG/CA on 7/1/12 10:17pm
Msg #425334

Re: " it's not worh it, you should make at least twice..."

...until she realizes that she's paying for it