Posted by NVLSlady/VA on 4/5/13 9:21am
Msg #464544

CA 593-C/E and then some

Unfamiliar territory here.

These tax/property disclosure reports make up over half the package I received. They look like something the seller should have already filled in??

Also, not sure why notary has to be the one to print the 50+ pages of info that requires no signatures!

Reply by notarydi/CA on 4/5/13 9:34am
Msg #464546

sounds like seller docs in a short sale? PITA. One seller told me that filling out the forms is critical. Said it would make a difference in whether he paid a huge capital gains tax...or not. He got on the phone with his loan officer and accountant and they talked him through filling out the forms. Perhaps, you can advise him ahead of time that he will need to complete these forms and he can get on it before you get there....????

Reply by MW/VA on 4/5/13 9:37am
Msg #464549

I haven't seen those, but IMO it is NOT the notary's job

to handle that. Is it possible to leave them with the borrower to complete & send back later, or are they required to be returned with the loan pkg.??? I'd certainly make sure you were compensated accordingly if you were required to print all that extra paperwork.

Reply by 101livescan on 4/5/13 9:49am
Msg #464552

These are present in seller's package and have tax consequences for the client. These are not the notary's responsibility at all. They need to be completed accurately by the seller, and they need to be prepared to give the correct information at the point of sale. They sign, we do not notarize.

Reply by NVLSlady/VA on 4/5/13 10:05am
Msg #464554

THANKS all!! Didn't know what I was getting myself into for sure! But I asked that hiring party SCAN & Send me the forms to be completed in a separate file with all the markups and instructions for the seller. How on earth do they expect anyone to complete this on a lunch break?!

Reply by 101livescan on 4/5/13 10:40am
Msg #464556

It takes time, and forethought. Seller should have this well in advance of the signing appt. This is not in and out. I always get at least $125 for seller's packages.

Reply by NVLSlady/VA on 4/5/13 2:15pm
Msg #464600

Forethought is exactly right. I'm a Professional and don't intend to apologize to Title (who called me asking WHY I "kept calling her client") or to anyone else for letting signers know what is expected of them. IMO, this was NOT the kind of thing to be done in a work cafeteria - for privacy and obvious concentration reasons. I only spoke to client to (a) confirm the closing, request ID copy be ready & to review HUD if possible . . . and (b) to advise that another setting might be more appropriate to complete the more complex forms.

Turns out, the form I was the most paranoid about was the 593-E really doesn't have to be completed until tax time. Love the wording on the form in the box below the seller's signature: Title and escrow persons and exchange accommodators are not authorized to provide legal or accounting advice for purposes of determining withholding amounts. Transferors are strongly encouraged to consult with a competent tax professional for this purpose.

What's interesting is how a company who wants you to do something out of your scope of work will try to Trivialize the job and make YOU feel like the one who's making a "mountain out of a molehill."

Also, thanks Donna & Diane

Reply by dgd/CA on 4/5/13 8:58pm
Msg #464679

You're Welcome... Pleased it went well for you :) n/m