Posted by leeinla on 1/31/13 4:25pm
Msg #453311

Seller Package Fee?

Someone called me do to a Seller's Package for $75. Is this the right amount? I said no, they have a bad rating on Notrot so I don't regret it. I charge more than $1XX for a loan doc signing. Also, what is the time frame to complete a seller's package?

Thanks,

L.

Reply by leeinla on 1/31/13 4:28pm
Msg #453312

Re: Seller Package Fee? Orange button did not help. n/m

Reply by Karla/OR on 1/31/13 4:32pm
Msg #453314

I recently completed a sellers package and was also offered a lowball amount to do it - I told them of my minimum fee $1XX and they accepted it.

I'm unclear what you mean by "what is the time frame to complete a seller's package?" I was given an appointment date and time, just like a re-fi, and completed it accordingly.

I'm glad you averted doing the signing by looking at Signing Central!!! Nice job!!

Reply by Donna McDaniel on 1/31/13 4:38pm
Msg #453315

Usually a few pages, 20 minutes tops. 1-2 notarizations. $75 is fair, IMO, IF the company is reputable.

Reply by jba/fl on 1/31/13 4:40pm
Msg #453316

IF the LO and Seller realtor have gone over the package
IF all the numbers are as they say they are
IF the buyers have no issues and have signed off,

then it might be 15-20 minutes, plus printing and mileage, etc. or it could drag on for a couple of hours while bickering is going on. I've seen it both ways. Usually, shorter time, but, not always all IFs are settled in advance. Also had one where the buyers and sellers could not be in same room, and the back and forth continued after I left to eat lunch. Was asked to do sellers at RE office, buyers at nearby McDonalds.

I ate better than that.

Reply by ananotary on 1/31/13 4:58pm
Msg #453319

The tax forms take forever. I keep my fee for these at no

less than $100 not matter how little pages they try to sell me on. When I've done these for SS I can't help but notice that the notary fee doesn't change substancially.

Reply by jba/fl on 1/31/13 5:29pm
Msg #453327

Re: The tax forms take forever. I keep my fee for these at no

I forgot about those when typing - I keep my fees up also for these also. Part of the contingency.

Reply by Donna McDaniel on 1/31/13 5:42pm
Msg #453328

Re: The tax forms take forever. I keep my fee for these at no

I'll have to keep that in mind. It's been a while but usually they seemed easy, in & out in no time.

Reply by leeinla on 1/31/13 5:46pm
Msg #453329

Re: Jba...Part of the Contingency?

What do you mean? I also heard that these signings can take a long time, is this true. Some notaries complain that it can be a frustrating experience. I will stick to more than $75 for seller's packages for now.

Reply by jba/fl on 1/31/13 8:31pm
Msg #453354

Re: Jba...Part of the Contingency?

I still charge higher since you never know how long - the contingency is in my mind when I quote.

Overall, some signings take 15 mins. and some take an hour or more - so have to price according to the longest time you think it will take. When it comes to buyers and sellers, there is no RTC, everyone reads more and quibbles more - there is no room for mistakes as those mistakes last a long time and cost a lot of money. Ideally this is taken care of prior to the notary's arrival, but there is no guarantee as we are dealing with people's emotions.

The ultimate goal is that everyone walks away from the table knowing they got the better part of the deal - this is not always achieved but everyone has to feel they compromised to their advantage as well as possible.

Reply by JanetK_CA on 2/1/13 11:28pm
Msg #453559

Re: Jba...Part of the Contingency?

We don't do table funding here in CA, so I've never done one where it wasn't just the seller. However... this has certainly been true for most of the seller's packages I've done: "there is no RTC, everyone reads more..." The sellers want to be sure to get as much $$$$$ out of the deal as possible, so they go over everything very carefully.

In my experience, there's also often a big difference (but not always) between those people who buy and sell lots of properties as part of their business activities and those for whom this is an infrequent occasion - like when they're selling a deceased parent's home, and they're not familiar with the docs. So every situation will be a bit different.

Reply by itsvk_g/CA on 1/31/13 6:58pm
Msg #453343

Most of my seller packages have been short sales which have a multitude of tax documents the seller has to complete. This may prolong the signing much longer than expected.