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Re: Fees
Posted by  Yoli/CA of CA on 12/8/24 1:06pm Msg #649794
Sorry you encountered this negative reaction. Even with "a good company" we may sometimes deal with someone having an off day. Been there, done that (many years ago). It's because of this that I've made it a rule to:

1. Call and speak with borrower(s) for confirmation. Some people only respond to text or email. Even at that, let them know you must speak with them PRIOR to appointment.
Years ago, the hiring party instructed to print and go, that the appointment had already been confirmed. I arrive at signing only to find borrowers spoke only an Asian language. Their daughter was there to translate. Unfortunately, had to inform them that I could not accommodate their signing because a translator is not allowed and that they would be contacted by another notary who speaks their language. Hiring company was not thrilled but had to acquiesce and pay my full fee as I was following their instructions.

2. During initial call, ask scheduler how large is the package. If they don't yet have docs, ask who lender is. I've been doing signings since January 2006 (almost 19 years). In that time, I've learned which lenders and TCs have large packages. United Wholesale Mortage and Sun West Mortgage are usually at the top of that list with Bank of America not far behind. If it's also a VA/FHA loan, you can be sure package will be in excess of 200 pages. Old Republic Title has a large package with lots of instructions and definitions. However, if the scheduler does not have docs, advise her/him that your fee for the assignment is $XXX for up to 120 pages (example only) and if package is larger than that, you will have to renegotiate upon receipt. And, do so. I personally don't print until I have something in writing from the hiring company as to my fee or renegotiated fee.

3. When confirming with borrowers, ask them if their time is flexible. This allows you some time to print and prep and/or renegotiate your fee. I have found that it's usually the last minute signings that are problematic or beg for renegotiation. I wonder if there's a correlation in that, hmm ....

4. We always have to remember this is a business and run it as such. I set my fees to make a profit. I am not a charitable organization. If a particular assignment doesn't make sense for my business plan, I turn it back. Business may be slow at times and turning back a signing may hurt a little. It helps to remember it's best to not expend my resources (supplies, vehicle, time, etc.) at my expense. I've already paid for these items once. Best to not pay for them again. Smile

Good call, Leslie! IMHO, you did the right thing in turning it back. Insofar as "normal size for a purchase," I've handled some that are less than 100 pages. I'm sure you have as well in your 20+ years of doing this.





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Messages in this Thread
 Fees -  Leslie_Mo on 12/5/24 5:36pm
 Honestly, I'd just say No, but thanks for the offer. n/m - Lee/AR on 12/5/24 7:59pm
 Re: Fees -  Yoli/CA on 12/6/24 11:39am
 Re: Fees -  Leslie_Mo on 12/6/24 11:25pm
 Re: Fees -  Yoli/CA on 12/8/24 1:06pm
 Re: Fees -  JanetK_CA on 12/10/24 6:29pm
 Re: Fees - Mike Goodey on 12/17/24 3:43pm
 Re: Fees - SteveS/CA on 12/23/24 2:57pm



 
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