Does coast to coast signings usually offer very low fees? My most recent one was for $30 and was 61 miles away. After mile expenses (62x 0.58) just ONE way, I’m already losing money. I declined immediately. Anyone having similar experiences?
Thanks
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Yes. That’s why I decline a lot.
Chances are that particular signing was a loan modification with Wells Fargo. There starting fee is always $30.00 due to only being about 20 total pages, which requires 1 signatures from the client and 1 notarization. The signing is very easy and only takes about 15 mins to complete. I’ve done about 17-18 signings with Coast to Coast that vary from $30 loan modifications to $250.00 depending on the type of document it is. If you feel the fees are too low, you can always renegotiate.
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I believe it depends on the area/market? I recently saw one from C2C for $150 for loan signing that I couldn’t do because I was fully booked. Bummer! Keep in mind. It’s all about business. They need to make money in order to keep the business running and you need to make money. So it’s up to you to know your worth so you’re not in the hole after all is done!
Coast to Coast ALWAYS starts with low ball offers. I don’t take it personal, it’s just expected. I’ve done lots of work for them with no complaints. They pay at 30 -40 days, but they do pay without issues.
NEVER accept their initial fee, just say NO, but counter with what you expect to get paid - my minimum fee for a real estate deal of any kind and local is $100. I get it from often from Coast to Coast and others, even when the initial offer is much less. Scan backs add $25 more to my fee.
With Snapdocs offers, I always respond with a reasonable fee, if I’m available. You’ll be surprised, you often get the signing at your fee. Remember is Snapdocs is NOT a signing service, its nothing but software package used by MANY low-ball signing services, but some signing services that use Snapdocs DO offer good initial fees or will quickly OK reasonable fees.
If a Snapdoc or other signing service with a IM app calls you about a signing, especially if is a ASAP signing, its because they are desperate and need you, but probably don’t want to pay your fee. Too bad, I never lower my fee after I have stated a fee in an IM app.
Say the initial fee offered is something crazy - $65 but its a ASAP or TBA for today signing and its already 4:30 p.m. Counter at $125 through the app. Normally its a $100 signing but they need to schedule someone NOW and don’t have time search for someone to bite at $80 or $90. There is a good chance you’ll get the signing at $125. If they call you - stick to your fee and you will get it often.
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I concur 100%! I heard great things about them too from other NSAs in my area.
I take signings extremely close to me …like 10 miles or ask for a larger fee
they do pay on time
but yes they start around $30.
in this area there are enough notaries for them to get away with it …i did work for them at the $45.00 level on the wf closings …the package is small and goes fast… so if its close to me or i have something else close to it, I may take it, but as a convenience… usually i ask for a fee increase , and hardly ever get it.
Kasheena, $30…really, you will leave your home for $30…I don’t care how small the package is, min. fee is $100. You have a choice. demand compensation, or settle for chicken feed.
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Yes, local signings like that are not an issue for me. Once I get enough experience with it, then I will increase my fee. Everytime I ask for increase, I get it. In Indiana, notary fees are maximum $10/signature…on the loan modification, there are 3 signatures, so it pans out.
You are being paid for the notarizations only @ $10/signature. BUT, what about your paper, toner, gas and your own time to print & travel to location, then drop docs and travel home. You really are severely under-pricing your value so it’s no surprise that when you do ask for an increase, you get it.
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Traveling that distance is worth far more than $30 just in itself, without the fee for doing the loan mod. I don’t know how, in good conscience that they can even put out crazy low offers like that…let alone why anyone would accept it. What is the point of operating at a loss?
I do not understand what notary or professional notary can agreed in any assignment for at least 100.00 . Where in the world you see any profit in a 35 dollar assignment. You work for nothing and you put our profession in very bad position. Never even open the door of your car for less that 100.00. Be more professional and have an ego and respect for the member. You learn the had way.
Does Coast2Coast require the notary to send them an invoice in order to be paid for a completed closing?
No invoice needed and they pay ontime everytime. I do a lot of work for them and I never do a job for less than $125 in my hometown and up to $300 for traveling distance. Rarely do I ever hit the I’m available button. 90% of the time its price too low. :)grinning:
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[quote=“joelmills, post:5, topic:9223”]
hem with no complaints. They pay at 30 -40 days, but they do pay without issues.
NEVER accept their initial fee, just say NO, but counter with w
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These are loan modification, We understand that you might need more money for far locations. Just put the fee you need.
We are not offering these same fees for our other products.
Just ask us for more money
Lisa
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It is up to you to accept or decline an offer. Coast to Coast is good for beginners who need to build experience. They will sponsor you with major title companies like Fidelity, which will be beneficial for you. I did many signings for them and always got paid like a clock work. I still do signing for them time to time when I can and if they agree to my fee. Coast to Coast like Universal,Signing, US Signings, FASS, Express Notary and the like start their initial offer for a standard Refi. with $75. However, they will meet your fee (if reasonable) time to time depending on circumstances at the time.
Allow me to demonstrate something here if I may. For example, you do a signing for C2C for $75. You notice on ALTA Statement that Title paid them $125. That means they paid you 60% of their fee. Now you accept a signing for another company. “X” ,all things being the same, i.e. page total, etc. for $90. You notice on ALTA again that title paid them $250, meaning they paid you 36% of their fee! Which company is more fair here in paying you right? The answer is C2C. You need to realize that every signing company operates within their business model and limited in what they can pay you. Some signing companies have multiple employees, work out of office, etc. therefore have much more overhead than a company owned by one person. One must consider all relevant factors. Next time if you receive a low fee offer, it does not necessarily mean that company is cheap or wants to take advantage of you, either decline or negotiate. May the force be with you!
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Thank you for your input in describing the nature of these Wells Fargo loan modification orders. I decline them out hand because of the low $30 fee offered and, even when I ask how many pages, they never answer. Wish they would be more forthcoming with this information.
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I haven’t had that trouble, but they do take forever to pay.
No we do not require an invoice