A customer recently brought in a closing packet for a boat, and it was a complete packet that required about nine stamps. At first, I considered refusing to handle it because if I were attending the closing in person, it would have resulted in a $100 sale. However, as I looked at the nice couple standing in front of me, I realized they weren’t trying to take advantage of me; it was the title company that had created the complicated situation.
Despite the lower profit margin since I’d only be able to charge for each stamp, I decided to help them out. Have you ever faced a similar situation? How did you handle it? Did you choose to assist a customer who seemed genuine, even if it meant less profit for you, or did you find a different approach? What factors influenced your decision?
If I was hired by an individual, I charge GNW fees. (travel & $/N) And all I do is notarize because that’s all I was hired to do. Will NOT go thru whole pkg. or sit & watch them sign un-notarized docs. Some GNW appts. can be quite lucrative when all you’re doing is the N pages (as opposed to quoting a flat rate, finding out it’s got 2 dozen N’s). If they took it, like, to their bank or an UPS notary, you think they’d sit & watch 'em sign anywhere that didn’t need an N? Oh, and you didn’t have printing costs either.
This was my first time doing this type, so I’ll know the next time, yes I did sit there and wacth them sign each page, waiting for them to say ( it says stamp here ). So I did more than I thought i should do.
Leason learned on this one.
Question, you said the couple “brought in” a closing packet. Did they walk into your office for a prearrange appointment or was this an unannounced random visit that you didn’t prequalify and quote your fees before they arrived?
While you are doing your journaling of IDs, have signers go thru pkg. & turn the N docs sideways. Those are the only docs you watch/notarize/journal. Get your pay & remind them that they need to ‘finish signing the docs that don’t require you’ on your way out the door.
I am aware of a few notaries who ASK if the signers want a ‘professional loan signing’ for $XXX or just the notarization of docs requiring same @ $X/N. Note that this is still a crapshoot cuz at that point, you have no idea how many/few N docs are in said pkg. I prefer my method of ‘sideways’, but it’s your call.
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They called and said they some papers notarize, general notary stuff, and since they came to me, the only thing I could have charged was the per stamp fee.
Yes, it’s hard to resist the temptation to put the loan signer hat on. But some of these signers are pretty savvy and tell the title company they’ll pay for the notary out of their own pocket,not to finance the NOTARY fee over 30 years
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You should also charge for your time.
