I had my first “official” signing yesterday via SigningOrder.com. It was a home purchase in Florida. I learned several things about this all works.
-It is extremely important to read everything word-for-word. I thought my orders said I needed to provide a witness and then thought on the actual orders it said if the signer did not have a witness, I would have to provide one. I called the company and realized I didn’t read it correctly. However, it made me question, when you can’t provide a witness, is there a company that has witness waiting around to be one?
-Give the customer time to review everything. My customer literally sent a wire prior to meeting with me that was over $6,000 less than the paperwork said the property was purchased for. I had to reschedule my appointment.
-Ask for more. I did see this before. The signing I accepted was for $100. Once I accepted it, I seen that the title company is receiving $350. Had I not had to return I would have only gotten that $100. Luckily, they have to compensate me for having to return later, but I still should have asked for $150 up front. I didn’t think to do that because it was my first signing. Thus, I ask, how many signings should I do at the offer price before I negotiate? Or is this something we should do as new agents from the beginning?
There was more, but overall, I learned a lot about purchasing a home, even more about customer service, and it was a great experience that will certainly become easier over time. I think I am really going to love this.
-Oh I forgot to add, I am in California and therefore I did not need to add a Jurat with a California Acknowledgement. Just FYI!!!
Here are a few more take aways. If you were to provide a witness, is is customary to pay them a fee of no less than id say $25. That comes out of your pocket. So, yes, I’d definitely ask for more than $100 if I am paying my witness. Some agencies can help find a witness but that is few and far between. I’ve taken my daughter or husband with me in a pinch but I just normally don’t do a signing unless the signer provides one.
Next, you mentioned the buyer sent in 6k less than the purchase price. Do you mean, they sent less that their closing costs? Closing costs and purchase price are two very different things? That wouldn’t necessarily stop a signing. I’ve done signings where if a bank was close enough the title company let me go with them after the signing to get a certified check to send back.
Lastly, don’t read into what the notary fees are on the CD. You have to remember, there is another half of the signing going on elsewhere (seller) if you had the buyer. There is also a signing service that needs paid unless you were hired directly. In all reality, theCD is absolutely none of our business except to check to see if the borrower has any money due. None of our business at all. Same as their income or any other information on the forms.
I’m glad you got a little bit of learning experience though.
Thank you so much for sharing that information. The signer requested to end the signing the first time because she was concerned that the amount she wired to the title company was less than what was stated on the Settlement Statement. They needed to edit the numbers and they did, which is why I had to reschedule. I appreciate your feedback on the CD. I will definitely not read too much into it. I had to prep the forms and of course took a look as I did. I am sure once I continue to do more signing, what is contained in the documents wont be of interest. I made sure to remember when she begun to ask questions about the documents, I told her to call the title company (rather I knew the answer or not).
Too many read the notary fee section of the CD and believe they’ve been cheated when that’s not always the case. I’ve sometimes been paid more than what was on the CD. I think the big thing is to be at a profitable fee. if you’re happy with your fee, it doesn’t matter what the signing service is making.
It’s always good to get the first one under your belt. Good job.
You’re learning, grasshopper. ALWAYS negotiate fee. Find a friend who will witness when needed. Witness fees are negotiable and will be paid to YOU as you must pay ‘your witness’ out of your pocket.
It’s always GREAT to finish your ‘maiden voyage’ into this business sector (regardless if the closing was completedor not).
Continue to be alert. Learn as much as you can from the Notary Cafe database, which is a TREASURE TROVE!
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P.S. I receive no compensation or remuneration of any type or kind as a result of my first-hand experiential review above.
Where did you receive your loan signer training from? It’s a fun job but you are in charge of the transaction and because of that there’s quite a bit of responsibility you have agreed to assume if you accept an assignment. Experience tells me that if the signer wired money before you arrived it was probably to a fraudster and time was already running out to recover it. Disregarding that dire emergency, do you really think you earned your fee?
Thank you so much for your response and advice. Luckily, I had my daughter (whom also has her commission) for the first appointment, and then my brother for the second. Gave him Starbucks (LOL)
Thank you so much for your response. I was super nervous about doing my first signing, but I knew it had to be done. I have paid too much money and invested too much time to not see this through. Thank you for the advice, I will certainly check out Notary2Pro. I appreciate that.
I received my training from the National Notary Association and the Notary Training School. Yes, I do believe I earned my fee. Having to be rescheduled and take the day off from my government job after 19 years of invested time to see this signing all the way since the customer was already familiar with me, Yes I absolutely earned it. I do not believe that I was fraud whatsoever. But…I do appreciate your response as this information has now been planted in my mind to pay attention to certain key details.
“Oh I forgot to add, I am in California and therefore I did not need to add a Jurat with a California Acknowledgement. Just FYI!!!”
I do not understand why a notary would ever ‘add a Jurat’. Why would a notary ever decide to do this, CA or not? What did I miss? Can you explain this further?
Along with the question from @Arichter , I also ask why you took time from your regular government job to do this. That job is your main job with 19 years in? I would not jeopardize that for this business at this point. This business is too fickle for that kind of sacrifice…especially how difficult it is to get a foothold and get established nowadays - and to be able to command the fees you deserve.
I also agree with Arichter’s question. I wish contributors to this site would take a moment to read what they write for clarity and continuity. Too often, some sentences just don’t make sense.
Some title and signing companies, will sometimes “shop around” to see who will answer. I will ask for more money knowing that they get “full price”. For a witness, I will ask my husband for a witness. He then gets his favorite meal!!! Pot roast and potatoes is great… Printing is another issue that we all deal with so I will set up a system that will account for ink paper, and other expenses such as toll road fees that need to take into account. Just a thought.
$100 is a respectable fee for your first signing if the distance was reasonable. I also wouldn’t spend time going over fees on the CD or settlement statement as they are often an estimate. I use my husband as a witness if one is required and I charge an extra $25 for that. When you negotiate fees take into account how far you have to drive. Set a price for certain distances and outside of that decide what you want for extra mileage. Be consistent and in getting started realize you may need to take some signings at a lower rate to gain experience and have some work volume…just see how it goes for a month or two and then you will know better what you want to charge. Congratulations on your first signing!
Congrats on your first signing! I can remember my first loan signing 18 years ago like it was yesterday - it was Thanksgiving Day and I was paid well for that signing. Regarding providing witnesses - it is the borrower’s responsibility to provide witnesses to their out-of-state property transaction. Oftentimes, they don’t want friends/family knowing their business so they will say they don’t know anyone. If the signing is at a coffee shop, sometimes other patrons will be willing to be a witness on the spot. But if the signing is at the borrower’s home then obviously that won’t work. It is okay for you, the Notary to help them out finding a witness. Right here on Notary Cafe, just use the Find A Notary feature. Using the signer’s zip code, call Notaries to see if they’d be willing to be a witness for a fee ($25 is standard). I personally offer this service (witness-only signing). I’m sure another Notary would be willing to show up and collect $25 for a few minutes of their time to witness the borrower’s signature. Just flag that doc, pull it out to be signed so it can be witnessed and send the other Notary on their way - he/she doesn’t need to hang around for the entire signing. It is NOT your responsibility to pay for a witness, the borrower must do that and they can get reimbursed from title or escrow but YOU the Notary should not be paying out of your pocket for a witness. All of this can be discussed with the borrowers at the time you are confirming their appointment: Inform them they need a witness, which can be their friend or neighbor, or grab someone at a coffee shop IF signing there. If they say the don’t know anyone, then offer to call from this site to find another Notary willing to be a witness and let them know they’ll need to have $25 cash ready for this witness-only. Bottom line - they need a witness and THEY can get one for free or you’re willing to call and get one but there’s a fee. That’s how I handle it.
I was told by someone else who does notary that an acknowledgement from Florida would also need a Jurat. I was simply letting ANYONE who may have heard the same thing know that, the information was incorrect. My apologies for simply SHARING MY EXPERIENCE.
Congratulations! 
