Seller side

What does that mean seller side pay $ 65.00 scan back only .

Hi, that means the client is the seller of the property, who will be signing the documents. If you need to be familiar with the forms - fyi -just go to your notary signing agent handbook and it will show you the different docs that maybe in the package. I hope this helps you.

Also the fee for the signing is $65.00 along with you scanning back the documents. Normally everything is in your instruction to what’s docs they would like scan back or full package.

Great question, Philipa :+1:

Agree with gopromobilenotaryser’s reply.

In addition, a Seller Package document size can vary greatly. It could be 25 pages or it could be 75 pages . . . Some will tell newbies that it’ll only take a few minutes. Don’t be deluded by that line. There are several tax-related documents within the Seller Package that must be completed in detail by the sellers. Often, they’re simply not cognizant of how to complete the forms & populate the data. During the signing most Seller’s reach out to their tax advisor or CPA for assistance. On average, these types of signings will take 40-50 minutes (including the quality control check after document execution at the signing table).

Then, you have the travel time back to your office and the time to scan the full set of Seller documents. Normally, you’d then need to include the trip back out to handoff the executed package to the shipping agent. It’s understood that in this case, they’re not requiring return of the original executed document package.

Even if the signer was next door and you only had to walk 20 steps to meet them, $65 is way too low for execution of the Seller Package itself. Plus, there is no scan back fee (industry standard is usually $25-$30) that should have been added to the $65 fee. At $85 fee, if you only walk 20 steps to meet them, it might be profitable.

It would be in your best interest, Philipa, to jot down all of the expenses associated with performing the services you provide within your service region to determine a baseline operating cost. Then, at that point, you can calculate the fees that will generate a net profit to determine if you’ll have a Profit or sustain a Loss at that rate.

There are many items to consider within your Overhead calculations. Here are a few to get you started:
• telephone expenses
• office equipment and furniture
• rent and utilities
• paper
• toner
• binder clips
• pens
• stationery and supplies
• travel costs to & from signer locations
• travel costs to & from FedEx/UPS/USPS, etc.
• business insurance
• business-related meals and entertainment
• professional association memberships
• annual background checks
• annual certification expenses
• legal and accounting fees
• advertising and marketing costs; i.e., Google ads, yellow pages ad, website, business cards, or brochure

Your individual overhead would also include the cost of fringe benefits; i.e., medical insurance, disability insurance, retirement benefits. Also, remember to include income taxes and self-employment taxes.

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If calculating all this accurately seems to be a bit overwhelming, reach out to your tax advisor and ask for guidance in this regard, Philipa. :sparkles::yellow_heart:

I agree with cNsa5 except for this clip, which I’m puzzled about - and I did see this in the original post and wondered about it. Based on my personal experience I would expect there to be an original Deed of Conveyance in there (Grant Deed, Warranty Deed, Quit Claim Deed or any of the other various forms depending on circumstances) - I would think this original package would be required (a) for recording of the original conveyance deed and (b) originals of the substitute 1099 forms and other tax forms that are normally part and parcel of a Seller’s package.

My suggestion regarding this would be to contact hiring party and clarify - and request an appropriate fee adjustment.

JMO

Heh heh. I was offered a signing in downtown Seattle (I live 25 miles east of town), for $45…a refi. Given that Dick’s Drive-In in Seattle starts folks at $18/hour, with up to $9k/year in child care (penciling out to $4/hr+) there can be better ways to earn money.

It’s easy to see how someone can dig themselves a hole doing this gig if they aren’t careful.
One escrow/title company that’s about 25 miles south of Seattle wants all packages hand delivered to their office by 9 am the next morning. That’d be over 100 miles round-trip for me, as well as tolls…

When I first started, waaaay back in May, I told myself I’d take anything I could for the first 20 signings to get experience and my SnapDocs count up. My mind has changed somewhat!

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