Ummm soo I have a signing and knowing it was a low fee I accepted for $70 thinking okay at least its close in proximity and it’s only a refi, then they give me the docs late and it’s a weekend signing, come it find out a 250 page refi ? omy my… and of course they are not answering my calls … then I see they are receiving $450 for the closing… what do I counter ? or do I just walk away… ??? help agents!!
Where did you see this? How exactly is this listed on the CD? Just curious.
I saw it on CD for settlement
The “Settlement Fee” is far more than just the notary fee - it includes the entire workup of the documents, coordination with lender, review of title and, possibly issuing the title policy (depending on the structure of the company) - in addition to certifying proper disbursement of the funds…so please don’t think that $450 is what the SS is getting if it’s listed under “Settlement Fee”.
But I absolutely do agree with you that the fee offered for a 250 page signing is too low - my past experience would be to ask twice that for that volume - you’re printing 500 pages plus reviewing and table time - the printing and time factor alone is a huge chunk of your time. I would ask $150 or no go.
But that’s just MY experience. I hope you can get more.
I know that about title and it’s only 450$ for the title, my friend has a title company so I know how they break down there fees. anyways, 500 pages it’s a whole pack of paper
I agree with you about the paper…AND the other factors in that kind of printing. You definitely deserve more. It’s your call if you try to negotiate it, or just do it, or just walk away.
I am waiting for a call back… to see what they offer. I feel like at times when we accept the low fees we set our statard to low… and companies get use to it and want to take advantage because they see it as well the next new agent will take it sigh…
You can ‘see what they offer’, but what counts is what YOU charge. Honest, newbs, you’re selling yourselves way too cheap. They were paying $125 - $150 (more $ if distance warranted) 30 years ago and overnighted the docs to you…no printing. And the packages were much smaller than they are today. Raise your fee, already… I quickly give them the option of re-assigning or paying the fee the job is worth to ME.
Yes!! I rarely take less than $125. One of the larger title companies is paying $70 for 20 minute RON refi signings. What’s absolutely hilarious (to me at least) is that I have received 3 or 4 emails from signing and title companies discussing how they are receiving a record number of errors and reminding NSAs to review the documents. Hmmmm…I wonder how long until they figure out that EXPERIENCE reduces mistakes and EXPERIENCE knows what they should be paid. Hopefully, title companies and lender will start pulling their business when they repeatedly are delayed due to errors.
In all my written communications with SS, I simply state that my ‘usual’ fee is $100 and that’s pretty much what I get. I pick and choose when I’ll take less (not very busy today, close-by, easy job, etc.) and quite often, I get more.
Look, I don’t know more than anybody else (probably less, in fact) and I cannot figure out the algorithms being used to set fees, but I am fairly sure about this: Error-free work done at a fair price (for me, $100) begets a lot more work. I have three SS that give me a ton of work nearly every day and they all pay fair, usually within 20-30 days and they have even overlooked my goof-ups when I offer to fix them right away, at my cost, and even if I forego my agreed-upon fee. None of these quality houses has ever stiffed me. And I always go the extra mile for them when asked and even when they don’t ask.
I have someone on this site that doesn’t like me much and that person often takes shots at me because I adhere to the older ways of doing things. Well, all I know is that quality work, honesty, fairness in pricing surely beats the complaining I see from my nemesis and others who gripe about fees. I’m just not experiencing these bummer low fees for 250 page signings. Guess I’m lucky.
My advice is to listen to Arichter and LindaH-FL and cNsa5 whose accumulated wisdom and experience are worth heeding. Stick to your guns and keep your fees reasonable and clear before you accept and you’ll soon be making what you should be making. You’ll also be in a better place to negotiate when necessary. Be tough but fair.
And, if you want some laughs, see my post “T’was the Night Before Closing” on Story Time in this forum.
Agreed, it suddenly seems that the fees are getting lower and lower and they are not even wanting to negotiate. But that’s the last order I am accepting below 100 that was a bit crazy.
So what you need to do is make a map of the city. Then list those zip codes. Then list fees for whatever distance etc. When an offer comes through you will know exactly what to charge. You can also state that you charge $? For page counts over - ?.
I’ve been doing this for over 11 years and there are times when I do accept a lower fee for companies that give me lots of work. I request no less than $110 for companies that I rarely get work from.
So it’s at your discretion.
The settlement statement will list either “NOTARY FEE” or the “SIGNING AGENTS” name they are using- whoever you were subcontracted by.
In cases like that- yes - mention that they are getting paid x for this closing and you really need x to survive.
Hope this helps.
Sometimes the Notary Fees are itemized separately.
You tell them you’ve been blindsided by the package size and you’ll need a print fee and personal fee adjustment…total fee is 125.
Do the signing, take the low pay, and don’t whine. Consider it an education through the school of hard knocks. Whether you take any more signings from this company is up to you. I’ve learned the hard way through this school and now have most of my work direct from Title companies. Any signing company work I do now starts at $125, and is very local.
My rule is ALWAYS counter ANY signing less than $100 and it should be everyone’s rule too. Signing companies don’t care if you’re unhappy with the loan file. If you whine and complain they may raise the fee on this signing but they could block you from future signings.
Any company that offers $70 for any signing can block away, I don’t need to do business with them and neither should anyone else.
What do you mean by “whine and complain”? Do you consider negotiation or asking for fair wages equivalent to the work an NSA does “whining and complaining”? Because last time I checked nothing important happened in the world from not complaining about unfair systems or practices. The strike that beat Kellogg and improved conditions for workers recently didn’t happen because of outdated advice like “don’t complain.” No, “complaining” actually led to all the workers getting together and taking action to create change. It took centuries of “complaining” just for the slaves to be freed, for women to get the vote, for the minimum wage to be raised so that people could actually afford to LIVE. From the big issues to the small issues “complaining” about an issue is the first step towards progress being made. So, no, I vote for complaining about unfair practices. Whining? No. But, I get the feeling you’re just generalizing any and all feedback as “whining” in a kind of condescending way, although I could be wrong.
Perhaps whining is an unfair word to use, but if you feel you got taken by signing agency with low fee, and undisclosed huge loan packet, etc… join the club. It happens to everyone. My experience is the only way to get treated fairly is just refuse to work for low fees and bad companies. If you want to stand up and tell them to want a higher fee because the loan package is huge, go for it. But beware, you could get listed as “do not hire” which actually probably not a bad thing with a company that offers $70 signings.
I agree with you…but hard to ask for more money when it’s the weekend and you can’t reach anyone.
So what was the outcome? Did you get more money out of them, or just get the signing done and learn something of a lesson?