Here is my approach. Iām bold about the terms that I require. First, my fee is due in-full regardless of the signerās decision to sign or not sign and regardless of the loan funding or not funding. Once I have printed the docs the full fee is due and the Ttile/SS has to agree to that before any further terms and conditions are negotiated.
Next, they have to pay for my drive time and mileage round trip. Please read ātime and mileageā. My car has costs and I have costs. They have to pay the carās costs and the have to pay me to drive my car.
Lastly, they have to pay my full fee for the assignment, not their fee but my fee. Bloated packages have higher fees.
Scanbacks have additional fees. Places like the UPS Store or Staples charge $3 for the first scanned page and $2 for each additional page. Figure that cost on 200 pages and then decide if $50 is a bargain for your scanback fee.
So, you may be wondering if that ever works. Yes, it does and Iāve done a number of these jobs. The highest paid me $1,300. You see, when I presented the docs to the borrowers they said the numbers were wrong and they were not going to sign. I was paid $650 for the first trip and $650 to go back when the numbers were corrected.
The second job paid $1,100. Again the signersā refused to sign on the first appointment. I was paid for the first trip and second trip.
Right now, Iām in the middle of a 3 part assignment. On the first trip, Title neglected to list 1 of the 4 owners on the documents. On the second trip, that 4th signerās name was spelled wrong and she was listed as a Jr. Now Iām waiting for corrected docs to go for the 3rd time. Each time Iām being paid in full.
Finally, letās talk about your concern on due diligence. There is always time to check out the company. It can be done as soon as you hang up and while you are waiting for the docs. When an issue(s) is discovered, like late/slow payment, I call them right back and explain my concern(s). Then, I ask if they will pay me in advance, or list my name and fee on the Settlement Statement , or if they want to reassign the job to another notary.
So you may be wondering if they ever pay in advance? Well, yes they have.