I was just curious as to what everyone charges for their work.
My Fees are as follows:
Purchase Loan (Buyer Pkg)… $175
Refinance Pkg… $150
Loan Application …$75
Commercial Loan (Buyer)… $150
Scan Back … $25
GNW(w/2 stamps)…$50 (7 miles or less)
I am in Atlanta, GA and most of my work is usually less than 7 miles of my home. The farthest I’ve traveled was 8 miles for a Loan Signing and 15 for GNW.
No one can tell you what to charge for your business. I will say that most signing companies would say your fees are too high. My suggestion would be to talk to other signing agents in your State to get a better understanding of your market. Also check your state law to ensure your charging correctly for GNW signings.
(AR) Fee structure is extremely area-specific. We all really should begin to put our state at the beginning of any post–like I just did. FWIW: Your fees would be high for my area when it’s local; average when some travel; low if really distant. And here, it’s not only the mileage, but the travel TIME that is a major factor.
Title companies and Atty’s have given us these same amounts, but you can whistle Dixie to get a SS to pay those amounts. Personally I think they are what our fees should be.
@DocsToSign Location is everything and you don’t say where you are; location has a huge impact on what fees will be honored.
Some things jumped out at me in your fee structure:
Your fee for a HELOC - IME, both business and personal, HELOCs are smaller packages and since they’re usually second mortgages, borrowers have been through the drill so they’re quicker and easier - (unless, of course, they’ve grown in size since I did them)
Sellers’ package - again, smaller package and fewer documents so less printing and less time;
You charge 50% LESS for a loan application when a loan application is, many times, just as large as a final signing package BUT can take twice long to accomplish - borrowers have questions at initial application and most times they don’t have the required documents to return to lender with the app. Granted you only print one copy but your time is still the same if not longer.
Again, where you’re located makes all the difference, and you also don’t include here how far you’re willing to travel for these established fees (excluding your GNW fee which you did). But if it were me I’d seriously revisit my fee for an app signing.
As for the mileage, again, location. Example: the only thing within 7 miles or less for me is a gas station…lol. Even if I had a signing for the person next door to me I’d have a 30-mile round trip to drop the package for return shipping.
Just my .02 FWIW
Truth!!! And for me in my area when I did them, even title companies didn’t want to pay that much…
Congratulations! you are on your way to becoming another six figures Notary!
Oh boy. I love it. Thanks Linda
(AZ)…. If I were to advertise those prices in my area I would grow old waiting for the phone to ring.
GNW is $2 per stamp in GA, that’s my fee with mobile/travel to the client.
Do you have maximum mileage rates you can charge… for example in AZ the max is $0.44/mile
Sooo…you do know Georgia is an attorney only state? Your entire fee structure went right out the window - except for your GNW and your app fee.
I don’t know about anyone else but I have yet to come across a SS that is willing to pay $25 for a scan back… if your math is right. If you take a loan package for $75 and do a scan back ( which all the loan apps that I have done requires it) you would charge them in total $100?…. No bueno
Good point, I live in Atlanta, GA in the city where I am surrounded by everything. I live in a very convenient area. My farthest signing have been 15 miles away, for the most part most of my signings have been 7 miles or less. Atlanta is quite congested therefore I don’t travel farther than about 20 miles and I work between 10am and 5pm to avoid high traffic times.
Signing Services are quite different, Of course the prices are lower for SS. Loan pkg with Scanbacks I usually get $115-$125. In the beginning I accepted what they paid and 2 of my SS I asked to be their exclusive agent for my area and they agreed. They like my work and has been very impressed with me therefore I get decent pay from them.
New SS I sign up with I make a little lower and I accept it because it’s alway 4-5 miles away from my location. All of my assignment have been so close (usually less than 7 miles from my home).
Awww yeah, I know GA is an attorney state. I have marketed to some Attorneys and they have used me at my rate.
Thank you @mannie1950; I have been in 6-figure jobs for a while now and I know my value and what my time is worth. I bring a lot to the table as I am super detailed oriented. I even call them meeting places and find out their hours and have to go back to SS and the borrower because we couldn’t be accommodated at certain restaurants like the borrower wanted. I take care of every little detail which yields me a premium. I’m constantly in communication with Attorney’s, Lenders and SS throughout and they love it.
I learned long time ago, You don’t get paid what you’re worth, only what you negotiate.
In Oklahoma we charge $5 per stamp. I surly wouldn’t get any gnw if I added $40 to travel only 7 miles. But if your getting good gnw traffic with your fees I say run with that!!
Fortunately for me the part of Atlanta I’m in is a very wealthy area therefore I can charge that and more. There are those in my area that charge $75 for one stamp an $5 for additional stamps; People in this area don’t mind because they are quite wealthy. Even if I travel outside of Buckhead, I charge even more and people will pay. I have clients that will calll me whenever they have something that need Notarize and they refer me to their friends. I marketed to various businesses and to every Nursing Home, Senior Living and Assisted Living community within 15 miles of my home. Being a nurse makes my Seniors love me along with my kindness and patience. One thing I do know about Seniors is that they take their sweet time and I let them, I allow for the time. Most times I can get out in 15-30 minutes and not make them feel rushed.