What do you charge for Fax Backs and Scan Backs
$25…as it means a trip home to scan and another trip out to drop the package. Rationale: Takes more time to scan than print…at least, for me it does…and the extra drive time/mileage. At a long ago point in time, ‘faxbacks’ actually were faxed. Seems to have become the generic term for ‘scan/e-mail or scan/upload’. Haven’t actually faxed a thing in years and no longer have that capability. I don’t have ‘faxbacks’ often.
I charge $15. I’d like to charge $25 because Arichter has a darn good point but since I’m just starting out I have to straddle the line between needing the work, and needing to get “paid what the time is worth”.
Being a “Newbee” does not decrease your expenses. Your cost is the same as a “veteran.” I’ve been forced to retire due to health reasons but I am still concerned for our part of the lending business. Really analyze the cost of doing business. When you add the “soft” and “hard” cost together, my (and your) total cost to do a loan is $65.05. (be sure to read the IRS guidelines for a “home office” to know what you can deduct .) Do you really want to take a fee for $65?
My minimum fee for a loan package was a BASE of $100.00 for up to 125 pages within 35 miles of my office. Add to that $25.00 for faxbacks. Add $25.00 if mileage was more than $35.00. (I live on the north side of a major metropolitan area in Texas.) During the “rush hour” times of the day, I would have to add a minimum of 35-45 minutes to accommodate traffic.
I would like to encourage you to not “get in a hurry” by lowering your fees. Continue to market your self thru the forums like Notary Cafe, Notary Rotary. These are the only places I paid to be listed - you get moved ahead of the “nonfee” notaries in your area - a really good advantage.
Hope this helps.
Another good option is to take your scanner with you.
My mobile plan includes a Hotspot; so I decided to purchase a Power Inverter for the car thru Amazon.
- Scan completed docs in the car.
- Check the docs one last time in .pdf form (a different perspective is wonderful for catching those rare mistakes).
- Email scanned docs to Escrow in less-than 10 minutes (they LOVE getting docs quickly).
- Drop-off the completed documents at the nearest FedEx/UPS.
- Onward to the next assignment like a super-hero!
I may get an inverter that has more watts - then I can bring my “mobile” printer.
If I remember correctly, the inverters that have higher watt output for printers require a hookup straight to the car battery… hummm no thanks. However, I’m still considering it… lol
My van’s power outlets are rated at 12 volts, 20 amps. As we all know, volts x amps =watts. I have a 300 watt inverter. Most of these run at around 80% efficiency. 300 - 60 = 240, exactly what my power outlets are rated for. If your scanner operates on 240 watts or less, that’s great, assuming your outlets run 20 amps. In my scenario, if my scanner would require more than 240 watts, I would need a bigger inverter, in which case it would need to be wired directly to the battery, as it would exceed the capacity of the power outlets. I don’t believe scanners run more than 240 watts, but that’s an assumption.
I did it for the first time last week. Makes no sense to print in both legal and letter size. The only problem if I make a mistake and it’s on legal size, I can’t borrow from the signer’s packet.
As a newbie, THANK YOU for the tips, PhilFarrer.
I’m just starting doing loan signings, though I’ve been a notary for 5 years already. My first platform has been Snapdocs, and my signing business, guess who? … exactly! C2C
I feel that their underpayment is an insult, and I only have been doing business with them since 3 months ago, the only good thing is that I’ve been learning, but I noticed that as long you read very carefully the loan package and red flags with posties every where signatures go, it shouldn’t be a problem. So far my signings have been very successful, and I feel that is time for me to part ways with C2C… that’s why I subscribed myself with Notary Cafe! Best idea! I’ve been learning a lot… now I have an idea how to price my valuable work and time.