I’m just wondering how you would answer this. Somebody just emailed asking me what my fees were - she said, “What are your fees for a buyer/refi signing. What are your fees for a seller signing?” I’m not sure how to answer that because on Snap Docs I just go with whatever fees they offer. And when I’m going direct, I usually just charge $100 for everything.
Should I be charging more for refinancing?
Thank you in advance for your help.
$150-$200, depends on how many pages, distance… add another $20 or so for scanback. But don’t let them put a fee on your work.
Oh wow thank you for your quick response. I really appreciate it.
Would you pay the same for a hamburger as a steak dinner? Of course not! Now that you have a few under your belt, you really need to start evaluating your worth. One size does NOT fit all. Yes, there are many variables, but they all come down to TIME & EXPENSES. If you don’t value your own time, nobody else will.
Fabulous advice!!! Thank you!
You’re the best thank you soooo much!!
That was very good advice… what about RON? How much should one charge for RON??
Much of this depends on the area you live in and your experience. Certain areas of the country will not bear the $150-200 fee. And, if you are starting out, you may need to take a lower fee to get the experience and then raise it based on your own decisions of what you expect from your business.
As to the fee for a RON signing, you might want to check with what your state says you are allowed to charge for an electronic notarization. That may limit what you are legally allowed to charge. If you are on DocVerify, there are additional expenses associated with using their platform so you might be able to charge additional fees to cover those expenses but you might want to check with your state on that as well.
I think everyone starting out wrestles with this question. One thing that I have done is to make a fee schedule based on zipcodes (Driving is a big expense in Texas) I also charge more for weekends. I will charge about $125 for a refi in my zipcode… the next nearest zipcodes are $135 . etc…
Good idea … $10 for zip codes other than yours
Maybe not…depends upon way more than a zip code. Travel time & mileage are large factors.
For example, there is a high rise in Chicago that has its own zip code. In small town/rural areas of this vast country, a whole county can be but one zip code. Everyone needs to figure it out for their own UNIQUE service area.
That is true… my city is one zip code for a large area.
Don’t forget to add $$ for PPE replacement. You should be using one set of gloves and a fresh face mask for each and every closing. You can reuse the face masks by using washable ones. Also the disinfectant spray and hand sanitizer you are using prior to getting back into your vehicle. You don’t want to be the one who is carrying the virus from place to place, as well as taking it home. (Once in your vehicle, you would need to disinfect your vehicle before you could say it wouldn’t transfer the virus to someone else.) Title shouldn’t expect you to carry the financial burden of PPE. It just keeps getting more and more expensive for the Notary and no one seems to see it. E&O is going up, fees for renewal and BGC are going up, while the Title companies are lowering their fees. Stick to your guns. Make a list of your costs and make sure you are making a profit big enough to cover your personal bills.