| Posted By |
Message |
| Pages: [1] 2 3 4 |
strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
|
tipping at closing?
do you have to tip anyone and if you do who gets a tip?
|
Posted 10/21/08 9:50 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
|
Re: tipping at closing?
The title closer should get a tipped.
|
| Posted 10/21/08 10:27 PM |
| |
|
monkeybride
My Everything
Member since 5/05 20541 total posts
Name:
|
Re: tipping at closing?
We've never tipped anyone. Maybe it's a NY thing. 
|
| Posted 10/21/08 10:56 PM |
| |
|
Deeluvsvinny
DONE
Member since 10/08 4952 total posts
Name:
Whatever
|
Re: tipping at closing?
it's recommended, but not necessary or even that typical to tip the title closer. This is the person that takes the deed and mortgage to get recorded..i think it's a good idea to be nice to them and give them a tip...just in case. So that they make sure everything gets done. They also make the least of anyone at the closing and probably do almost all the work there.
|
| Posted 10/21/08 11:05 PM |
| |
|
strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
|
Re: tipping at closing?
what is a good amount for the title closer?
|
| Posted 10/22/08 10:10 AM |
| |
|
qtdimps231
LIF Toddler
Member since 11/07 477 total posts
Name:
Diana
|
Re: tipping at closing?
we were told closers get $100 cash. they do most of the work and dont get paid as much as the others.
|
| Posted 10/22/08 10:12 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
I didn't tip anyone at closing. I don't think it's necessary either.
|
| Posted 10/22/08 10:21 AM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so  the title closer does the most work at the closing and they DESERVE a tip!
|
| Posted 10/22/08 10:27 AM |
| |
|
monkeybride
My Everything
Member since 5/05 20541 total posts
Name:
|
Re: tipping at closing?
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
Why? They get paid for doing their job don't they? It's not like they are a waitress making less money because they have a job that is tip based.
Maybe when I get tipped for going above and beyond at my job I'll be more willing to tip everyone and their brother.
|
| Posted 10/22/08 10:40 AM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Posted by monkeybride
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
Why? They get paid for doing their job don't they? It's not like they are a waitress making less money because they have a job that is tip based.
Maybe when I get tipped for going above and beyond at my job I'll be more willing to tip everyone and their brother.
No they don't get paid..they are 1099 and work on tips and get a small amount for picking up mortgages thts it. They are not salaried or anything and they work very hard
|
| Posted 10/22/08 10:53 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
I'm assuming a title closer gets paid a fair salary for their job??? Where does a tip factor in? I paid quite a bit of money to the title company for their service why would I be required to tip on top of that? If I follow that train of thought, why shouldn't I tip the attorneys as well???
|
| Posted 10/22/08 10:58 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by jklein1323
Posted by monkeybride
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
Why? They get paid for doing their job don't they? It's not like they are a waitress making less money because they have a job that is tip based.
Maybe when I get tipped for going above and beyond at my job I'll be more willing to tip everyone and their brother.
No they don't get paid..they are 1099 and work on tips and get a small amount for picking up mortgages thts it. They are not salaried or anything and they work very hard
If they are 1099 that means they are contracted. They are still getting paid for their service. My attorney is 1099'ed - should I have tipped too?
When did 1099 compensation become a criteria for tipping?
|
| Posted 10/22/08 11:00 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by jklein1323
Posted by monkeybride
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
Why? They get paid for doing their job don't they? It's not like they are a waitress making less money because they have a job that is tip based.
Maybe when I get tipped for going above and beyond at my job I'll be more willing to tip everyone and their brother.
No they don't get paid..they are 1099 and work on tips and get a small amount for picking up mortgages thts it. They are not salaried or anything and they work very hard
I have an addition question.
What is the typical range that a title closer gets paid to attend a closing?
|
| Posted 10/22/08 11:01 AM |
| |
|
Aries14
Can't plan life...
Member since 8/08 2860 total posts
Name:
|
Re: tipping at closing?
Posted by shamrock124
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
I'm assuming a title closer gets paid a fair salary for their job??? Where does a tip factor in? I paid quite a bit of money to the title company for their service why would I be required to tip on top of that? If I follow that train of thought, why shouldn't I tip the attorneys as well???
I actually think that closers DO NOT get a fair salary. I think that they do work mostly on tips. My attorney is a good friend of mine and he told us we should definitly tip. We gave ours $150. He did a lot of the work and running around. We also had problems bc we were just married and I did not change my name on everything yet. He did all the calling around and making sure that we closed that day - we almost didn't bc of the name thing and it was nearing 5 pm.
|
| Posted 10/22/08 11:02 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by Lake0703
I actually think that closers DO NOT get a fair salary. I think that they do work mostly on tips. My attorney is a good friend of mine and he told us we should definitly tip. We gave ours $150. He did a lot of the work and running around. We also had problems bc we were just married and I did not change my name on everything yet. He did all the calling around and making sure that we closed that day - we almost didn't bc of the name thing and it was nearing 5 pm.
What is the pay scale? I'm curious.
Based on 5 closing, 5 days a week, 52 weeks a year with a standard $100 tip - that is a gross salary of $130,000 in tips alone.
|
| Posted 10/22/08 11:12 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
At my 4 closings...the buyers' attorney and bank attorney did most of the work. The closer did very little except to tell me how much more money I owed because of miscalculations.
|
| Posted 10/22/08 11:14 AM |
| |
|
hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
|
Re: tipping at closing?
I am very confused?? So the title person DOES NOT get a salary? It seems 1099 is a union, so how can they not get paid? Or is it that it is just not a high salary and thats why we should tip?
If that is the rationale I don't feel a tip is necessary. Lots of jobs don't pay wonderful salaries and thats just the way it goes. My husband works for the city..nobody is tipping him.
If I am incorrect please let me know the rationale of why they should get tipped.
|
| Posted 10/22/08 11:31 AM |
| |
|
strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
|
Re: tipping at closing?
are the title closer/company responsible for getting the survey as well? ...if i do end up tipping it will not be $100---i feel that is too high!....
|
| Posted 10/22/08 11:34 AM |
| |
|
strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
|
Re: tipping at closing?
Posted by shamrock124
Posted by Lake0703
I actually think that closers DO NOT get a fair salary. I think that they do work mostly on tips. My attorney is a good friend of mine and he told us we should definitly tip. We gave ours $150. He did a lot of the work and running around. We also had problems bc we were just married and I did not change my name on everything yet. He did all the calling around and making sure that we closed that day - we almost didn't bc of the name thing and it was nearing 5 pm.
What is the pay scale? I'm curious.
Based on 5 closing, 5 days a week, 52 weeks a year with a standard $100 tip - that is a gross salary of $130,000 in tips alone.
that's high! even minus 30K that is still a lot of money being made! so even if you knock it down to 100K and add their salary in--that's a lot of $$$$....it's funny when you put things in perspective like that....maybe i should switch careers!
|
| Posted 10/22/08 11:36 AM |
| |
|
CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
|
Re: tipping at closing?
Posted by strongisland
are the title closer/company responsible for getting the survey as well? ...if i do end up tipping it will not be $100---i feel that is too high!....
I don't know - I HAD to get the survey for both properties I bought from the town and give it to the title company.
|
| Posted 10/22/08 11:46 AM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Posted by shamrock124
Posted by Lake0703
I actually think that closers DO NOT get a fair salary. I think that they do work mostly on tips. My attorney is a good friend of mine and he told us we should definitly tip. We gave ours $150. He did a lot of the work and running around. We also had problems bc we were just married and I did not change my name on everything yet. He did all the calling around and making sure that we closed that day - we almost didn't bc of the name thing and it was nearing 5 pm.
What is the pay scale? I'm curious.
Based on 5 closing, 5 days a week, 52 weeks a year with a standard $100 tip - that is a gross salary of $130,000 in tips alone.
When times are good yes they can make that much money a year..its a great job to have when the market is good...but also keep in mind they have NO benefits everything they have they must get themselves..Health Insurance, retirement plans etc.
|
| Posted 10/22/08 12:09 PM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Posted by shamrock124
Posted by jklein1323
Posted by shamrock124
I didn't tip anyone at closing. I don't think it's necessary either.
These statements make me so the title closer does the most work at the closing and they DESERVE a tip!
At my 4 closings...the buyers' attorney and bank attorney did most of the work. The closer did very little except to tell me how much more money I owed because of miscalculations.
Title closer does a lot, they are responsible for any pay offs, all the paper work being returned to the title company so your deeds and mortgages are recorded, any problems that arise they take care of. you might not see alot of their work all the time but they do it trust me.
|
| Posted 10/22/08 12:11 PM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Posted by hotelcalie
I am very confused?? So the title person DOES NOT get a salary? It seems 1099 is a union, so how can they not get paid? Or is it that it is just not a high salary and thats why we should tip?
If that is the rationale I don't feel a tip is necessary. Lots of jobs don't pay wonderful salaries and thats just the way it goes. My husband works for the city..nobody is tipping him.
If I am incorrect please let me know the rationale of why they should get tipped.
1099 is an independent contractor not union at all.
|
| Posted 10/22/08 12:12 PM |
| |
|
jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
|
Re: tipping at closing?
Title Closers are professionals with the proper training to ensure the Title Insurance Company's and their insured's Interests are protected at a real estate closing. The Closer typically has the only personal interaction between the insured and the title agent. The Closer serves an important function in the closing, because if a title is not "clear" of all title issues, it will prevent the closing from being completed. In addition, official documents such as deeds and mortgages are executed. It is the Closer's responsibility to ensure these documents are prepared, executed, and notarized correctly so they can be recorded in the County Clerk's office. The Closer (as Notary) is entrusted with the duty of properly verifying the parties' identification for signing. Furthermore, monies are collected to pay off current liens, mortgages, and judgments in order to clear the property's title. Can you imagine buying a home with the prior owner's open mortgage on it? The Closer is the last safe-guard to ensure a clear title to the home, and a piece of mind for the purchaser.
|
| Posted 10/22/08 12:14 PM |
| |
|
MrsRbk
<3 <3 <3 <3
Member since 1/06 19197 total posts
Name:
Michelle
|
Re: tipping at closing?
We never tipped the title closer at our closing. In fact, we never even met the title closer. I'm fairly certain we never had any interaction with that person as well.
|
| Posted 10/22/08 12:17 PM |
| |
|
| Pages: [1] 2 3 4 |
