| Posted By |
Message |
| Pages: [1] 2 3 4 |
LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
|
Tipping at closing or before??? Who gets what??
We're not exactly sure how this works. Whom did you tip, or did you give a token of thanks (bottle of wine, or something) to anyone?
|
Posted 2/16/06 4:18 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
ckdk
My girls
Member since 5/05 7027 total posts
Name:
Cheryl
|
Re: Tipping at closing or before??? Who gets what??
You will get mixed reviews on this, but we tipped our title closer, lawyer gets a big enough fee, no tip or gift necessary.
|
| Posted 2/16/06 4:20 PM |
| |
|
CAJ
woulda, coulda, shoulda
Member since 12/05 3366 total posts
Name:
CJ
|
Re: Tipping at closing or before??? Who gets what??
Our lawyer told us that 150.00 was the normal tipping amount...  We did that the first time, but at our second closing we gave 50.00 Which I am sure was enough for a person that I will never see again, at my next closing I think I will give 20.00! 
|
| Posted 2/16/06 4:24 PM |
| |
|
patchyfogg
LIF Infant
Member since 1/06 328 total posts
Name:
|
Re: Tipping at closing or before??? Who gets what??
$75-$100.
You'll notice that those who don't tip often run into paperwork nightmares, as in the paperwork was turned over to the County (or whomever) in a less than expeditious manner.
But, since it burns you to tip the Closer, clearly spell it out in the Memo field of the check as it could theoretically become taxable in the event of an audit.
|
| Posted 2/16/06 4:30 PM |
| |
|
ODonnell
.
Member since 9/05 5983 total posts
Name:
|
Re: Tipping at closing or before??? Who gets what??
Our attorney added in $100 to the closing costs. I knew nothing about tipping until I saw this at the closing.
ETA: That tip was for the title company representative.
Message edited 2/16/2006 4:41:52 PM.
|
| Posted 2/16/06 4:32 PM |
| |
|
LSP2005
Bunny kisses are so cute!
Member since 5/05 19460 total posts
Name:
L
|
Re: Tipping at closing or before??? Who gets what??
we did not tip anyone at our closing and frankly immediately after one part of it was done the person who it was with left. So at the end the only person there besides us was our attorney. We paid him, so no one got a tip.
|
| Posted 2/16/06 4:36 PM |
| |
|
CAJ
woulda, coulda, shoulda
Member since 12/05 3366 total posts
Name:
CJ
|
Re: Tipping at closing or before??? Who gets what??
I dont understand why you would tip a professional person, for doing their job...Why not tip everybody then?
Sorry if anybody is in the biz!
Message edited 2/16/2006 4:47:15 PM.
|
| Posted 2/16/06 4:39 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Tipping at closing or before??? Who gets what??
I never heard of this
I have to ask my hubby and my dad about this
(Dad former real estate broker- Hubby owns a mortgage company)
|
| Posted 2/16/06 4:42 PM |
| |
|
LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
|
Re: Tipping at closing or before??? Who gets what??
Posted by Beth1210
I never heard of this
I have to ask my hubby and my dad about this
(Dad former real estate broker- Hubby owns a mortgage company)
I am SOOO glad you said this. I'd be happy to see what your hubby says.
|
| Posted 2/16/06 4:54 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Tipping at closing or before??? Who gets what??
I just called my Dad he said
just the title closer - $50-$100
|
| Posted 2/16/06 5:00 PM |
| |
|
DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
|
Re: Tipping at closing or before??? Who gets what??
You don't tip anyone. Blah.
I didn't tip anyone. My lawyer didn't say to tip anyone. Its hogwash IMO.
|
| Posted 2/16/06 5:20 PM |
| |
|
dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
|
Re: Tipping at closing or before??? Who gets what??
Posted by Beth1210
I just called my Dad he said
just the title closer - $50-$100
It depend on how much the home costs. We tipped our title closer as well.
|
| Posted 2/16/06 5:31 PM |
| |
|
DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
|
Re: Tipping at closing or before??? Who gets what??
It BOGGLES MY MIND that people here tip anybody at the closing table.
http://www.findalink.net/tippingetiquette.php
Realtors® or real estate agents - Nothing. The best way to say thanks is to refer people to them.
Title company closing agents - Nothing.
Mortgage loan officer - Nothing.
Financial planners - Nothing.
|
| Posted 2/16/06 5:35 PM |
| |
|
LIBOUND
Texting king
Member since 10/05 5289 total posts
Name:
Suzy
|
Re: Tipping at closing or before??? Who gets what??
Posted by DjPiLL
It BOGGLES MY MIND that people here tip anybody at the closing table.
http://www.findalink.net/tippingetiquette.php
Realtors® or real estate agents - Nothing. The best way to say thanks is to refer people to them.
Title company closing agents - Nothing.
Mortgage loan officer - Nothing.
Financial planners - Nothing.
Thanks for that. MY dh and I were hearing waaay too many things, and I knew you guys would come thru for me!!
|
| Posted 2/16/06 5:36 PM |
| |
|
Eva Luna
Be kind...life's hard!
Member since 8/05 4750 total posts
Name:
God, bless & heal my DH, JenG's DH Rob & DebG
|
Re: Tipping at closing or before??? Who gets what??
Posted by DjPiLL
It BOGGLES MY MIND that people here tip anybody at the closing table.
http://www.findalink.net/tippingetiquette.php
Realtors® or real estate agents - Nothing. The best way to say thanks is to refer people to them.
Title company closing agents - Nothing.
Mortgage loan officer - Nothing.
Financial planners - Nothing.
I have to agree...this must be a NY thing (we're tipping obsessed!) and I bet my sister (a RE agent in GA) has never heard of this!!
|
| Posted 2/16/06 5:39 PM |
| |
|
stayandjohn
Our life is complete
Member since 5/05 5909 total posts
Name:
Stacey
|
Re: Tipping at closing or before??? Who gets what??
My husband is a title closer. There is a lot of work that goes into preparing your closing documents. Its not a one day thing. He does appricate tips but not giving one does not make your paperwork go through any slower. Your paperwork is held up on the citys end not the title company end
|
| Posted 2/16/06 5:47 PM |
| |
|
danielleandscott
My new 71 Super Beetle
Member since 5/05 13476 total posts
Name:
Scott
|
Re: Tipping at closing or before??? Who gets what??
Posted by DjPiLL
You don't tip anyone. Blah.
I didn't tip anyone. My lawyer didn't say to tip anyone. Its hogwash IMO.
Gotta Agree with Rich - Did I just type that lol
Scott
|
| Posted 2/16/06 5:48 PM |
| |
|
|
|
Re: Tipping at closing or before??? Who gets what??
We didn't tip anyone. It didn't even occur to us.
|
| Posted 2/16/06 7:02 PM |
| |
|
Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
|
Re: Tipping at closing or before??? Who gets what??
Posted by DjPiLL
You don't tip anyone. Blah.
I didn't tip anyone. My lawyer didn't say to tip anyone. Its hogwash IMO.
ditto...
and never had any paperwork issues
sorry we pay these people ENOUGH money as is....
I'll be DAMNED if i am "tipping" ANYONE
|
| Posted 2/16/06 7:06 PM |
| |
|
stayandjohn
Our life is complete
Member since 5/05 5909 total posts
Name:
Stacey
|
Re: Tipping at closing or before??? Who gets what??
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing. The title company makes the $$$, not the closer, but the title company fees are regulated by the state. However your mortgage broker, attorney, and bank attorney are not regulated by the state and therefore are making $$$$ off of you.
|
| Posted 2/16/06 7:22 PM |
| |
|
DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
|
Re: Tipping at closing or before??? Who gets what??
Posted by stayandjohn
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing.
I know where you are going for this... but no offense I really don't buy it. For a number of reasons.
First off... people that work McDonalds make $5.50 an hour... probably around $45 a shift. Like the guy that works at McDonalds... just because you don't make a lot... that doesn't mean they deserve to be tipped either.
Second... show me ANY tipping ettiquite article that says these people should be tipped. I am not even asking for a bunch of articles. Show me ONE! A single article! This isn't even considered a grey area tipping category... like a gas pump attendant or a postal worker or even the guy at Starbuks that makes your $5 latte. Every single article I have read regarding ANYONE at the closing table says they do NOT get tipped!
Third... if anyone should be tipping these people... it shoud be the attornies who hire these title closers! Think about it... if you have title issues.... who do you complain to? You complain to your attorney. Your attorney has to pick their title company carefully... and it only benefits them to have a very smooth title process. And even then the attornies shouldn't be tipping them. You know how you can thank the title closer? The attorey gives them repeat business!
Finally... ask anyone else outside of NY. In fact... ask anyone outside of Long Island or the metro NYC area. These people do not get tipped in any other state. The fact that they are getting tipped by some in Long Island is really a shame because now these people EXPECT to be tipped.
I could go on if I had to. OMG I would LOOOOOOVE to have some attorney try to tell me to tip a title closer. Because the first question I would ask is WHY... and the second question is WHY doesn't anyone outside of NYC do this?
Message edited 2/16/2006 7:43:02 PM.
|
| Posted 2/16/06 7:35 PM |
| |
|
Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
|
Re: Tipping at closing or before??? Who gets what??
Posted by stayandjohn
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing. The title company makes the $$$, not the closer, but the title company fees are regulated by the state. However your mortgage broker, attorney, and bank attorney are not regulated by the state and therefore are making $$$$ off of you.
but that isn't my problem....
If i gotta pay for it..then i gotta pay for it
how it is divided up isn't my problem..
|
| Posted 2/16/06 7:44 PM |
| |
|
stayandjohn
Our life is complete
Member since 5/05 5909 total posts
Name:
Stacey
|
Re: Tipping at closing or before??? Who gets what??
Posted by DjPiLL
Posted by stayandjohn
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing.
I know where you are going for this... but no offense I really don't buy it. For a number of reasons.
First off... people that work McDonalds make $5.50 an hour... probably around $45 a shift. Like the guy that works at McDonalds... just because you don't make a lot... that doesn't mean they deserve to be tipped either.
Second... show me ANY tipping ettiquite article that says these people should be tipped. I am not even asking for a bunch of articles. Show me ONE! A single article! This isn't even considered a grey area tipping category... like a gas pump attendant or a postal worker or even the guy at Starbuks that makes your $5 latte. Every single article I have read regarding ANYONE at the closing table says they do NOT get tipped!
Third... if anyone should be tipping these people... it shoud be the attornies who hire these title closers! Think about it... if you have title issues.... who do you complain to? You complain to your attorney. Your attorney has to pick their title company carefully... and it only benefits them to have a very smooth title process. And even then the attornies shouldn't be tipping them. You know how you can thank the title closer? The attorey gives them repeat business!
Finally... ask anyone else outside of NY. In fact... ask anyone outside of Long Island or the metro NYC area. These people do not get tipped in any other state. The fact that they are getting tipped by some in Long Island is really a shame because now these people EXPECT to be tipped.
I could go on if I had to. OMG I would LOOOOOOVE to have some attorney try to tell me to tip a title closer. Because the first question I would ask is WHY... and the second question is WHY doesn't anyone outside of NYC do this?
To your first point, exactly the dont deserve to be tipped, but the guy in McD's is only doing 1 job, getting your food, the title closer has to make sure everything is clear to close, make the payments to the mortgage co, make sure the city gets the paperwork etc...a tip is a nice GESTURE.
#2 No, your right I cant show you any articles, but once again its a gesture. Not required. You tip the pizza guy for delivering pizza? He didnt make it. Tip your DJ after a party? Why he got paid?
#3 As for attorney's, NYS is an attorney state. Therefore everyone shows up at a closing. Outside of NY the attorney does everything including the title work, henceforth no title closer gets tipped. With regard to a attorney chosing a title company carefully 80% of attorneys are on a take. They get a % or a kickback from the title company since they overcharge the buyer.
|
| Posted 2/16/06 8:01 PM |
| |
|
stayandjohn
Our life is complete
Member since 5/05 5909 total posts
Name:
Stacey
|
Re: Tipping at closing or before??? Who gets what??
Posted by Redhead
Posted by stayandjohn
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing. The title company makes the $$$, not the closer, but the title company fees are regulated by the state. However your mortgage broker, attorney, and bank attorney are not regulated by the state and therefore are making $$$$ off of you.
but that isn't my problem....
If i gotta pay for it..then i gotta pay for it
how it is divided up isn't my problem..
Your right, but is it ok for your attorney to be paid $3000 for doing nothing.
|
| Posted 2/16/06 8:02 PM |
| |
|
Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
|
Re: Tipping at closing or before??? Who gets what??
Posted by stayandjohn
Posted by Redhead
Posted by stayandjohn
Just an FYI, the title closer is independant of the title company and only makes anywhere from $30-45 per closing. The title company makes the $$$, not the closer, but the title company fees are regulated by the state. However your mortgage broker, attorney, and bank attorney are not regulated by the state and therefore are making $$$$ off of you.
but that isn't my problem....
If i gotta pay for it..then i gotta pay for it
how it is divided up isn't my problem..
Your right, but is it ok for your attorney to be paid $3000 for doing nothing.
i will be paying my attorney 950
|
| Posted 2/16/06 8:04 PM |
| |
|
| Pages: [1] 2 3 4 |
