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do you have to tip the title person? If so, how much?
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MrsR
My love.
Member since 5/05 6247 total posts
Name:
Jennifer
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Re: do you have to tip the title person? If so, how much?
Posted by DjPiLL
Does the title person always go to the closing?
I have only done co-op closings... but my attorney just ordered the title work and brought it with her to the closing table.
There was no "title person present" at the closing table in a co-op closing.
Maybe house is different in this regard.
When I bought in WP there was no title person present - when I bought my house there was.
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Posted 8/17/05 12:51 PM  |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: do you have to tip the title person? If so, how much?
Posted by Eireann
Just in defense of title closers, they do not make a salary; they work per closing for individual companies. They typically make between $35-$40 per closing from their company. This does not cover travel expenses, nor FedEx bills they incur while overnighting the title info, etc. They do not get health insurance, vacation time, etc...
its true- they dont make a salary.. but they also dont make just $35-$40 per closing either.
at ALL of our closings, the title person would get 2 checks. one for their Company, and one made out Directly to them. this wasnt a tip- it was written on the HUD as a FEE. and the check it made out Personally to them, in their name. the lowest i had ever seen was $150, and that was Much lower than the average. One of the title closers used to charge $400-$500 for every closing that she did... and she didnt do Anything special, or more involved than any of the other closers... she just knew how to make the #s work in her favor. And that amount is Honestly for A days work! and most of them tend to do multiple closings a day. Honestly... i would take that $$$ over a salary any day 
Message edited 8/17/2005 6:23:09 PM.
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| Posted 8/17/05 6:22 PM |
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Re: do you have to tip the title person? If so, how much?
I didn't even know we were supposed to do such a thing...
Obviously, we didn't tip her. I feel bad about this now. But is this maybe a Long Island thing? I feel like our lawyer and paralegal were SO thorough that they would have mentioned this to us, and they didn't.
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| Posted 8/18/05 4:36 PM |
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hjgold58
LIF Zygote
Member since 8/14 1 total post
Name:
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Re: do you have to tip the title person? If so, how much?
Its the title companies fault for the foul up.
The closer is usually and independent person who represents the title company to clear all liens and to pay off any and all taxes and mortgages due.
They shouldnt be penalized for the short comings of the title company.
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| Posted 8/12/14 9:41 AM |
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| Pages: 1 [2] |
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