| Posted By |
Message |
malone130
LIF Infant
Member since 10/06 126 total posts
Name:
|
Tip the title person at closing
Has anyone heard of this?
|
Posted 10/10/07 9:28 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
DJJ914
LIF Adolescent
Member since 9/07 715 total posts
Name:
|
Re: Tip the title person at closing
Yes I had to when I went to closing. I have no idea why though. They don't do anything
|
| Posted 10/10/07 9:34 PM |
| |
|
malone130
LIF Infant
Member since 10/06 126 total posts
Name:
|
Re: Tip the title person at closing
How did you find out that you needed to tip and what is the customary amount?
|
| Posted 10/10/07 9:35 PM |
| |
|
csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
|
Re: Tip the title person at closing
Posted by malone130
How did you find out that you needed to tip and what is the customary amount?
Your attorney will tell you but it is usually 100 to 175.
|
| Posted 10/10/07 9:43 PM |
| |
|
ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
|
Re: Tip the title person at closing
Our "tip" was one of our closing costs. Our attorney told us to write a check to the title person for $100.
|
| Posted 10/11/07 8:11 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Tip the title person at closing
No. It's not a tip. It's an appearance fee (usually about $100). lt was part of our closing costs - we didn't give him anything separate.
|
| Posted 10/11/07 8:49 AM |
| |
|
VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
|
Re: Tip the title person at closing
Our tip was one of the closing costs as well and was incorporated into the check we brought with us.
I have to say, our title person worked her butt off at the table. Not only was she the notary, but she had a thousand calls to make to check numbers and such.
Since she was the notary, I think that is what the tip or fee is - when you get something notarized you are supposed to pay a fee, so even though it is said to be a tip, I'm looking at it as a fee for notary.
Message edited 10/11/2007 8:53:43 AM.
|
| Posted 10/11/07 8:53 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Tip the title person at closing
Posted by VickiC
Our tip was one of the closing costs as well and was incorporated into the check we brought with us.
I have to say, our title person worked her butt off at the table. Not only was she the notary, but she had a thousand calls to make to check numbers and such.
Since she was the notary, I think that is what the tip or fee is - when you get something notarized you are supposed to pay a fee, so even though it is said to be a tip, I'm looking at it as a fee for notary.
By law notaries can't charge more than $2 to notarize a documment. FYI.
|
| Posted 10/11/07 9:05 AM |
| |
|
VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
|
Re: Tip the title person at closing
Posted by Kara
Posted by VickiC
Our tip was one of the closing costs as well and was incorporated into the check we brought with us.
I have to say, our title person worked her butt off at the table. Not only was she the notary, but she had a thousand calls to make to check numbers and such.
Since she was the notary, I think that is what the tip or fee is - when you get something notarized you are supposed to pay a fee, so even though it is said to be a tip, I'm looking at it as a fee for notary.
By law notaries can't charge more than $2 to notarize a documment. FYI.
Yes, I know. She notarized at least $30 worth of stuff, maybe more. Between that and all the calls she made, I think she earned the $100.
|
| Posted 10/11/07 9:08 AM |
| |
|
MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
|
Re: Tip the title person at closing
The title closer actually has a lot of work to do at the table. They do the title mark up, call all of the municipalties to ensure that there have been no liens placed on the property (date down the policy). The title company is on the hook for a lot so he/she needs to have all of its i's dotted and t's crossed.
They also take the deed and security instrument to the county office to have it recorded.
|
| Posted 10/11/07 9:13 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Tip the title person at closing
Posted by VickiC
Posted by Kara
Posted by VickiC
Our tip was one of the closing costs as well and was incorporated into the check we brought with us.
I have to say, our title person worked her butt off at the table. Not only was she the notary, but she had a thousand calls to make to check numbers and such.
Since she was the notary, I think that is what the tip or fee is - when you get something notarized you are supposed to pay a fee, so even though it is said to be a tip, I'm looking at it as a fee for notary.
By law notaries can't charge more than $2 to notarize a documment. FYI.
Yes, I know. She notarized at least $30 worth of stuff, maybe more. Between that and all the calls she made, I think she earned the $100.
I didn't say they don't earn it. I said it's not a tip. It's an appearance fee - a set fee, not optional like a tip is. It should be part of the closing costs. They don't get tipped above that.
ETA - I've heard people call it a tip, but it's not a gratuity. It's their professional fee.
Message edited 10/11/2007 11:13:38 AM.
|
| Posted 10/11/07 11:13 AM |
| |
|
TJLealand3
LIF Adolescent
Member since 6/07 839 total posts
Name:
Thomas
|
Re: Tip the title person at closing
It's 100.00, everyone pays it.
nuff said
|
| Posted 10/11/07 3:26 PM |
| |
|
Suzan
LIF Adolescent
Member since 5/06 754 total posts
Name:
|
Re: Tip the title person at closing
Posted by TJLealand3
It's 100.00, everyone pays it.
nuff said
not really "nuff said" because it is not just $100. people are paying different amounts.
|
| Posted 10/11/07 11:28 PM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Tip the title person at closing
Posted by Suzan
Posted by TJLealand3
It's 100.00, everyone pays it.
nuff said
not really "nuff said" because it is not just $100. people are paying different amounts.
B/c the closers have different fees.
Like I said, it's NOT a tip - it's the person's attendance fee. It's usually in the $100 - 200 range and SHOULD be part of your closing costs. Everyone pays it, but calling it a "tip" is a misnomer. Everyone pays different amounts in closing costs, title fees, etc. That's nothing new and this is not a scam.
|
| Posted 10/12/07 7:51 AM |
| |
|
Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
|
Re: Tip the title person at closing
We didnt tip anyone...that is their job, and they are getting paid to do it.
|
| Posted 10/12/07 8:47 AM |
| |
|
GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
|
Re: Tip the title person at closing
Posted by Kara
Posted by Suzan
Posted by TJLealand3
It's 100.00, everyone pays it.
nuff said
not really "nuff said" because it is not just $100. people are paying different amounts.
B/c the closers have different fees.
Like I said, it's NOT a tip - it's the person's attendance fee. It's usually in the $100 - 200 range and SHOULD be part of your closing costs. Everyone pays it, but calling it a "tip" is a misnomer. Everyone pays different amounts in closing costs, title fees, etc. That's nothing new and this is not a scam.
Didn't know that. We always heard the term "tip", and were wondering why they needed to get "tipped"  If it's a fee, that's fine, but people shouldn't be using the term "tip". That term implies an extra fee to reward someone that you think did an exceptional job. A fee means they are getting paid to do their job. I think the RE/title industry should push to get people to stop using the term "tip"....
|
| Posted 10/12/07 8:51 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Tip the title person at closing
Posted by GoldenRod
Posted by Kara
Posted by Suzan
Posted by TJLealand3
It's 100.00, everyone pays it.
nuff said
not really "nuff said" because it is not just $100. people are paying different amounts.
B/c the closers have different fees.
Like I said, it's NOT a tip - it's the person's attendance fee. It's usually in the $100 - 200 range and SHOULD be part of your closing costs. Everyone pays it, but calling it a "tip" is a misnomer. Everyone pays different amounts in closing costs, title fees, etc. That's nothing new and this is not a scam.
Didn't know that. We always heard the term "tip", and were wondering why they needed to get "tipped" If it's a fee, that's fine, but people shouldn't be using the term "tip". That term implies an extra fee to reward someone that you think did an exceptional job. A fee means they are getting paid to do their job. I think the RE/title industry should push to get people to stop using the term "tip"....
ITA. My attorney never, ever referred to it as a tip. It wasn't even an issue. It was just rolled into the other billion closing costs and the guy got $100 check from the bank attorney at closing. Really not a huge deal. I would, however, ask questions if I were required to tip in cash or something... and possibly call the title company myself to inquire about that. Just ask your attorney to explain it if you have questions.
|
| Posted 10/12/07 9:27 AM |
| |
|
bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
|
Re: Tip the title person at closing
i've heard of this and i know people do it, but i didn't. IMO, its not necessary.
|
| Posted 10/12/07 12:43 PM |
| |
|
