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 E-docs...worth it or not?
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crtowles

California
553 Posts

Posted - 05/16/2008 :  9:31:41 PM  Show Profile  Reply with Quote
Thank you Ken-I wish every notary thought like you!! It is all about what your time, expertise (not to mention operating costs) mean to you. Folks seem to forget that this is a business not a charity. We are in it to provide a valuable service and to make a little money.

Carmen
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edelske

New York
813 Posts

Posted - 05/16/2008 :  5:31:14 PM  Show Profile  Visit edelske's Homepage  Reply with Quote
quote:
Originally posted by dbarrett

Companies rely on you having E Docs, is 35.00 to much to charge for E docs, plus your basic fee.



I charge $50 additional for edoc - up to about 125 pages per set. I have to make an extra trip home to print them most of the time. Also there is usually more time spent on the cell phone asking for them and being sure that I have everything. It takes about an hour to print 2 sets, not counting the drive home to start the process. That fee also helps pay for printer maintenance, paper, toner, the DSL connection that downloads the docs, cell time, gasoline, and leaves a bit for me for my labor. Some Signing Services feel I should do the above for as low as 10$ or $25 - they say "it would be cheaper to ship the docs to me" - "fine, I say; please do so. Then it's their costs + shipping not mine.
One thing I have learned in several hundred edoc's. NEVER print prior to having a firm contact with the person(s) signing. Not many folks want to pay you for unsigned doc's. Sometimes they, due to "time issues" ask me to start print while they continue to try to get a better (the given one was a dud) contact number for the borrower. OK, I tell them (via email) - just confirm that you are willing to pay my $50 print fee if the docs and the borrower (no fault of mine) never manage to get together. It DOES work - I have several $50 check to show for it. My standard "prior to printing" requirements (yes, the Notary can have requirements too!) is for a "work order" with the agreeded upon dollar amount - and contact / confirmation of the appointment. I take the additional burden of processing edoc TO MAKE MORE MONEY - not as a "favor" to get the signing fee.

Ken



Ken
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edelske

New York
813 Posts

Posted - 03/09/2008 :  02:33:10 AM  Show Profile  Visit edelske's Homepage  Reply with Quote
LindaJ

I bought my HP 4100 on ebay from a professional HP tech, it had exactly 400 pages printed in its history, having sat on an executives desk more for show than anything else. I paid $400 about a year ago and INSISTED on ADDING an additional $50 for the tech to fully adjust everything. Best $450 I ever spent.
NO jams, no problems whatsoever - totally reliable. I keep the legal on the upper as the tech said the longer paper should have a shorter path - thus the printer will be a bit faster. Not sure as to his logic but I set it that way and never an issue.
ken
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LindaJ

Illinois
77 Posts

Posted - 01/18/2008 :  01:26:32 AM  Show Profile  Reply with Quote
I purchased a Re-furbished HP 4100 dual tray for $360. It has truly been a workhorse and have never had a problem with it. I purchased it from a dealer in the St. Louis area. So, sometimes new is not always best and the price is certainly cheaper. I've had my printer for over 2 years now and still going strong and paid 1/3 of the price you did. You get what you pay for doesn't always mean the same thing.
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AZSigner

Arizona
93 Posts

Posted - 01/17/2008 :  3:32:17 PM  Show Profile  Reply with Quote
E-docs are DEFINITELY worth it. Aside from the fact that e-doc signings are about 75% of my business (perhaps more), I prefer them because they allow me to accept last-minute signings earlier in the morning, later on in the evening, or anytime on weekends. This allows me to charge an additional fee for signings on weekends or at "odd hours" and I rarely have to haggle with the Signing/Title Co over the price when it's a last-minute signing. I also prefer them because I don't have to worry about the overnight courier being late and having to spend forever on hold if the package is late (or worse - missing). Lastly, the cost of printing e-docs with paper and toner factored in is only about 4 MAYBE 5 cents per page. Even if you only charge the standard $25 for 2 sets of loan docs with each set having 100 pages, your printing costs are roughly $10 (assuming 5 cents per page) so you still clear an extra $15.

If you have a very high-end quality laster printer, receiving e-docs should never be a problem. When I first started I paid $400 for a Dell printer (I forget the exact model) because it was cheap. Let's just say I got what I paid for. I had an unusual amount of paper jams and other malfunctions. Dell had to send me a new one only a month after purchasing it because the circuit board shorted. I still had problems with the replacement printer. Even though it was a dual-tray printer, I often had problems with web-based doc downloads - it would keep printing all the docs on letter-size paper even though the printer settings on my computer were programmed correctly to recognize both trays. Neither the lender's tech support nor Dell could explain why this would randomly happen.

After looking stupid to a few title companies/lenders and losing several jobs, I invested $1200 in a Hewlett Packard "HP Laser Jet 4250" model ($899 for the printer and $250 for the additional tray, plus tax and shipping). I got what I paid for. It was very easy to set up and attach the second tray. I've had it for over a year now with not so much as a minor paper jam, and whether the e-docs are in a PDF file or need to be downloaded using the lender's software, I've never had a single printing issue. It paid for itself in less than two months.

Dell printers are much cheaper, but they're very low-quality in my opinion. Hewlett Packard printers (HP) are better if you're able to invest the extra money.
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jbelmont

California
2991 Posts

Posted - 01/15/2008 :  1:13:58 PM  Show Profile  Visit jbelmont's Homepage  Reply with Quote
It seems that the price for e-docs should reflect the additional labor and pages. One notary correctly states that it is or could be an additional trip home which should be compensated for. If the job is dispatched and able to print the night before, then perhaps a lower fee would be in line. A few notaries keep a good printer and mobile internet in the car to download docs. I wouldn't be comfortable with that, but it makes sense.
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n/a

0 Posts

Posted - 01/15/2008 :  08:30:01 AM  Show Profile  Reply with Quote
Companies rely on you having E Docs, is 35.00 to much to charge for E docs, plus your basic fee.
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n/a

114 Posts

Posted - 01/08/2008 :  10:56:48 AM  Show Profile  Visit n/a's Homepage  Reply with Quote
E-docs are the standard in the industry. And, yes, worth it!

Burton F.
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LindaH

Florida
1754 Posts

Posted - 11/19/2007 :  02:36:17 AM  Show Profile  Reply with Quote
quote:
Originally posted by profnot

Edocs and overnight docs are not our only options as NSAs.

My LOs love me. I tell them I will only pick up printed docs from a TC a few miles from me at 10am or earlier. My LOs tell the TC what to do.

No waiting for late eDocs. No nail biting hoping FedEx/UPS/DHL will come in time.

My approach is VERY low tech. VERY 80s. I love it.

My devoted LOs just want the darn loan signed without drama.



I respectfully disagree with this practice...most of the time I find the LO's have no idea how docs should be drawn (not their area of expertise, if you will) - half of them can't even explain why the HUD says what it does, so they surely can't tell the TC what to do...what kind of quality control do you have in place to ensure that the copies have printed correctly and the TC is providing you with adequate copies? And what do you do if you get there and the docs are late, which we all know happens. How do you get around one TC sending docs to another TC near you? Or is that your way of directing business to your local TC?

I can assume from your post you do not take last-minute signings - oh for the day I can afford that luxury. The way I read your post, if you have a 4:00 pm signing, you tell them they must have the docs delivered for printing and pickup by 10:00 am? And if you get a call at 2:00 pm for that evening you can't do it? Interesting..

I also feel this practice adds an unnecessary set of hands to the mix and increases the chance of error (not to mention the privacy issues). Example: XX Signing Service calls and schedules signing for ABC lender through DEF TC - you now want them to send docs to FHI title for printing....too many hands in the pot. That practice would probably cost me a boatload of business in a heartbeat. That's just as bad as "send it to Kinkos for printing". Personally, I'd prefer to print myself - at least I know what title or SS has assigned to me is handled the way they want, proper copies are delivered as required, I have a chance to review the docs ahead of time, and the borrowers private information is protected.

All JMHO..but it works for me.


Linda
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profnot

41 Posts

Posted - 11/18/2007 :  12:21:44 PM  Show Profile  Visit profnot's Homepage  Reply with Quote
Edocs and overnight docs are not our only options as NSAs.

My LOs love me. I tell them I will only pick up printed docs from a TC a few miles from me at 10am or earlier. My LOs tell the TC what to do.

No waiting for late eDocs. No nail biting hoping FedEx/UPS/DHL will come in time.

My approach is VERY low tech. VERY 80s. I love it.

My devoted LOs just want the darn loan signed without drama.
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marwells

Virginia
26 Posts

Posted - 10/08/2007 :  07:13:31 AM  Show Profile  Visit marwells's Homepage  Reply with Quote
In my experience, edocs are essential. The cost factor is one thing (standard is only paying $25--and two sets can run over 200 pages), but it is 95% of my business. Unfortunately, because of edocs the companies will really wait until the 11th (sometimes 12th or 13th) hour to prepare the docs. That's where the stress comes in. I have sometimes had docs sent to Fedex Kinko's when my schedule it too tight to run home for printing (they will print 2 sets for about $20 and you can't beat that). That option has allowed me to take some signings that I wouldn't have been able to work in otherwise. LOL
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n/a

Michigan
2 Posts

Posted - 08/09/2007 :  12:54:47 AM  Show Profile  Reply with Quote
I just started and only have had 2 overnights yet (3 mo). I have put an excel spreedsheet together with the cost of per page printing as well as mpg for each client. So far, the E-Docs are way more lucrative than overnights. I charge double what the original post noted (minimum of 95.00) and have a rush fee of 45 with lesss than 2 hours before closing. I haven't lost a job yet due to this, but have lost overnight jobs when asking 65 per doc. I know that these were signing company's trying to get a greater share of the pot. Only wanting to pay 40 for traveling over 20 miles out. Not worth it. Since the cost of business is deducted at tax time, I feel that purchasing a low cost laser printer is well worth it. I have a Kyocera, bought used on EBay. It works great.

SLC
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edelske

New York
813 Posts

Posted - 08/01/2007 :  07:35:45 AM  Show Profile  Visit edelske's Homepage  Reply with Quote
I do edoc - done hundreds of them. I charge 50 dollars for 2 sets of edoc up to 150 pages. Many ask why so much? Well, aside from the obvious - edoc involves an extra TRIP home to print the docs - I dont wait at home for the docs as my business keeps me going. I have been offered as little as 15$ (far less than the FedEx fee) to print the docs and hold the line at 50. Even if it is "just" 40 pages. The time in traffic is much more important to me than the "print time". And let us not forget the time phoning and hearing of the "computer problem" in generating the HUD! I NEVER print a single page untill I have ALL the pages AND a firm appointment with the borrower - updated when the final doc arrives to allow my standard "hour to print and hour to get there" - I may do fewer jobs - but the blood pressure stays low - that seems more important to me than landing "mission impossible" situations.....
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joanbergst

California
360 Posts

Posted - 05/10/2007 :  3:56:31 PM  Show Profile  Visit joanbergst's Homepage  Reply with Quote
I had forgotten that what Linda H said about the stress of waiting for docs to arrive at our front door step.

In my opinion there is no comparison between waiting for edocs and waiting for the FedEx/UPS people to arrive.

Edocs are so much more stressful!
I had a situation with a company that hired me last week and sent the email docs the same day (how often does that happen?)

I called the company 2 hrs before the signing today to see when I could expect the edocs to arrive in my email address and she pointed out they were sent on May 4th.
I apologized and said I hadn't had email docs sent 1 week ahead of time in 2 years and we both laughed.


Joan Bergstrom
24/7 To Riverside & San Bernardino Counties
Over 3500 Loan Signings
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919
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crtowles

California
553 Posts

Posted - 05/10/2007 :  09:20:07 AM  Show Profile  Reply with Quote
Edos's can be a hassle but this can minimized if you have the neceassary equipment. For example, a proper laser jet printer with the proper software installed on your computer. Plenty of paper and a few extra toner cartridges (or the do it yourself toner kits). Currently I have two printers so if I get a paper jam and can't clear it right away I can just use the other printer. When I firat started edoc's use to give me a headache but the companies that I work for now value me and my time so I get the doc's when they say I am going to get them. This makes it almost a painless task.

I don't really think at this time a person can make any money if they don't take e docs. JMHO.

Good Luck with whatever you decide to do Jane Ellis!



~Carmen
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LindaH

Florida
1754 Posts

Posted - 05/10/2007 :  07:33:15 AM  Show Profile  Reply with Quote
Even if you don't want to accept e-docs as a matter of course and can keep your business running taking overnight docs only, you'll need to be set up for (and familiar with) e-docs to accommodate those last minute emergencies where the overnight docs didn't hit the courier in time and the loan absolutely, positively MUST close tonight.

Personally, I'd rather take e-docs than sit and wait for the delivery guy - who may not show til 4:00. MHO

Linda
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dfye@mcttelecom.com

New Hampshire
681 Posts

Posted - 05/10/2007 :  03:06:58 AM  Show Profile  Visit dfye@mcttelecom.com's Homepage  Reply with Quote
E-docs is definitely the way to go if you want to continue receiving orders. Most of my signings are edocs. I have been in the business for eleven years and have seen an increase in edocs in the past two years. Use discretion when it comes to the fee. Many companies like to try "to pull the wool over your eyes."

Legal Eagle Para Professional Services
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Shannon

California
360 Posts

Posted - 05/08/2007 :  5:04:37 PM  Show Profile  Visit Shannon's Homepage  Reply with Quote
Consider delivered docs as icing on the cake, but, I'm with Joan...you gotta do edocs.... I'd be ok if you don't...especially if you are in my neck of the woods....I'll take all the edoc work you don't want ;~)
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joanbergst

California
360 Posts

Posted - 05/08/2007 :  09:51:50 AM  Show Profile  Visit joanbergst's Homepage  Reply with Quote
You won't be successful in this business without accepting edocs. 95% of my business is edoc delivered. I'm with the last post that it would be wonderful if the docs came to our office, via FedEx & UPS.

I'm afraid those days are over!

Joan Bergstrom
24/7 To Riverside & San Bernardino Counties
Over 3500 Loan Signings
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919

Edited by - joanbergst on 05/08/2007 09:52:21 AM
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NJoseph

New York
3 Posts

Posted - 05/08/2007 :  09:06:14 AM  Show Profile  Visit NJoseph's Homepage  Reply with Quote
E-doc issues can be contentious; as a full time Signing Agent for 3.5 years I would gladly forfeit the $25 to print files as tradeoff to receiving docs by courier delivery. However, I would say that doing this would cut my business a good 75%. So it is that I've grown accustomed to "flexing" my schedule as needed to accommodate those fun times where documents are not emailed to me until 15 minutes before the closing that is to take place 45 minutes from my office. By all means, if one can afford to avoid the road most traveled by harried notaries who accept e-docs - do it! Assuredly, you will be less stressed.
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n/a

Virginia
1 Posts

Posted - 05/08/2007 :  08:15:58 AM  Show Profile  Reply with Quote
Did you receive NO replies to this? Recently I have been turning down a lot of e-docs jobs because I got scared off by a disaster signing which I had to put out $25.00 of my own money and have yet to get paid (a month and a half later). I work a full time job in addition to doing signings in my rural area and just don't have the time to spend hours agonizing over printing e-docs. I guess I'm in the dark ages too.
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lompocjoe

California
8 Posts

Posted - 01/09/2007 :  3:03:50 PM  Show Profile  Visit lompocjoe's Homepage  Reply with Quote
I know there are probably eight notaries in all of the U.S. who do not accept e-mail docs, but I still resist the temptation to go beyond good old-fashioned courier delivery. Am I being too much of a Luddite? The number of copies that have to be made (including the clients copy) is often half a ream of paper. Many companies send out their docs at the last minute, and woe betide a notary who gets a paper jam after the office is closed. Finally, is it really cheaper to use a courier service (paid by the company) than it is to purchase a machine, ink, and paper (paid by us)? I'm prepared for the avalanche of "If-I-didn't-accept-e-mail-docs-I'd-be-out-of-business" and "Welcome-to-the-21st-century" replies.
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