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strongisland
All you need is love
Member since 8/07 2474 total posts
Name:
T
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Re: tipping at closing?
JKlein:
are they responsible for getting the survey?
Message edited 10/22/2008 12:25:05 PM.
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Posted 10/22/08 12:18 PM  |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: tipping at closing?
Posted by jklein1323
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.
What is the typical pay scale for a closing, not including the tip? What is the range the title company pays a closer to prepare for a r/e closing?
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| Posted 10/22/08 12:22 PM |
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Aries14
Can't plan life...
Member since 8/08 2860 total posts
Name:
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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.
You also have to keep in mind that closers do NOT work everyday nor get 5 closing in a day. I do not know the salary but a girl that I went to college with (we had the same major so we were in a lot of classes together) was a closer and she said she is lucky to get 3 or 4 a week! It's not like they are doing closing after closing 5 days a week and getting tipped $100 a pop. Just to keep in mind.
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| Posted 10/22/08 12:34 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: tipping at closing?
Posted by jklein1323
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.
OK..that makes more sense. But don't they charge for their services? I mean I don't think they show up put of the kindness of their heart. So they must be getting paid by someone.
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| Posted 10/22/08 12:39 PM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: tipping at closing?
we NEVER tipped, and frankly, that is THEIR job.
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| Posted 10/22/08 12:41 PM |
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Sherwood
LIF Adult
Member since 8/08 1643 total posts
Name:
s
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Re: tipping at closing?
We gave the title closer $200
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| Posted 10/22/08 12:42 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: tipping at closing?
Based on Payscale.com, the average scale for a new closer is $36,423. Not a bad starting salary and above average for the average US salary. Now, add $20,800 to it in tips - based on 4 closing per week for one year, and you're at $57,223 annual salary with is a darn good salary.
I still don't see where tipping should come into play. I don't tip my mailman every time he drops off mail and he makes about that.
Message edited 10/22/2008 12:47:34 PM.
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| Posted 10/22/08 12:47 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: tipping at closing?
Posted by shamrock124
Based on Payscale.com, the average scale for a new closer is $36,423. Not a bad starting salary and above average for the average US salary. Now, add $20,800 to it in tips - based on 4 closing per week for one year, and you're at $57,223 annual salary with is a darn good salary.
I still don't see where tipping should come into play. I don't tip my mailman every time he drops off mail and he makes about that.
IMAGE
Based on this info I don't think a tip is necessary. They seem to be doing fine!
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| Posted 10/22/08 12:52 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: tipping at closing?
Posted by Lake0703
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.
You also have to keep in mind that closers do NOT work everyday nor get 5 closing in a day. I do not know the salary but a girl that I went to college with (we had the same major so we were in a lot of classes together) was a closer and she said she is lucky to get 3 or 4 a week! It's not like they are doing closing after closing 5 days a week and getting tipped $100 a pop. Just to keep in mind.
I know...it's crazy to think that a closer is doing 5 closings in a day...especially since a "quick" closing can last at least 2 hours.
and the title closer at my closing busted her asss. they are working with both sides and responsible for A LOT. and had to work with and coordinate 3 attorneys (mine, sellers, and banks)
I understand not wanting to go TIP CRAZY, but you tip where it is due.
considering the attorneys make anywhere from 600-700 fpr their work at the closing (I was told by MANY people that staff at the atts office actually does most of the up front work)
I don't think $100 bucks to the closer is excessive at all.
Message edited 10/22/2008 12:55:19 PM.
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| Posted 10/22/08 12:54 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: tipping at closing?
Posted by strongisland
JKlein:
are they responsible for getting the survey?
I believe they are responsible for ordering one and getting it to the bank.
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| Posted 10/22/08 12:55 PM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: tipping at closing?
I didn't tip them even though I was told we should. I don't think it was necessary at all.
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| Posted 10/22/08 1:05 PM |
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jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
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Re: tipping at closing?
Posted by Ophelia
Posted by strongisland
JKlein:
are they responsible for getting the survey?
I believe they are responsible for ordering one and getting it to the bank.
The title company is responsible not the title closer.
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| Posted 10/22/08 1:20 PM |
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jklein1323
LIF Adolescent
Member since 11/06 847 total posts
Name:
J
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Re: tipping at closing?
Posted by hotelcalie
Posted by shamrock124
Based on Payscale.com, the average scale for a new closer is $36,423. Not a bad starting salary and above average for the average US salary. Now, add $20,800 to it in tips - based on 4 closing per week for one year, and you're at $57,223 annual salary with is a darn good salary.
I still don't see where tipping should come into play. I don't tip my mailman every time he drops off mail and he makes about that.
IMAGE
Based on this info I don't think a tip is necessary. They seem to be doing fine!
Yeap you're all right..what do I know right I just work in the Title industry ..so I must be wrong 
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| Posted 10/22/08 1:29 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: tipping at closing?
I don't doubt some people feel it necessary to tip. I just don't get why they out of all the people should be tipped. I don't even know who this person is?? Should I be on contact with them? I just don't get it?? I am already paying over 15K at closing..so I just feel like enough. Also, if it weren't for this post I would never have thought of tipping anybody. When I bought my co-op I didn't tip anyone...
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| Posted 10/22/08 1:36 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: tipping at closing?
Posted by jklein1323
Posted by hotelcalie
Posted by shamrock124
Based on Payscale.com, the average scale for a new closer is $36,423. Not a bad starting salary and above average for the average US salary. Now, add $20,800 to it in tips - based on 4 closing per week for one year, and you're at $57,223 annual salary with is a darn good salary.
I still don't see where tipping should come into play. I don't tip my mailman every time he drops off mail and he makes about that.
IMAGE
Based on this info I don't think a tip is necessary. They seem to be doing fine!
Yeap you're all right..what do I know right I just work in the Title industry ..so I must be wrong
So tell me, where does tipping come into play? What about a closer's job should make tipping standard?
Waiters/Waitress average about $3-4 per hour. Even if they were making minimum wage of $6.55 for a 40 hour week that is $13,624 gross so I can see why tipping would be expected but I don't see why it's expected for a title closer.
Is the average of $36,423 for green closer completely inflated? Is that not a fair annual salary?
I don't work in the field so I am asking because I don't get it. So instead of at me, enlighten me.
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| Posted 10/22/08 1:39 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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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!
The title closer is not paid ANYTHING. She is paid when the seller and/or purchaser give her a gratuity. You are paying her for a service. It is very possible that you did provide the closer with a gratuity and don't even know it as it came out of your mortgage proceeds or your attorney told you to write a check to someone and you didn't even realize it.
It is VERY common to give a title closer a gratuity. It shoudl be done at every closing. It is more common that a seller will give the closer a grautity as they have a payoff that has to be handled by the title closer. As a real estate attorney I suggest that my purchasers give anywhere from $100 to $175 depending on whether the seller has a mortgage. It does not have to be cash it can be a check.
Message edited 10/22/2008 1:52:27 PM.
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| Posted 10/22/08 1:44 PM |
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csorisi
My 2 LOVES
Member since 11/05 1984 total posts
Name:
Corinne
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Re: tipping at closing?
Posted by hotelcalie
I don't doubt some people feel it necessary to tip. I just don't get why they out of all the people should be tipped. I don't even know who this person is?? Should I be on contact with them? I just don't get it?? I am already paying over 15K at closing..so I just feel like enough. Also, if it weren't for this post I would never have thought of tipping anybody. When I bought my co-op I didn't tip anyone...
At a co-op closing there is no title closer that is why you didn't have to tip the closer. Also any monies you pay in closing costs do not pay the title closer, therefore if you pay the title company $8000 in closing costs none of that is allocated to pay the title closer. I know alot of title closers and none of them get paid anything so I am not sure where payscale is getting there information. In other parts of teh country they may but not in NY. Also I am not sure if the payscale.com calculations is just based on an average of tips that a closer gets and not a base salary.
Message edited 10/22/2008 1:50:13 PM.
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| Posted 10/22/08 1:49 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: tipping at closing?
Posted by csorisi
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!
The title closer is not paid ANYTHING. She is paid when the seller and/or purchaser give her a gratuity. It is not a tip. You are paying her for a service. It is very possible that you did provide the closer with a gratuity and don't even know it as it came out of your mortgage proceeds or your attorney told you to write a check to someone and you didn't even realize it.
It is VERY common to give a title closer a gratuity. It shoudl be done at every closing. It is more common that a seller will give the closer a grautity as they have a payoff that has to be handled by the title closer. As a real estate attorney I suggest that my purchasers give anywhere from $100 to $175 depending on whether the seller has a mortgage. It does not have to be cash it can be a check.
Thank you. That makes sense to me.
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| Posted 10/22/08 1:50 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: tipping at closing?
OK...so they do not get paid..That seems crazy! Why would you go to a closing in the hopes to get a tip!! Why would someone take on a job like this? Seems crazy! So do I ask my mortgage broker if I need to tip title person or my RE lawyer if they already included it in someway?
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| Posted 10/22/08 2:18 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: tipping at closing?
Posted by hotelcalie
OK...so they do not get paid..That seems crazy! Why would you go to a closing in the hopes to get a tip!! Why would someone take on a job like this? Seems crazy! So do I ask my mortgage broker if I need to tip title person or my RE lawyer if they already included it in someway?
ask your mortgage broker- most companies my husband has worked for- include in the closing cost
you don't tip the lawyer
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| Posted 10/22/08 2:25 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: tipping at closing?
Posted by Beth1210
Posted by hotelcalie
OK...so they do not get paid..That seems crazy! Why would you go to a closing in the hopes to get a tip!! Why would someone take on a job like this? Seems crazy! So do I ask my mortgage broker if I need to tip title person or my RE lawyer if they already included it in someway?
ask your mortgage broker- most companies my husband has worked for- include in the closing cost
you don't tip the lawyer
Thanks! I hope my broker already included it!
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| Posted 10/22/08 2:35 PM |
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Eireann
Two ladies and a gentleman!
Member since 5/05 12165 total posts
Name:
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Re: tipping at closing?
Closers do NOT make a salary--I'm not sure what that pay scale is all about. They get a nominal fee from the title company--which is about $40 maybe. 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...
I cannot imagine any realm in which one would be attending 25 closings a week. Three closings in a day would be insane. I would think if one was strictly a closer, 2 might be average, but not every day necessarily.
Most people tip. My DH was a title closer for many years, he now owns a title company; his brother owns a title company; he is also an attorney. He has been practicing law for over 10 years now and in all that time, he estimates *maybe* 5 people refused to "tip" the closer. I suspect some people are doing it without even realizing it.
I hate whenever this topic comes up--so many people have such a chip about it; meanwhile, no one would ever imagine stiffing a waiter. 
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| Posted 10/22/08 3:19 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: tipping at closing?
Posted by Eireann
Closers do NOT make a salary--I'm not sure what that pay scale is all about. They get a nominal fee from the title company--which is about $40 maybe. 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...
I cannot imagine any realm in which one would be attending 25 closings a week. Three closings in a day would be insane. I would think if one was strictly a closer, 2 might be average, but not every day necessarily.
Most people tip. My DH was a title closer for many years, he now owns a title company; his brother owns a title company; he is also an attorney. He has been practicing law for over 10 years now and in all that time, he estimates *maybe* 5 people refused to "tip" the closer. I suspect some people are doing it without even realizing it.
I hate whenever this topic comes up--so many people have such a chip about it; meanwhile, no one would ever imagine stiffing a waiter.
Until til this post, I had no idea that closers didn't receive a salary.
I was not told to tip at closing so I am hoping that it was included.
I think the term "tip" is misleading and should really be stated as a fee so not to be confused with something that is optional.
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| Posted 10/22/08 3:25 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: tipping at closing?
Posted by shamrock124
Until til this post, I had no idea that closers didn't receive a salary.
I was not told to tip at closing so I am hoping that it was included.
I think the term "tip" is misleading and should really be stated as a fee so not to be confused with something that is optional.
I agree 100%
it would say on the HUD statement what the fee to the title closer was/is
my husband showed me when I went to a closing with him- and then this question came up again
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| Posted 10/22/08 3:27 PM |
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Eireann
Two ladies and a gentleman!
Member since 5/05 12165 total posts
Name:
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Re: tipping at closing?
Posted by shamrock124
Until til this post, I had no idea that closers didn't receive a salary.
I was not told to tip at closing so I am hoping that it was included.
I think the term "tip" is misleading and should really be stated as a fee so not to be confused with something that is optional.
I think you're right about that. That's kind of why I put "tip" in quotes--I guess it does sound insane to tip someone at a closing with all of the other money changing hands. 
I think many closers call it an "attendance fee" so that the clients don't balk over "tipping."
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| Posted 10/22/08 3:32 PM |
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