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Mobile Signers Make House Calls for Sacramento Home Sellers
Many home sellers in Sacramento do not realize that mobile signers make house calls. A seller is not required to make the trip to the title company to sign closing escrow papers. The title company, more or less, can come to the seller. Darn right, I can hear some sellers saying. Yes, it’s true, this Sacramento real estate agent works with a lot of grumpy people but that’s OK. I make allowances for people older than me. Younger though, all bets are off. You whippersnappers, you hop on your segways and skedaddle over to the title company, and no whining.
Even my sellers of Sacramento short sales can get a mobile signer to come to them at no charge, providing the bank will allow the notary fee on the HUD. Yet, any seller can utilize a mobile signer. Other sellers, though, generally have to pay a little bit extra for the service. Almost all title companies charge some type of notary fee, although it is not much. Some do not charge a notary fee and consider it part of the transaction built into the escrow fee. However, when a person drives across town to meet a seller, there generally is an additional fee for that service, usually around $125.
I have a lucky seller signing closing docs next week on a short sale and the mobile signer is coming to her house, and the seller doesn’t have to pay anything out of pocket. This woman is in her 80s. The mobile signer fee is approved on the HUD by her short sale bank. We build that fee into our short sales, especially to accommodate older sellers who find it difficult or irritating to drive.
Moreover, very busy sellers love mobile signers as well. Not only will the mobile signer come to your house, but you can meet the notary at a Starbucks or your office or even at the local bowling alley, if that’s where you prefer. There is no reason to have to make the trek into the title company to close escrow, if that’s inconvenient. Ask your Sacramento real estate agent how you can get a mobile signer to make a house call. Twenty minutes to sign docs and you’re done.
Wells Fargo Returns Short Sale Fund Wires
A Wells Fargo short sale is generally a pretty efficient transaction. Its negotiators are well trained, perform specific duties and work within well defined parameters. It’s almost like you put people into a cubicle so small that they can’t move around enough to even raise their arms, and this prevents them from messing up too badly. Caged egg-laying chickens might have more room. In some ways, I bet Wells Fargo doesn’t like the fact that we are stuck with human beings at all in the work force, but what the hey. Yet, even with all of this efficiency, a local title company says it has been “inundated with returned fund wires from Wells Fargo.”
There is a glitch in the Wells Fargo short sale closing process. For some reason, lately the closing instructions on the final HUD conflict with the closing instructions in the final short sale approval letter. In less than 24 hours from closing a short sale, Wells Fargo last week began sending back the funds to title. The funds are returned in some cases because the Wells Fargo arm’s length affidavit is missing a notarized signature, but in other cases, Wells Fargo has supplied no reason at all.
It happened on two of my Sacramento short sales yesterday, among many others at the title company. A representative from Wells Fargo called me to request documents. She gave me 15 minutes to deliver the docs. Not only did my escrow officer stop what she was doing and email them, but my TC immediately uploaded the docs to Equator. One of the reasons I always answer my phone. You never know what kind of emergency can pop up in a short sale. We beat the 15-minute deadline but Wells Fargo still returned the wire.
What are the consequences of a returned wire? Hmmm, apart from egg on the face (sorry for the chicken joke), in many instances not much, depending on whether the short sale approval letter has expired or whether there is a per diem clause in the terms. As long as there is time left on the approval letter, apparently you’re OK. But if there isn’t, I imagine Wells Fargo would demand its due. That’s the sign of efficiency.
