Tip the Title Closer ?? Help
Started by brokersSTINK
over 15 years ago
Posts: 112
Member since: Apr 2007
Discussion about
Closing on condo this week, attorney sent me schedule of costs at closing, including a tip to the Title closer...was odd to me....typical? standard? when i spoke with her, she said it is. Thanks
retarded
Standard. Weird, admittedly, but that's what is done.
Yes, I was blind-sided by this custom at the end of the closing by my real estate attorney. While I was handing out all the checks, the attorney passes me a note that says to tip the title closer "$250-$300". I wrote another check for $275.
I felt like I was taken advantage of. I wonder what would have happened if I didn't tip - would some legal paper disappear?
is there not one person in this city who tho has earned income from a job expects a flipping tip? let the atty grease them.
I don't know how it became "customary", but I declined to tip the title closer, and there was no downside.
I think the very obvious prospect of "lost" paperwork subjects that industry to such scrutiny that no title closer who wants to stay licensed (which I assume they are ...?) and employed would dare do it.
Do title closers make so close to minimum wage that they require "tips"??
in the past, if you are buying a home an a smooth transaction, typically they would receive a tip of about $100, however, i do not think it is necessary since they are already receiving a fee, look at your HUD and the title fees. NY is probably the most expensive state in the country for a closing. He makes a lot of money for a couple of hours. I would not tip.
the person goes to 2 closings a day, gets paid and then gets $500-600 tip, sign me up...
Title insurance sucks and tipping the title person sucks more.
why not tip the attorney, the secretary, the receptionist, etc..it sounds crazy..the lawyer must be splitting it with hm/her if he sugessted it.
It's annoying, but my understanding is that the tips really are most of their income -- they don't work for the title company (they're hire just per-gig for closes) and don't get any fraction of the giant title checks you're coughing up. And they really do a fair bit of work; our closer was the most on-top-of-it person at our close. We tipped $150. Amid the other $23,000 we were already horking up for a condo close, it felt minor.
Very NYC. I only rent here in Manhattan, so I don't have the closing experience under my belt. But in the 15 or so closings I've had in the NY suburbs, Florida and Massachusetts this "tip" never came up.
I'm seeing lots of different numbers thrown out above -- $100, $300, etc. Does the "tip" depend on the value of the property, the amount of work done by the title closer, etc.? What is the minimum so that steam doesn't come out of somebody's ears?
(Speaking of which, more NY-centric -- I've always felt that leaving a $0 tip for a $40 meal was saying nothing more than "I'm not from here" or "I forgot." Leaving a $0.50 tip for a $40 meal meant "service was atrocious.")
"And they really do a fair bit of work; our closer was the most on-top-of-it person at our close."
I don't disagree but you have to ask, which one of the people that you are paying 10's of thousands to should make sure the close goes off without a hitch? Does someone have the job to orchestrate the whole ordeal? Why am I giving the "title" person a tip when they are not affiliated with anyone that I am already paying? The entire closing process in NY is a three ring circus.
Agree with Kiz, its s small amount and they dont make a lot of money, it is part of the process so just suck it up--oherwise a document could go astray--totally not worth the downside