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Tom, can you tell me how much a title closer usually earns? I'd really like to know.
PayScale has their median salary around $36,000. No wonder they want a tip. Do one a day with $100 tip, that's another $25,000 or so of undeclared income.
Tom Moser: thank you for explaining this mystery to me which left me puzzled for well over a decade plus.
My attny asked me to bring $50 cash to the closing the two times I purchased property. Its not way overboard but it left me curious. Interesting some people here are asked to bring $150.
Although I am not in the habit of answering the questions of those who call me a liar and phony I guess I have to placate you or you'll go on with your stupid attacks.
If I recall, you asked how much a title closer makes. The answer is (wait for it) it varies. A previous poster quoted a median of $36,000. That sounds about right to me.
As you stated, it is NOT necessary to tip the title closer. It's also not necessary to tip your waitress, which, by your tone, I assume you also object to.
Last edited by nancy thereader; 12-26-2012 at 10:00 AM..
That's true. They also don't use buyer and seller lawyers almost anywhere else other then downstate New York. A lot of things are done differently here. As I stated earlier, I believe it would be much better if it was classified as what it actually is: a fee. I'm not defending the practice, I'm just trying to educate people. For this, I put up with vicious personal attacks. It surprises me that, as a moderator, you allow them.
I brought this question of the "title closer" to my neighbor who is an RE attorney. He told me even though I have not heard of the function they are present in some form at almost all RE closings on LI. It is very common for the buyer's attorney to explicitly ask the buyer to provide some sort of gratuity to the title closer or to list the "gratuity" on the list of costs provided to the buyer at closing as an "appearance fee". He also implied if the fee is not explicitly provided to the title closer by the buyer the buyer's attorney will provide it out of his fee - so one way or another the buyer will provide a gratuity to the title closer.
I brought this question of the "title closer" to my neighbor who is an RE attorney. He told me even though I have not heard of the function they are present in some form at almost all RE closings on LI. It is very common for the buyer's attorney to explicitly ask the buyer to provide some sort of gratuity to the title closer or to list the "gratuity" on the list of costs provided to the buyer at closing as an "appearance fee". He also implied if the fee is not explicitly provided to the title closer by the buyer the buyer's attorney will provide it out of his fee - so one way or another the buyer will provide a gratuity to the title closer.
Question is why do we have to tip someone already getting paid to do their job?
Waiters/waitresses dont count since their incomes are specfically based on performance.
Tipping a waitress is done all over the world. Tipping the title closer is something I have only heard of on Long Island.
tipping if not the norm all over the world. For example, in most restaurants in hong kong/china, tipping is NOT the norm. USA is the most out of control tipping culture that I am aware of.
I believe tipping the title closer extends to nyc as well. I could be wrong bc it happened to me with nyc closings.
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