I have used both ITI Direct Mail and RocketPrint - they are both good providers. If you are doing small volumes and don't want to pre-pay for a block of printing (i.e. 5,000 pieces min. prepay) - then go with ITI. If you want a bit better pricing and really amazing customer (not that ITI's is bad - it's not) and don't mind purchasing the printing in bulk (e.g. 5k to 60k pieces ahead of time - you can use it in smaller subsets of mailings; e.g. 500+ a a time) . I am now using RocketPrint as I have sent roughly 1k letter per week this year.
How to handle the transfer of funds when self-closing
Jim - yep, Karl's got it right.
Also, I wouldn't say you're overthinking it. This is one of the more delicate steps in the closing process, and even with a mobile notary, it takes a bit of explaining and intentionality to make sure everyone has the right instructions and does everything right. It's definitely achievable... but just to give you credit, it's an important step, and worth spending the time to make sure it's done right!
Below is the actual instructions template I used a couple weeks ago for a self-closing purchase facilitated by a mobile notary in the DFW area. When I reach out to a mobile notary to engage their services I will include a draft of this in my e-mail asking if they can provide the services, and at what cost, so they see exactly what I am asking them to do. i typically send the docs to the notary in a USPS Flat Rate Priority Mail Envelope (w/tracking # affixed) and include a postage paid USPS Flat Rate Priority Mail Envelope (w/tracking # affixed) addressed to me for the return of the documents so I can track them both ways - adds about $15 total to my costs.
Seller Primary Contact:
Documents requiring action are in “Action Needed” folder. Copies for the Seller, which require no
action, are in the “Copies” folder. Please contact the Seller and arrange a mutually agreeable place and to complete the services within the next [xx] days.
Send items #1, #2, and a receipt for your services back to me.
Documents for Action:
1. Deed - Have BOTH Sellers date and sign where indicated on the deed. Complete the Notary/Acknowledgement section and notarize. A copy for each Seller is in the ‘Copies” folder. Sellers do not need to sign their copy. If either or both of the Sellers is unable, or unwilling, to sign and have the Deed notarized - do not give the Sellers the Cashier’s Check from #3, below. Instead tell Sellers you cannot complete the transaction at this time. Retain all documents and call me when convenient. I will pay for the unsuccessful attempt. And I will pay you again if I am able to resolve and reschedule with Sellers.
2. Receipt and Tax Reporting Acknowledgment - Have BOTH Sellers date and sign where indicated. Do not notarized it. A copy for each Seller is in the ‘Copies” folder. Sellers do not need to sign their copy.
3. Cashier's check payable to Sellers - Give to Sellers only after BOTH Sellers complete steps #1 and #2 above.
4. Check for $XX for your services - For you to keep.
5. Postage-paid envelope to return items #1, #2, AND a receipt for your services to me.
(Your Name Hear)
(Your phone / text # here so notary doesn't have to look for it if they have any questions / issues)
(Your e-mail here)
Thanks, I’m gonna use that template as a guide.
Karl James Wow this is a great template, and I was wondered how the money/signature transactions occur without meeting in person. Thanks for sharing!
Karl James Have you emailed documents back and forth?
also, what is the receipt and Tax reporting acknowledgment? I'm closing on my first property tomorrow and I haven't seen anyone mention that. Ugh..I can't believe I actually paid someone to walk me through my first deal and I'm getting this basic info from the forum. I should have paid you!!! Lesson learned! This forum is a lifesaver. Thank you so much!
Give this REtipster article a read:
Particularly the section titled: Here’s the bad news
The tac reportage acknowledgement is a statement I have the seller sign acknowledging they agree to handle the IRS tax reporting of the transaction, so I don't have to do a 1099-S for a sale over $600.
Karl James DM me your e-mail address and I can send you a copy of the I one I use.
Karl James I can't DM you because you don't follow me. My email is on my profile! Thanks!!
Bootstrapbill Bill Tanner last edited by
Karl James Thank you again Karl!
Karl James I came across this post and would be very interested in a copy of your tax reportage acknowledgement, if you're wiling to share it. Also, thanks for sharing your notary instructions. You are a wealth of knowledge, Karl. You're a pillar of this community!