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Posted: 3/8/2010 5:11:32 AM EDT
I have an opportunity to get free education to become a Notary Public (still have to pay for registration) and I have been considering doing the Mobile Notary / Signing Agent thing as a way to make a little extra side money. Rates are typically $25 for witnessing signatures and $75 for loan documents around here....
I was wondering if anyone has ever done anything like that and what their experiences were...
Link Posted: 3/8/2010 5:13:35 AM EDT
Did it for a number of years before a couple of auto accidents fucked up my discs.  

If you like being out of an office and don't mind working late, go for it.
Link Posted: 3/8/2010 5:18:07 AM EDT
Those are crazy rates. Around here most people don't even charge for witnessing signatures.
Link Posted: 3/8/2010 5:19:01 AM EDT



Originally Posted By Ponyboy:


Those are crazy rates. Around here most people don't even charge for witnessing signatures.


Most banks do them for free, and other people I know who do it can only charge about $10



 
Link Posted: 3/8/2010 5:22:35 AM EDT
Originally Posted By VTHOKIESHOOTER:

Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.

Most banks do them for free, and other people I know who do it can only charge about $10
 


We get 30 - 40 things notarized a week, sometimes we'll just walk into a random office looking for a notary and they almost always do it for free. I don't have a problem paying for it but most just tell me not to worry about it.

Link Posted: 3/8/2010 5:23:47 AM EDT
[Last Edit: 3/8/2010 5:25:03 AM EDT by OhioLibertarian]
Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.


This is a mobile, 24/7 after hours service.

Edited to explain: it would mean I drive to their location on short notice, usually after hours or at night.
Link Posted: 3/8/2010 5:30:22 AM EDT
Originally Posted By OhioLibertarian:
Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.


This is a mobile, 24/7 after hours service.



I'm not trying to be a smartass, but why would anyone need after hours service? I can see it being needed on rare occasions but I wouldn't think enough to base a business on. Can't the vast majority of stuff just wait until normal business hours?

Link Posted: 3/8/2010 5:32:40 AM EDT
[Last Edit: 3/8/2010 5:32:57 AM EDT by cluster]
edit
Link Posted: 3/8/2010 5:34:13 AM EDT
Originally Posted By OhioLibertarian:
Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.


This is a mobile, 24/7 after hours service.

Edited to explain: it would mean I drive to their location on short notice, usually after hours or at night.



I would get a VERY solid understanding of just how often there is a requirement for an emergency Notary at night.  Most places that process loans (banks, mortgage companies) do it for free.  I never paid more than $1 to have it done at a walk-in Parcels Plus store that is open 12 hours a day.

I have a hard time picturing much of a demand.
Link Posted: 3/8/2010 5:35:28 AM EDT
Originally Posted By CWO:
Originally Posted By OhioLibertarian:
Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.


This is a mobile, 24/7 after hours service.

Edited to explain: it would mean I drive to their location on short notice, usually after hours or at night.



I would get a VERY solid understanding of just how often there is a requirement for an emergency Notary at night.  Most places that process loans (banks, mortgage companies) do it for free.  I never paid more than $1 to have it done at a walk-in Parcels Plus store that is open 12 hours a day.

I have a hard time picturing much of a demand.


That was my concern as well.....

Link Posted: 3/8/2010 5:40:00 AM EDT
Sounds like you will be working for a title agent closing mostly refinance loans. I have never done it but know plenty who have.
You will be working late nights towards the end of the month and be driving all the time.

Also, its not the person that is closing paying him this fee. The agent that contracts him to close the loan is actually paying it. It is cheaper for them to do this then employ a large staff and pay benefits.
Link Posted: 3/8/2010 7:48:33 AM EDT
Originally Posted By OhioLibertarian:
Originally Posted By CWO:
Originally Posted By OhioLibertarian:
Originally Posted By Ponyboy:
Those are crazy rates. Around here most people don't even charge for witnessing signatures.


This is a mobile, 24/7 after hours service.

Edited to explain: it would mean I drive to their location on short notice, usually after hours or at night.



I would get a VERY solid understanding of just how often there is a requirement for an emergency Notary at night.  Most places that process loans (banks, mortgage companies) do it for free.  I never paid more than $1 to have it done at a walk-in Parcels Plus store that is open 12 hours a day.

I have a hard time picturing much of a demand.


That was my concern as well.....



I've seen advertisements for mobile notaries before, but usually it's in conjunction with some other service (usually civil process service) and is only advertised as an add-on. I don't know that I've ever seen it as a service by itself.

Link Posted: 3/8/2010 7:56:12 AM EDT
Here's a list of the maximum a notary can charge.  I don't know if it's legal to charge travel fees?

Maximum Fees Allowed For Most Single-Page, Single-Signature Notarizations By State*

StateMaximum Fee
Alabama$1.50
AlaskaNo limit**
Arizona$2.00
Arkansas$5.00
California$10.00
Colorado$5.00
Connecticut$5.00
Delaware$5.00
District of Columbia$2.00
Florida$10.00
Georgia$2.00
Hawaii$5.00
Idaho$2.00
Illinois$1.00
Indiana$2.00
IowaNo limit**
KansasNo limit**
Kentucky$0.50
LouisianaNo limit**
MaineNo limit**
Maryland$2.00
MassachusettsVaries
Michigan$10.00
Minnesota$1.00
Mississippi$5.00
Missouri$2.00
Montana$5.00
Nebraska$5.00
Nevada$5.00
New Hampshire$10.00
New Jersey$2.50
New Mexico$5.00
New York$2.00
North Carolina$5.00
North Dakota$5.00
Ohio$1.50
Oklahoma$5.00
Oregon$5.00
Pennsylvania$5.00
Rhode Island$1.00
South Carolina$0.50
South Dakota$10.00
TennesseeVaries
Texas$6.00
Utah$5.00
VermontVaries
Virginia$5.00
Washington$10.00
West Virginia$2.00
Wisconsin$0.50
Wyoming$2.00
Link Posted: 3/8/2010 7:58:19 AM EDT
As a notary I have never charged a single cent.




Link Posted: 3/8/2010 8:03:13 AM EDT
Never paid for notary services in my life.  I would be hard-pressed to think why I would need one after normal hours.
Link Posted: 3/8/2010 8:03:59 AM EDT
Btw, it's kind of scary that you could simply order a notary stamp from Staples or Office Depot without actually being a notary.
Link Posted: 3/8/2010 8:05:20 AM EDT
It's not too bad.

You will, more likely then not, never get rich doing it but it is good for supplementary income.

I am a notary for work and have considered getting into the mobile loan closing side of it. A lady I know does it for her retirement income and doesn't seem to mind it. My biggest problem is the loan companies. Evidently it is a fucking circus when it comes to getting the docs to you. I know she is constantly down to the last minute waiting on them, printing them off, and getting everything in order.

At first you can't necessarily charge at the high end or decline or accept what you want. You kind of have to do everything (including getting that missing signature) whether you want to or not in order to build your reputation. After a while you can start being more discerning.
Link Posted: 3/8/2010 8:12:29 AM EDT
Being a title closing agent is different from just being a notary.  Notarizing signatures is only part of the closing agent's duties, the most important being preparing the HUD-1 closing statement.  As a mobile or "out-side" closer you can expect to spend an hour or so preparing the HUD, an hour at the actual closing and about an hour after the closing preparing / sending back the loan documents and preparing sending out disbursements.

As other's have stated, just being a simple notary probably isn't worth it as most of the time people have documents notarized for free or a nominal charge ($1 - $5).
Link Posted: 3/8/2010 8:28:03 AM EDT
Originally Posted By ScaryBlackGuns:
As a notary I have never charged a single cent.



+1 here

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