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Angela V
California
40 Posts |
 Posted - 06/09/2014 : 3:20:51 PM
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Carla,
All California notaries don't get fees over $150, since as you pointed out, there are always people who are more desperate or needing experience that settle for less. Been there, done that. I don't blame anyone, notary or hiring party, for they each have their reasons. One might lack knowledge and the other may have to supervise more. Who knows.
Bottom line is you, as a self employed person, set your price to what you feel is reasonable and profitable. For you that is $85, for the original poster it is $190. For me, it depends. My basic pricing is listed on my website but not all jobs are the same. Some, like the one you mentioned in your post, would cost more than say, a simple purchase signing of 50 pages with 1 or 2 notaries. I receive all types of jobs and charge accordingly.
One important note, California notary fees are $10 per notarized signature which is more than many states. In addition, as a self employed business owner, we can set the base fees charged for travel and/or time according to what we feel it is worth. As with any business, it takes advertising and time to build it.
Hope this helps clear up your question and good luck.
Angela V
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Carla
Tennessee
53 Posts |
Posted - 05/12/2014 : 5:41:07 PM
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Just don't get why the California notaries get fees over $150? We all have to drive all over God's creation, print over 200 pages of "edocs"
Sit and talk to the borrower/client/ spend 1-2 hours per closing...then drive sometimes over 100 miles a day and the signing companies want to pay notaries in other states..$65 - $100 and that's it ..if you are lucky. The problem is...is that there is "always" a notary who will settle for less than nothing at all..especially in this market place, and don't you think for one minute that these companies don't know it..First American tells me "you are the first I called so I call someone else before I call you back (to accept my higher fee and they start at a measly $75!!!!)..Just read the HUDS..see what the title companies charge!!!! Our fees should be comparable with all other notaries in this great country of ours and I think we should stand together and not accept anything under $85...
Amen... |
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hayley0105
California
1 Posts |
Posted - 04/23/2014 : 12:28:05 PM
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I am in California sonoma county I would love a break down of how you list your cost for loan signings... one set of loan docs? two sets? reverse mortgages? and any extra fees you list
thanks!! I'm New to loan signing and have no clue where to start with the fees
Hayley E Hunt
After Hours Notary Public |
Edited by - hayley0105 on 04/23/2014 12:28:34 PM |
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hven
9 Posts |
Posted - 02/13/2012 : 1:42:55 PM
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quote:
Originally posted by mgadler
Always a great topic to discuss. There will always be notaries that ask what the title company will pay for loan docs as there will always be notaries that clearly establish their fees to title companies. There are cases to be made for each of these. It is up to each individual notary to establish her/his value for their work. Judging by the calls I get, it seems that there will always be people that will notarize documents for less than you do. Realize this will always be the case and that if you always responded to a lower price, you will drive yourself out of business. Whatever the value you determine for your notary time, it is important that you stick with it.
As I am sure we all have, I have been guilty of taking notary jobs for less than I should have, but that is how we learn. Interestingly, as another thread discussed and I completely validate, the low-ball jobs you take will account for the majority of the problems you encounter. This is part of the learning process that will result in you establishing your prices and holding to them firmly. And remember, you valuing your time shows will result in your clients valuing your time.
My 2 cents...
Melissa
San Diego Mobile Notary
Speaking of” low ball” offers has anyone else come across “Cash Call” lending institution? They offer no fee loans to the borrower and in turn offer an insulting $50-65 (for edocs) to the notary. I have gotten calls from a couple of signing companies who work with them and I will turn them down when I find out it is a “Cash Call” loan. There will inevitably be errors with the paperwork and are a headache to do even if you can talk them up to a respectable fee. Pac Doc Sign got me to agree to a job for edocs for $100. After having agreed to the job at 3pm I asked if docs were ready for a 6pm job they said they would arrive any minute. Well by 630 the borrower was extremely irritated as was I. they then come to find out that the there was only 11 pages and wanted to pay me less than agreed. I said that they could find another notary. I also asked them to not contact me again. If we take low ball offers it lowers the bar for everyone else. The adage “you get what you pay for” really applies to both Pac Doc Sign and “Cash Call”. I recommend staying away from them and valuing you time for more than what they are willing to pay. Just my two cents. |
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pjrager
Maryland
94 Posts |
Posted - 09/19/2011 : 2:59:48 PM
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| Here in MD signings will go for $150. I get alot of calls for $100 but it's really not worth the time and cost to take it at that fee. I sometimes agree to lower the fee to $135 and $125 and do not like myself for agreeing to lower my fee. Maryland has a higher cost of living and then, of course, there's the Title Insurance Producer License fees and CEUs, etc. |
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n/a
1 Posts |
Posted - 09/19/2011 : 10:59:06 AM
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| I live in Illinois and I don't know any company who is paying 190.00 for a closing. Most of the signing agencies here are paying 60.00 -100.00............and 100.00 if you are lucky. I had been in banking/lending for 18 years got laid off and started doing this but I am currently searching for another stream of income |
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bmarker
Vermont
11 Posts |
Posted - 08/18/2011 : 5:30:38 PM
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I'm happy to get $100, but have taken jobs lately for $75-$85.
BM |
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LindaH
Florida
1754 Posts |
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4891
Texas
13 Posts |
Posted - 08/15/2011 : 11:27:39 AM
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I get some calls for a fee of $50 - I turn them down. I tell them my fee is either $100 or $125 depends on driving time and type of signing. Also I would like some feedback on the small amount of signing. I have gone from about 12 per month to 2 per month. Is our business that slow. I am in San Antonio, Texas. ross2727@sbcglobal.net
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DianaNotary
California
171 Posts |
Posted - 02/17/2011 : 12:23:11 PM
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Some loans do required 10 signatures to be notarized; there are loans with just a few signatures requiring notarization. Yet, the time we spent at the signing table is anywhere between 1 hour to 3 hours (!!!) + Driving time, etc. And yes, we have extra expenses on printing, driving, etc.
So, $190 for a typical signing sounds perfectly reasonable to me. THE PROBLEM IS- WHO THE HELL PAYS THAT TO A NOTARY?
I always check what the signing company gets (if I am hired by one) by looking at the Estimated Statement. Most of the time, the Notary fee is $200. Borrowers see that as well and they damn make sure that you spend all your time with them to make up for $200.
Borrowers have no clue that in actuality we get $125 or $150 or even less.
In my opinion, we are underpaid. Maybe this could be a new discussion topic, but have you ever felt that we should invoice the clients or the title company for our notary services?
I think this is fair, providing that the maximum fees are published and set forth by the State.
http://www.DianaNotary.com |
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mgadler
California
10 Posts |
Posted - 02/13/2011 : 10:54:33 AM
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Always a great topic to discuss. There will always be notaries that ask what the title company will pay for loan docs as there will always be notaries that clearly establish their fees to title companies. There are cases to be made for each of these. It is up to each individual notary to establish her/his value for their work. Judging by the calls I get, it seems that there will always be people that will notarize documents for less than you do. Realize this will always be the case and that if you always responded to a lower price, you will drive yourself out of business. Whatever the value you determine for your notary time, it is important that you stick with it.
As I am sure we all have, I have been guilty of taking notary jobs for less than I should have, but that is how we learn. Interestingly, as another thread discussed and I completely validate, the low-ball jobs you take will account for the majority of the problems you encounter. This is part of the learning process that will result in you establishing your prices and holding to them firmly. And remember, you valuing your time shows will result in your clients valuing your time.
My 2 cents...
Melissa
San Diego Mobile Notary |
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lavergnemanuel
Alabama
5 Posts |
Posted - 08/15/2009 : 06:35:35 AM
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$190.00 per signing!!!!! You would not get very much business in south Alabama unless you were driving awful far for a fee like that. Maybe the cost of living in California is such that you have to charge that. You cannot say that you have to charge that in all areas. Each person has to make up their own mind about how much profit they need to make. Get a fair fee without gouging anyone and you will get business. You won't get business by trying to see how much you can charge.
Lavergne Manuel |
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LindaH
Florida
1754 Posts |
Posted - 06/19/2009 : 07:19:56 AM
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And good luck to all of you getting $190 for every closing you do - not gonna happen, especially in this economy...and all due respect to anyone who says it, but if you tell me you get $190 on each and every closing you do, I don't believe you...
Oh..and if you can't do a loan "for that cheap"??....you need to rethink your overhead and business expenses...
My opinion and my experience.
Linda
www.notarydepot.com/notary/lindah
http://www.notary.net/websites/LindaHubbell
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Edited by - LindaH on 06/19/2009 07:21:30 AM |
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n/a
California
3 Posts |
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vince
Kansas
324 Posts |
Posted - 04/27/2009 : 5:05:40 PM
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Suggesting a method for a helping a person to learn of their cost of doing business and using that information to establish a fee is reasonable. But, suggesting that all use a minimum price will lead to problems for the person doing so because it is seen as and in fact is "price fixing." Each notary needs to look very hard at what their overhead is and what a reasonable wage is above that. I do know of many California notaries that are charging $200 and up for a basic refi - with more added on for travel beyond a certain range, size of documents consideration, faxbacks and so on. That may not be a lot considering the cost of living in many of the areas in California. Folks may wish to put the word “fee” into this and other notary website’s search engine for much more information that could be useful to them. |
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12059
California
8 Posts |
Posted - 04/27/2009 : 4:45:26 PM
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In my experience notaries (mostly new ones) are taking loan signings for to low a fee (I'm in los angeles area). A typical loan signing with borrower and co-borrower, requires notarization of 10 signatures (and countless non-notarized signatures), and 2 oaths administered - that is $120 ($10 per signature and oath - max allowed by law in CA), just for the notarizations. Add in a $50 travel fee, and a $20 printing/copy fee, and the minimum that notaries should be charging for loan-signings is $190.
Considering, that notaries have unlimited liability for any mistakes, may have to make a 2nd trip, and are putting their safety at risk by going into a stranger's home, $190 is a bargain. So if a loan signing company calls you, say that your fee is $190 - don't ask them what the job pays (i.e. you let them know your fee is set and non-negotiable). Loan signings companies should be asking for higher fees from the title/escrow/lenders, and eventually they will get the picture is no one does loan signings for less than $190.
Accepting less than $190 for a loan signing makes it difficult for all notaries to get paid appropriately for notary jobs. |
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minimum loan signing fees
