Notaries Beware:
Please review this price list I found from a title company offering closing services. They have listed a notary fee of $150 without a notary's concurrence. I have a big problem with outside agencies establishing my fees for my business.
No other professions allow third parties to establish their fees like notaries. In California if a signing require 6 documents in the package to be notarized by 2 parties and your minimum travel charge is $50, the total cost would be $170. $20 may not sound like much but multiply it by the number of signings you performed last year.
However, this company has set a fee below your minimum fee. Attorneys, accountants, plumbers, real estate agents, loan officers and no other group of professionals, who approve of another party setting the fee they charge.
Why do notaries bite the bullet? I hope this is a wake-up call for notaries to see how they are being victimized and refuse to accept assignments in the dark without regards for the profitability of the assignment.
If a company don't control its own pricing, it can't control it profits. I would hope this real example point out what we at www.needAnotary.net have been preaching for over 5 years. To operate a mobile notary business, you need to price your services and not have fees dictated to you by others.
I know individual notaries will do as they damm well please, but I hope they understand the consequences of their actions and how it effect the market rate for fees and the impact of their decision on the industry as a whole.
For many years, accountants and attorneys were prohibited from advertising fees Jacoby & Meyers broke the mold and started advertising fees. Since then fees for all (except the high-end) lawyers have decreased. Most states have mandates on notary fees and many notaries are charging fees well below the state's mandate and not being profitable.
Buyer Closing Rates
|
Closing Fee |
$250.00 |
|
Examination Fee |
$145.00 |
|
Plat Drawing (estimate) |
$55.00 |
|
Name Search |
$25.00 |
|
Document Retention Fee |
$20.00 |
|
Package Handling / Courier Fee (per package) |
$25.00 |
|
Recording Service (per document) |
$25.00 |
|
Title Search |
*$165.00 |
|
Assessment Search |
*$35.00 |
|
* Typically Paid for by Seller |
|
Seller Closing Rates
|
Closing Fee |
$275.00 |
Refinance Closing Rates
|
Closing Fee |
$195.00 |
|
Examination Fee |
$145.00 |
|
Abstract / Title Search |
$165.00 |
|
Name Search |
$25.00 |
|
Assessment Search |
$35.00 |
|
Document Retention Fee |
$20.00 |
|
Package Handling / Courier Fee (per package) |
$25.00 |
|
Recording Service (per document) |
$25.00 |
|
Plat Drawing (estimate) |
**$55.00 |
|
** If Applicable |
|
Mobile Closing
|
Mobile Closing Fee |
$150.00 |
|
(Avalible for Purchase / Refinance) |
|
Government Fees
|
Recording Fee (per document) |
$46.00 |
|
Mortgage Registration Tax (Buyer/Refinance only) |
$2.30/1,000 |
|
State Deed Tax (Seller only) |
$3.30/1,000 |
|
Conservation Fee |
$5.00 |
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