Posted by Anonymous on 7/9/05 3:26am
Msg #50727

New Notary

As a new notary what would be standard fee to charge for e-docs, fax back of doc and copies of docs?? Any help would be gr8tly appreciated

Reply by LawrenceOK on 7/9/05 9:13am
Msg #50739

Only you can decide that. Post your name and state, and you might just get a little more help from the board.

Reply by Anonymous on 7/9/05 11:12am
Msg #50752

Actually its fairly simple. Take the amount of money you were promised to make as a signing notary by whoever convinced you to take up this lucrative business divide it up by the number of jobs you want to do in a year and voila, there is your fee per job.

Reply by Teddog_CO on 7/9/05 11:51am
Msg #50758

To responce-New Notary

You're just " pulling my leg" "money you were promised you would make as a Notary" right!
If this GIG was that great we would retire!! LOL I say "keep your day job" do Notary as a part-time thing.

Reply by Anonymous on 7/9/05 12:03pm
Msg #50760

Re: To responce-New Notary

You mean to tell me that you're not making the $100,000 a year that was advertised????? I am shocked! I thought it was a foregone conclusion that all you had to do was become a notary and the money would just keep pouring in!

Reply by NY_TaxLady on 7/9/05 12:23pm
Msg #50762

Re: To responce-New Notary

Why don't you all help a newbie. I don't do this full time so my interest is not the same. I have taken some $50.00 signings and was OK with it because that is what they pay.It takes me 30 minuetes and it is $50.00 in my pocket. It wouldn't it be nice if the gov't set our fees. Then we would have to ask a question.

Reply by Goldie_CA on 7/9/05 1:57pm
Msg #50766

Re: To responce-New Notary

Not only should you keep your day job but you might want to take on another part time job so you can afford the gasoline to be "mobile" =)

Reply by NY_TaxLady on 7/9/05 12:51pm
Msg #50764

Probably 150-200 dollars

Reply by MsRobboPA on 7/9/05 2:11pm
Msg #50768

I feel sorry for you newbies. Always getting picked on. Unless you do this full time and work hard to get the signings you should keep your full time job. It takes time to for SS and TC's to find out if your good enough and where your located in the US. I only do this part time and keep myself pretty busy. Most SS and TC's tell you what they are willing to pay. If it is not enough, you should ask for more. Also consider the distance you are willing to drive especially with gas prices so high. Never take less than $75 for edocs cause it's not worth the aggravation!!! Good luck.

Reply by Notary4U on 7/9/05 4:17pm
Msg #50787

I hope you were saying .."never take less than $75 for edocs" was referring to a heloc only. I would NEVER take less and $100 for a refi and that HAS to be less than 10 miles each way with over-nighted docs. I don't do helocs for less than $75 unless they are overnighting docs and it's in my town only.

I don't understand what is wrong with the "sub"notaries taking the $50 jobs. ("sub" meaning below the notary PROFESSIONAL) You WILL NOT starve if you demand a higher fee. There is enough work out there to have everyone working. The ONLY reason you should go lower in your fees is if you area getting ALL that companies work and they are giving you VOLUME. It is absolutely crazy that you do all the work and aren't making a profit. Unless your printing docs at your day job and using someone elses paper so you have no cost, or your just taking the bus to the signings and not paying for gas, but otherwise you make very little...and it was be less stressful to work as a janitor where you don't have to worry if you'll make enough that month, or the stress of waiting and fighting to get docs BEFORE the closing time, or worring about doing all the work, getting there and having the borrowers decide NOT to sign and you don't get paid if it doesn't.

Janitor= solitude, job security, and peace
NSA=crazy people, bad hours, last minute everything, and nothings consistant (besides the low paying offers that your ruining for everyone by accepting them)

you choose...I in the industry because I work for title agenies 75-80% of the time and have been doing this awhile so my relationships have been built and they pay me my worth. I don't take much from signing services that are below $100...in fact, they call me when they are "hurting" and I tend to get $175+ from them. So don't think they wont pay it....they DO!

Reply by Wa notary on 7/9/05 6:01pm
Msg #50798

I do not see why some of you seem so "threatened" by a new notary, and hostile to the fact that they may have received info that they could create income with a "business of their own"! After all, that is what you did, correct? That is the American way! I am proud of anyone that has the guts to try something new, with or without support from this community at large!!! Someday, you may need their help. Godspeed to all!! Oh, and just perservere, the business will come, and look to the NNA guidelines for a starting price point. Some things, we just need to learn on our own.....

Reply by Notary4U on 7/9/05 11:23pm
Msg #50813

I"M NOT SAYING DON"T BECOME A NSA...I'm just saying

that if you do, don't take $50 signings, new or not. THAT is what's hurting the industry. And I'm saying that if you're thinking that it's the next best thing since sliced bread and you're going to get rich doing it....that's nor realistic either. You can make a living doing it, but not to suppose an entire family. You might support yourself but you will work FT+. I don't think that it's for everyone...and if you can't budget or save money, don't do this. It's about the same as real estate...there were 108 agents in my class when I was getting my license 12 yrs ago and they told us after 1 yr that maybe 2 of us would still being doing real estate...mainly because you think it will be easy and no work and you can't budget when you don't get checks every week, month, or couple months. If you don't have a nest egg to help you through the start up then I would wait until you do, and in that time read every single thing you can about the business and know every document front and back and then you'll be ready.

It's the only responsible thing to do since you have someone else's "life" in your hands when your notarizing their loan package. And I mean that in the sense that you have no idea if they are going to lose their house on Monday if they don't get this package done correctly and back to fund so they can pay off the previous loan they had because their borderline foreclosure. You mess up and they might not get the money in time to keep the previous bank from starting foreclosure and then they wont get the money from the new lender when they find out. That's if they were lucky not to have had their previous bank report to the credit agnecies ( I have had this senerio in a very rural town and the local bank doesn't report to credit agencies for anything...farm towns). Anyway, you have to think of it that way...you have a serious roll in teh process and it's your responsibility to get it done the way you should and how you'd want it taken care of if it were your loan.

jmho

Reply by Anonymous on 7/10/05 3:36am
Msg #50823

Thank you very much

Reply by CaliNotary on 7/9/05 5:13pm
Msg #50794

"Probably 150-200 dollars"

Yeah, this is the correct answer. All of you newbies should set your minimum fee at $150. If you're NNA certified you can easily get $200 per signing.

Reply by Nicole_NCali on 7/10/05 12:48am
Msg #50816

Re: Do some careful calculation

I am a part-time newbie and I set my price according along the aggravation factor. If is is a huge package with confused borrowers and the lender/ss consistantly operate the same way, I charge a huge amount. If it is a easy package, good organized ss, I charge enough that I am not making less than 15.00/hr after expenses.

I am not an expert by any measure of the word, but I do know money and I am deeply into micro-economics, "consider all of your out of pocket expenses and determine how much of a profit that you want"

Don't undercut your competition or cheapen the profession by accepting $40/46 assignments. Do consider your relative inexperience and that some of t hese packets may be a b..ch to get signed. Also consider that .5% of the borrowers are nuts, head cases, have filthy houses, snotty nosed kids, slobbering dogs, no furniture (that was doozy), forgot the Xanax , etc.. And when all is considered with being an "Independent Contractor", you let your wallet and your 20 in HMO psychological visits determine the bottom line.

Reply by Anonymous on 7/10/05 3:38am
Msg #50824

Re: Do some careful calculation

Thank you so much

Reply by Patrice_CA on 7/27/05 2:11pm
Msg #55115

Re: Do some careful calculation

Thank you for asking the question.

Reply by MichNotary on 7/27/05 2:37pm
Msg #55120

Re: Do some careful calculation

Can't get $150-200 per closing in Michigan. At least, I haven't found anyone willing to pay that...