Posted by CalGal on 7/30/05 12:28pm
Msg #55899

Notary Fee

What is a reasonable fee for signing a loan package and 50 miles (round trip)?

Reply by kynotary on 7/30/05 12:34pm
Msg #55902

I figure a $100 minimum, then $25 for edocs, then milage around $.50 per mile, considering the distance as a whole, distance both ways that is. But it also depends on the loan package. Is it HELOC's, 1st mtg, 2nd mtg, both a 1st & 2nd, both a 1st and HELOC's.

Do some studying here so you can learn more about how to charge, or you will be working for nothing, like so many others I read about here and why work for nothing, unless you just like to work as a hobby anyway?

Good luck with your signing CalGal!!!

Reply by CalGal on 7/30/05 12:46pm
Msg #55906

The signing was buyer docs thru a mortgage company and had to wait 1 1/2 hours for the docs to be delivered. How much would you have charged then?

Reply by kynotary on 7/30/05 1:07pm
Msg #55913

I am interested to see what others may post to this question, as this is somewhat arbitrary and depends on how you would go about valuing your time. I have never had this happen to me and actually hadn't thought about it, but this is a great scenario to post so that we can find out what some others have done in this same situation CalGal.

Reply by Rick_NY on 7/30/05 1:47pm
Msg #55922

Ky, nobody's going to get $100.00 to do a signing plus $0.50/mile for a 100 mile r/t. Most companies allow up to 50 miles away for the location anyway.

I like to get paid for what I do, too, but let's live in reality. I usually get $85.00 to $115.00 [excluding edocs] for a signing and usually don't have to drive more than 50-60 clicks r/t. Some are 5 miles away and that's a gift.

You know what they say: "It all comes out in the wash."

Reply by kynotary on 7/30/05 3:33pm
Msg #55952

Rick, I don't know how it works in New York, but I live in rural KY and get it all the time here. Do you ask for it Rick, that could be the difference.

You know what they say: "Ask and ye shall receive".

Reply by Rick_NY on 7/30/05 6:36pm
Msg #55987

Yes, I would ask the scheduler for extra $$ for mileage and s/he would say, "If it's too far we could try to get someone else closer to the site." That's how it works in New York City.

When the signing companies want "me" for the job, I can get extra for the distant deals.

Maybe there aren't so many notaries in your region. There are 348 notaries within 30 miles of my zip code on NotRot

Reply by NY_Taxlady on 7/30/05 7:35pm
Msg #56000

I agree with you. It is hard toget what your getting. They just say I'll call someone else. Maybe if we band together we could do better but I have to say most of my signing are loacl. What area code are you in?

Reply by CarolynCO on 7/30/05 9:54pm
Msg #56018

*I live in rural KY*

BINGO. Apparently, it is not saturated in your neck of the woods and the NNA hasn't gotten the word out about all the money that can be made as a signing agent.

A saturated area like California where the original poster lives, can't simply *Ask and ye shall receive.*

Reply by JanetK/CA on 7/31/05 4:47pm
Msg #56111

"BINGO" is right!!

Unless you are in a rural part of California, you'll be a bored, broke "asker"... And I assume you (i.e. the original poster) don't have much experience, or you wouldn't be asking about fees.

When establishing fees, you have to to take into consideration your market - which includes volume of potential business as well as competition, your level of competence and experience, and your expenses. I'm assuming you want this to be a profitable enterprise, not a tax shelter, which is what it will turn out to be if you work for peanuts. I recommend not working for less than $50/signing when you are starting out. You need to decide how many miles you are willing to include in your base fee. I don't know of any company that will pay for mileage in addition to a base fee, unless it is only for mileage in excess of base. And as someone said, most clients will just prefer to find someone closer.

Reply by la on 7/30/05 4:29pm
Msg #55962

I have a $125.00 base fee for edocs within 100miles r/t and keep very busy, then a fax back fee if docs require faxing, somethimes we dont charge for the fax . repeat business and reputation is all we have going .