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Re: New to Notary
Posted by  Yoli/CA of CA on 4/26/17 9:27am Msg #574277
Depends on what notarial act you're asking about. HOWEVER ... first and foremost ... you must follow your State's notary laws. Here's the link to the New Jersey Notary Manual:

http://www.state.nj.us/treasury/revenue/dcr/geninfo/notarymanual.shtml

If you're asking about a complete real estate transaction, you may want to do some research here. There's plenty to learn. Remember, this is <<your>> business. <<You>> set your fees. The hiring party may offer a fee. It's up to you to determine if that fee is within your business plan or you can counter-offer with what works for you.

To conceptualize what fees work for you, take everything into consideration: cost of equipment and maintaining it (printers, computers, scanner, cell phones, vehicle, etc.); office supplies; taxes; utilities to run equipment; fuel for vehicle; insurance; cost of becoming notary; cost of bonds; cost of background checks; etc, etc. Again, there's been much discussion here that will be of much help to you. Finally, you may consider contacting SCORE for guidance.

Personally, what works for me: My base edoc fee is $125 for package no more than 130 pages, travel within a 15 mile radius. Larger package = larger fee. Longer distance = additional fee. Scan-backs = additional fee. Spanish required = additional fee. More than 3 signers = additional fee. Reverse mortgage = additional fee due to usually requires additional time at the signing table. E-signing = additional fee as it requires additional equipment at signing table. Now, this is what works for ME in Northern California (Sacramento area). It may not work for notaries in Southern California or New York where cost of living is higher and traffic is worse. My fees haven't changed much since 2006. That's another thing to keep in mind. Once you set your fees, hiring companies keep that fee in their database and are reluctant to increase it. Therefore, try to not go too low. (just my personal suggestion)

Good luck! Smile
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Messages in this Thread
 New to Notary - Giuseppa Held on 4/26/17 8:51am
 Re: New to Notary -  Cheryl Elliott on 4/26/17 8:56am
 Re: Notary fees - JkWa on 4/26/17 9:15am
 Re: New to Notary -  Yoli/CA on 4/26/17 9:27am
 Great advice!! n/m -  John/CT on 4/26/17 6:49pm
 Re: New to Notary -  Doris_CO on 4/26/17 9:58am
 Read your state SOS, know what fees you can charge -  Cari on 4/27/17 9:59am



 
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