Posted by bowie_MD on 11/1/06 5:19pm
Msg #156721

fees

Newbie here and yes I have used the orange search.
IN Maryland we can charge $2.00 per notarized doc, $.31 per mile and $5.00 for travel
A person I did a loan closing for is buying and selling and leasing real estate. He wants me to notarize a lease agreement for someone is is leasing a property to.
My question is can i charge any additonal fee above what the state allows?

2nd question this same person wants me to notarize a POA for a person he is selling a property to. Again can I charge any fee above what the State allows?

thank you

Reply by Charm_AL on 11/1/06 5:24pm
Msg #156725

I can only charge $1.50 per notarization here. If I travel to a location to make it convenient for the client, I charge a trip fee. A flat $25. for anything in my general area. Otherwise, I refer it out to my network.

Reply by bowie_MD on 11/1/06 5:26pm
Msg #156726

thanks, does your state manual address trip fees? maryland says I can charge $5.00?

Reply by Charm_AL on 11/1/06 5:31pm
Msg #156727

no, most say reasonable,,, but if you can only charge $5. I would have them go to you.

Reply by Genkichan on 11/1/06 6:13pm
Msg #156731

No, you cannot charge more than the state allows for this type of notarization. You are not providing any additional services, such as printing out the docs, making extra copies, helping them sign other docs that won't get notarized, and then shipping them back to a client. You are also not providing any expert knowledge on a particular subject, or helping them read and understand the terms of their lease.

In order to handle loan signings in MD, you must have a title producer license, a $100,000 fidelity bond (as of Oct. 1, 2006), a $100,000 surety bond, and most prefer you have decent E&O coverage as a witness closer as well. I carry $250,000. My loan signing fees are largely justified by the title licensing requirements in MD. And by the way we are all equally responsible for the title on the loan, as well, due to our licensing.

However, no additional requirements are necessary to notarize that lease document. For anyone who wants a general notarization, I always require that they travel to me. MD fees are way too low for me to go running around for every last caller needing a doc notarized. There are plenty of places people can go, including a bank, kinkos, local UPS store, even a nearby liquor store, etc. for a general notarization. $2.00 general notarizations plus a minimum travel fee is simply not worth my time and energy. You'll also go broke really quickly if you drive all over town for a couple bucks here and there. Places like CA are lucky...they can charge $10.00 a stamp plus a reasonable travel fee. Wish MD would wake up!!!

Reply by Carmen/123 on 11/1/06 6:36pm
Msg #156746

Its even better than that. In California t's 10.00 per signature. Not per stamp. So a document for example with 3 signers is 30.00. (plus travel if I have to go to them and we can charge a travel fee whatever we deem neccessay or the market will bare. I charge 50.00). This is why I refuse to do signings for 40-50 dollars. Its just not worth it. Florida is by stamp not signers.

~Carmen

Reply by Ernest__CT on 11/2/06 6:41am
Msg #156799

CT's fees for general notary work are just as bad.

$5.00 per notarial act (not per signature) plus $0.35 per mile (we all assume round trip [5 iles there and 5 back == 10 miles == $3.50]).

I do general notary work as well as signings. That's part of the Public in "Notary Public".

Reply by noteclub/MD on 11/2/06 10:40am
Msg #156831

Thank You for posting this info-- I hope it informs many Md notaries out there who are not following the rules. Although in all fairness it has been confusing.

Reply by Rives/NC on 11/2/06 10:47am
Msg #156836

In NC, I can charge 5.00 per stamp/seal. It doesn't matter if its for the same person or not or what type of document it is. I normally don't charge a traveling fee, but the people always pay me for coming out anyway. It depends how far the signing is.