Posted by Brenda Smith on 10/20/09 11:19am
Msg #307902

Fees in Idaho

I have been a Notary for over 15 years and just starting the mobile notary but I'm not sure what to charge. Would anyone be willing to give me rate ideas? I don't want to undercut anyone but I don't want to charge to much either.

Reply by Linda_H/FL on 10/20/09 11:33am
Msg #307904

From page 13 of your handbook...

http://www.sos.idaho.gov/notary/handbook.pdf


"NOTARY FEES AND EXPENSES

A notary may, but is not required to, charge a fee of two dollars ($2.00) or less for each notarial act performed. If a notary is required to travel to another location to perform the act, he or she may also be paid for the actual expenses of travel.

When a notary performs notarial acts in the scope of his or her employment, his or her employer may require the notary to provide the service without charge. However, the employer cannot require the notary to charge a fee and pass all or part of it on to the employer.

The limitations on notary fees appear in section 51-110, I.C."

Reply by Linda_H/FL on 10/20/09 11:34am
Msg #307905

Posted to quick..

Only you can determine how much to charge for travel and time - wear and tear on the vehicle - check your state law to see if there are any guidelines or limitations there..

Reply by CopperheadVA on 10/20/09 11:34am
Msg #307906

If you are talking about general notary work for private parties, then you can charge your state-allowed notarization fees plus a travel fee if your state allows you to charge a travel fee). I charge a nominal travel fee to meet people at my local Starbucks, plus I charge the $5 per notarization that my state allows. I have a website that caters to my local area and I do get a lot of takers. I don't get rich on that work but it's nice pocket money. I charge an increased travel fee for meeting people other places (minimum $25).

- OR -

Are you talking about getting into loan signings. where you print docs, travel to the singer's location, supervise signing of the package, complete all required notarizations, and send the package back to hiring party?

Reply by Brenda Smith on 10/20/09 11:56am
Msg #307907

Yes, I am talking about loan signings. Sorry I wasn't more specific.

Reply by Linda_H/FL on 10/20/09 12:16pm
Msg #307908

IMO your fees will depend on how much competition you have in your area - do a search here in the "Find a Notary" tab - that will tell you how many notaries are within a certain radius of you "just on this site alone" - that will give you an idea of the saturation of notaries in your area.

Also, what type of area are you in? Rural? City? Can you get to a signing in 10 minutes or (as in my case) does every signing require a minimum 30 minutes' travel one way.

Another thing to take into account, I'd guess, is your experience level with signings. Are you new to them? Have you ever done them? Do you have years and years of real estate mortgage experience? IMO the more you bring to the table the more valuable you become.

MHO

Reply by Brenda Smith on 10/20/09 12:29pm
Msg #307909

I worked at a bank for 13 years and did loan closings on regular basis. I live in a fairly rural area so it most signings would be 20-30 minutes away (one way).

Reply by Linda_H/FL on 10/20/09 12:33pm
Msg #307910

Sent you a p/m Brenda n/m

Reply by CopperheadVA on 10/20/09 12:36pm
Msg #307911

Me too... n/m

Reply by Linda_H/FL on 10/20/09 12:39pm
Msg #307912

Re: Me too... .. Copycat....:) n/m

Reply by Les_CO on 10/20/09 12:40pm
Msg #307913

You must decide if what you charge is enough to make a small profit. You aren’t going to make a big profit in this business. I’m in the greater Denver area, and I charge $125 for a standard e-doc refi that’s close. Some here charge more, some charge less. Many charge a $25 print fee (to print 2 copies of the docs), and $100 travel/signing/drop off/ return fee.
Good luck!