Posted by PegiT_MN on 7/12/11 2:43pm
Msg #389487

General Notary Work

How awesome! I just got my first general notary work call from a nursing home in my neighborhood that needed me to notarize two POA's and two Health Care Directives. A bank found my name on Notary Rotary and that is how they called me. I ran over while I was waiting for docs for my evening closings, and it was fabulous! They wrote me a check for $40.00. No waiting 90 days and numerous phone calls for payment. I didn't know how much to charge though. I've been in the mortgage business for 10+ years and have typically closed for area banks. I am just now getting out there with national title companies and signing companies. I have never done general notary work, only mortgage work. I charged $10.00 per item notarized. I had no idea and I could sure use some guidance. I don't want to be one of those low ball notaries I hear about. Thank you for any guidance you can give to me.

Reply by SheilaSJCA on 7/12/11 3:05pm
Msg #389490

Re: General Notary Work- do your homework first!

You need to read your state guidelines/handbook/website; whatever it is ,that spells out and regulates MN notary fees, BEFORE you do any more general notary work!

You may very well be restricted in what and how you can charge the public for notarizations. To charge more than what is allowed in your state could come back to bite you.

Doing loan signings is a specialized field, where you are being paid for your services above and beyond the notarization part, that is why the fees are what the market will bear.

Reply by JanetK_CA on 7/12/11 3:09pm
Msg #389493

Re: General Notary Work- do your homework first!

Great advice! Also, if you are traveling to your signer's location, you might be able to charge a service/travel fee for that part, but you should separate that from the actual fee your state allows you to charge per notarization (or per signature, as we do here in CA).

Reply by taxpro on 7/12/11 3:08pm
Msg #389491

Congrats! I would have charged a travel fee plus a $5 per notarization fee. In KS, we are allowed to charge any fee for notarization, as long as it isn't excessive. The travel fee would depend on the distance, but generally $2 per round-trip mile with a $50 minimum. This includes my auto expenses and the value of my time driving there (my car doesn't drive itself), parking, and the overhead time involved in finding the person, and/or multiple persons. If it was in my town, it probably would have been $70 total - $50 for travel and $20 for notarizations. I've notarized docs in hospitals and nursing homes, and I've never had anyone balk at the fee. They're usually so grateful to get someone that will come to them, and they realize the value of that. Heck, it costs $89 for a plumbing service call, and that's just for them to show up. It costs more if you actually want them to fix something.

The social worker at a local nursing home (16 mi R/T) has my card and gives out my name and number when someone needs a notary. When I originally quoted the fee to her, she said it was very reasonable.

Reply by JanetK_CA on 7/12/11 3:11pm
Msg #389494

Great analogy!

Even the cable company, handy man or any other service you can think of, will charge a fee just to show up to your location. Anyone who expects us to do that for free just isn't thinking rationally.

Reply by A S Johnson on 7/12/11 3:14pm
Msg #389495

How about Notary 101.
How much does MN allow for a notary act?
Is that per act (document), per signature or what?
If I leave my office for mobile Notary work, I have a fee for my time plus notary fees

Reply by Linda_H/FL on 7/12/11 3:16pm
Msg #389496

Are you in MN or WI? Easier to answer if we know

exactly where you are.

Reply by Linda_H/FL on 7/12/11 3:18pm
Msg #389497

If I found the correct editions of the handbooks

WI allows 50 cents/notarial act; MN allows $1/act.

As someone said, be very careful...

Reply by Notarysigner on 7/12/11 3:21pm
Msg #389498

sounds like too much imo n/m

Reply by taxpro on 7/12/11 3:29pm
Msg #389500

too much what? n/m

Reply by Notarysigner on 7/12/11 4:05pm
Msg #389505

Re: sounds like too much imo

Pegit..if you can only charge 1.00 and you charged $10.00, that is too much IMO

Reply by PegiT_MN on 7/12/11 4:08pm
Msg #389508

Re: sounds like too much imo

Our state is shut down right now, so I couldn't call anyone to ask. The bank who referred me is who told me what to charge. That is what they would have charged she said, but she didn't want to make the drive. I will definitely look into it. Thank you for your help.

Reply by Linda_H/FL on 7/12/11 5:01pm
Msg #389517

I found MN & WI handbooks online...fees clearly stated

and this is one of the first things a notary learns - what fees they can charge

Notary 101

Reply by PegiT_MN on 7/12/11 8:57pm
Msg #389535

Re: I found MN & WI handbooks online...fees clearly stated

I understand that in the state of Minnesota a notary can charge $1.00 per item notarized.....I get that Linda. Notary 101 thank you. I also know that if notaries are on here upset that they are only being offered $50.00 for a loan signing, I hardly doubt they are running across town to notarize a couple of POA's and Health Care Directives for only $4.00. I don't need a Notary 101 class, I need guidance from my fellow peers as to what they charge when they are going out to do general notary work. In addition to the $1.00 per notarial act, do they charge an hourly rate for their time? Do they charge a service fee? Do they charge mileage? Anyone who would like to give me some information I can use would be appreciated very much. Thank you.

Reply by Linda_H/FL on 7/12/11 9:12pm
Msg #389540

Peg, if you know how to price your loan signings

then you should have no problem pricing your general notary work.

And does your state allow you to charge travel? That's what you need to find out.

Reply by MW/VA on 7/12/11 3:46pm
Msg #389502

Congrats. Assuming you did follow your state's guidelines for fees, this kind of work is very rewarding, and I've found it isn't always about the money.
I am a mobile notary, and have a minimum fee of $25 w/travel. I took my biz cards to a local nursing/rehab center that's only minutes from my house. I get quite a few calls from there, especially for POA's. Since I'm in biz for myself, I also have the privilege of adjusting my fees for these situations. I actually charge less than my regular minimum. The state max. fee for notarizations is $5 here.
IMO, establishing what you need to charge is for your personal situation.

Reply by PegiT_MN on 7/12/11 4:06pm
Msg #389506

Thank you everyone for your wonderul advice. The lady at the bank is who told me what to charge, but I will make sure I find out from our state, which is shut down right now. I live in Minnesota. Thank you again everyone!

Reply by Notarysigner on 7/12/11 4:08pm
Msg #389509

Ditto

My travel fee is $25.00 anywhere in my city plus notary fees which I often discount. The word will spread.

Reply by closergrl on 7/12/11 4:21pm
Msg #389511

In MN you can charge $1 per notary act. When I do general notary work, I charge for the travel and a convenience fee, usually a minimum of $50. See this website, it is the MN state laws: http://www.nationalnotary.org/userimages/minnesota.pdf

Reply by LKT/CA on 7/12/11 11:22pm
Msg #389544

Agree with Linda H/FL - Newbie 101

<<<I didn't know how much to charge though.......The lady at the bank is who told me what to charge,......I charged $10.00 per item notarized. I had no idea and I could sure use some guidance.....>>>

Your original post gave me the impression that you are a newbie. Your subsequent posts reinforced my thoughts that you are a newbie who is without a business plan. In my opinion, professionals know what they're doing. Newbies are clueless (i.e. "I had no idea....").

When you speak of per "notarized" item, you should only be addressing your state's mandated notarization fee - not to include a service or travel fee. A business owner should not offer their product/service based on what "the lady at the bank told them to charge". It would be a good idea to develop a business plan so you have an outline of your fixed costs (i.e. supplies, marketing, equipment, gasoline) and the intangible costs (i.e. value of your time, wear and tear on vehicle, wear and tear on equipment, etc.) - price your mobile services accordingly and see if your fee structure can yield a profit.

No one can suggest for you what to charge. Only YOU can decide what your time and talents are worth and that is different for each of us. Our availability is different as is our coverage areas. Some Notaries may be rural, which means a minimum distance for them could be at least 10 - 30 miles one way so they must charge for travel in order to not operate at a loss. Other Notaries, like myself, are in the city and have any number of neutral meeting places (i.e. the library, Starbucks, McDonalds, etc) at our disposal so we can offer the customer the option of waiving the customer's travel fee if the customers comes to us. Too many variables for anyone else here to tell you what to charge so the only "guidance" anyone can give you is to encourage you to do your own research - YOUR fee should cover your expenses and yield a profit. JMHO

Reply by PegiT_MN on 7/13/11 8:39am
Msg #389559

Re: Agree with Linda H/FL - Newbie 101

Thank you for that. I will definitely do my homework.

Reply by linda/ca on 7/13/11 7:47pm
Msg #389651

Re: Agree with Linda H/FL - Newbie 101

Hi, Pegit, as an FYI:It appears that from statements of several posters, they don't charge a travel fee if they meet a customer at a location other than their home. I charge a travel fee whenever I leave my home no matter if I meet them at a library, Starbucks, or McDonald's. Travel is travel! That is, of course, unless I waive my travel fee, which I often do if it is feasible.

Reply by jba/fl on 7/13/11 9:34pm
Msg #389653

Re: Agree with Linda H/FL - Newbie 101

My "satellite office" is either 1/2 mile away or 1 mile away, depending on which I am using. I may charge $5 to meet you there, or I may just charge for the notarizations. A lot really depends on manners, circumstances, etc. since I can charge $10 for each notarization. Even then, it will depend on mitigating circumstances. It is my business, it is my call.

If you want to meet further away, I will charge accordingly. As my customer, you have choices. If you call my number, you will get service even if I have to refer you to another
NotRot notary in your area if the timing is not what I want or I cannot meet with you. I figure that if I help you get what you need, you will call again remembering the assistance I have given you or yu will refer your friends on my side of town.

Service is everything.