Being a notary signing agent is an excellent way to make extra cash on the side and build your own Notary business; becoming one can provide additional financial security while giving you more control of your schedule and becoming your boss! You can set your hours while being your boss!
Notary Signing Agents and Mobile Notaries can obtain signing work in various ways. Some rely on signing services that will take a cut of their fee, while others work directly with escrow and loan officers.
Notaries specializing in loan signings can earn up to $200 for an appointment about an hour. They work closely with mortgage officers, real estate agents, escrow and title companies, and lenders in scheduling these appointments since loans require multiple signatures, such as initials and dates; such documents need to be reviewed thoroughly before being signed properly to avoid delays in processing paperwork. Notaries can help walk borrowers through this process and ensure all signatures are in their respective locations.
Qualifications to become a loan signing notary include being an active notary public in your state, passing a background check, and purchasing errors and omissions insurance (depending on which state it’s required). Your training course should provide more details.
Many notaries signing loan documents part-time also work full-time at another job while adding signing services as an extra income stream. To find work, they might join national databases used by signing agencies and title companies to locate qualified notaries; some even pay fees to appear more prominently or take additional services like courier fees that involve printing and delivering packages completed for loan signings.
PJ Wilson of Houston, Texas, took an online course called Loan Signing System to break into the signing business. She paid about $85 to become a Notary Signing Agent (NSA) in her state and $200 for four years of liability insurance coverage. Assignments came through text or email messages from signing services that sent selections directly to her – she worked seven signings a week while making good money.
Notaries who provide loan signing services can increase their earnings by approaching title offices, escrow companies, and mortgage brokers directly and offering their services. More experienced notaries might charge a higher fee or provide extra services such as reviewing documents and ensuring signatures are correctly placed.
Real Estate Signings
Real estate signings can be among the highest-paying mobile notary work opportunities, mainly if they specialize in this transaction. A Notary Signing Agent specializing exclusively in this field could make six figures annually; they must put in hard work building their reputation and booking as many appointments as possible. Additionally, this type of work requires considerable travel, so a Notary should charge traveling fees and any applicable photocopying or per-mile travel fees for every appointment scheduled.
Notary Signing Agents typically gain business through networking with real estate agents, loan officers, escrow and title companies, and advertising online and on social media. Typically, they purchase their supplies while protecting themselves with errors and omissions insurance policy to shield them from liability issues.
Notaries starting usually don’t find hefty fees immediately; it typically takes 12-24 months to build experience before commanding higher prices. Still, an NSA with the necessary training and hard work can begin earning significant income even as a part-time notary public.
Once a Notary has fulfilled their state-specific certification requirements, they can become certified loan signing agents and assist lenders as they assist their borrowers through the mortgage process. Notaries holding this certification can help borrowers verify signatures, answer any queries about signed documents, and ensure each paper is marked correctly.
Notaries typically earn between $75 and $200 for hour-long signing appointments. They will print off documents, meet borrowers, and guide them through the signing process before returning the signed copies to lenders and collecting their fees. When hired by an escrow or title company, they typically receive all their payments upfront. With loan signing services, they often split it with them and collect their portion after closing.
Power of Attorney Signings
Having a power of attorney is an essential legal document that grants someone else authority to make financial and medical decisions on your behalf in case you ever become incapacitated and cannot act for yourself. A notary can assist with creating the document to ensure its legal bindingness – they’ll need to verify your identity, ensure you understand what’s being signed, witness their signature, etc.
Free templates online offer you a quick way to draft a power of attorney. Still, these may be cumbersome because they require you to input all the necessary data independently without guidance. Alternatively, an online service offering this service for around $35-$45 could create one for you instead and save time and effort by creating one precisely how it suits you.
Some states have set fees that notaries may charge to perform notarial acts, while others allow notaries to select their fee schedules. When selecting a notary, ensure they offer reasonable prices that match how much work needs to be completed for your appointment.
If you need multiple documents notarized at once, ask for a discount. Most notaries will offer their services at reduced rates to larger groups who need them; also, it would be wise to compare notaries for potential deals that you may take advantage of.
Notaries often charge a travel fee when visiting homes and businesses, which typically depends on the distance between their office and yours. Others might also add a clerical or administrative charge to the total bill.
Notaries play an invaluable role in our legal system. Their responsibility includes witnessing signatures on important documents like deeds, power of attorneys, and mortgages – and being highly attentive in their operations. But how much do they make?
Answering this question depends on several different factors. Notaries’ fees often depend on market conditions and can differ by state; their earnings also depend on whether they work as employees or freelancers.
Notaries employed as employees typically receive a salary that includes their commission fee for notarizing documents, making this an effective means of income generation for notaries. Many notaries find operating independently as independent contractors more straightforward and profitable.
Notaries new to the profession should remember that making money may take some time – usually, a year or two until they can establish themselves and grow their client list and referral network.
Notaries would join professional organizations like the NNA to stay abreast of industry news and trends and meet potential partners or clients through these associations.
Notaries can expand their earnings potential by offering specialty services, such as document storage or electronic notarizations. While not available everywhere, such opportunities provide notaries an additional way of increasing their earnings potential as notaries.
At its core, how much a notary earns ultimately relies on their skillset, dedication, and efforts put into their career. Provided they work hard and keep abreast of industry developments, they should be able to generate enough income as notaries to earn a decent living from this profession.