I am newly commission in Texas, and setting up my business. I have reached the point of setting my fees and costs.
Can you set minimum fee? For example I have seen some notary fee schedules like:
for general notary work $20+Travel+print?
for POA $50+Travel+print?
Does the stated minimum ($20, $50 above) include the notarization fees or is that additional too?
For a mortgage loan signing, say you agree to a fee of $300. Does this include the notarization fees or is that additional? Can you also add travel+print+faxback?
I want to service medical facilities and senior signers. Are these similar to loan signings where you agree to a fee before hand. For example, you agree to a fee of $200 and then add travel+print+faxback?
Can anyone share some of their recent invoices with me (suitably redacted off course).
Many notaries have said that faxes are obsolete these days - is that true?
@nadeem It’s important to ensure that you’ve created a Business Plan that will sustain you & your professional notarial services.
If you already have created one, GREAT!
Also, obtain an Employer Identification Number [EIN] as soon as possible (if you don’t already have one). You’ll utilize it on the W-9 forms in lieu of your SSN.
Here is a thread I created to be of support to those who are new to this business sector, because if is an often-asked question:
To gain additional insights, Research the keywords: “Notary Fees,” “Scanning Fees,” “Travel Fees,” etc. within the Notary Cafe database.
Don’t know how to Search the Notary Cafe database?
This information is a GOLDMINE!
Most members express that they find it difficult/NEARLY IMPOSSIBLE to locate the SearchFunction in order to access the wealth of information available within the database that has been generously contributed by your sagacious fellow business owners over the years . . .
To be helpful, I’ve inserted an image for you & others [see below] to help members locate it to unlock the wisdom & knowledge of other members on the forums.
Can you set minimum fee?Research the Texas Notary Handbook & Texas Statues for the specifics within your State.
Does the stated minimum ($20, $50 above) include the notarization fees or is that additional too?Research the Texas Notary Handbook & Texas Statues for the specifics within your State.
For a mortgage loan signing, say you agree to a fee of $300. Does this include the notarization fees?Yes
Can you also add travel+print+faxback?Yes, you can - presuming this is for a mortgage loan signing; however, some clients balk at additional fees.
FYI: The “Travel” fee should be a component of the Mortgage Loan Signing fee.
I want to service medical facilities and senior signers. Are these similar to loan signings where you agree to a fee before hand.Not exactly, they’re more like General Notary Work [GNW] appointments. Yes, fees are agreed-to prior to the appointment.
Many notaries have said that faxes are obsolete these days - is that true?Not really . . . It’s totally & completely contingent upon the Lender OR Title/Escrow Company [T/EC]. Some do request scans. Some don’t. Some want them within 1-2 hours after the signing is complete. Some want them scanned at the signing table.
Be certain to Research the Notary Cafe database for the keyword “scans” as well, because there are myriad threads & posts on that topic.
SPECIAL NOTE:Accessing the database to locate information about potential clients has saved many of us an inordinate amount of time ‘chasing’ payments for Services professionally provided to potential non-payers . . .
@nadeemThere are a few predatory marketers found within this business sector; i.e., “Six-Figure Earnings” program, mentors, etc.
For a true reality check, review the nationwide earnings survey results to ensure you’re fully cognizant of the median & average earnings by region, state, etc.
I don’t know what’s LEGAL in TX as to both fee for notarization and travel fee allowed for General Notary Work, but you darn well better before you set fees. Most states have both a max fee for notarization and travel. From your questions, I’d say you have no idea what you’re doing yet. But, you’ll learn.
Loan signings… your fee is based on rough estimate of pkg. size (Big pkg = more time at table, more supplies cost), Travel is the biggie, and number of notarizations is irrelevant and included in fee. Better know what your costs are, plus profit you want when that 1st offer of $60 comes in and you’ve got seconds to make a decision OR (always) counter.
Hey, congrats on your commission and welcome to the biz!
Minimum Fees?
Yes, you can set a base service fee for general notary work. In Texas, you’re limited to $10 for first notarization, and then $1 for each additional signature, but you can charge extra for:
Travel
Printing
Scanbacks
Waiting time
So something like $20 + travel + print is common, and the $10 for first signature and then $1 for each additional signature. Make sure items are either itemized or baked into that rate.
Loan Signings
If you’re quoting, say, $300 for a loan signing, that usually includes everything—notarizations, printing, scanbacks, travel, drop-off, etc. It’s a flat fee.
Medical/Senior Signings
These are more like general notary work, but you can still quote a flat fee ($100–$200) based on travel, parking, wait time, etc. Just confirm details up front.
Faxbacks?
Mostly a thing of the past. Most companies want scanbacks, but it doesn’t hurt to have fax capability just in case.
I charge a flat fee by location. I usually do that via a counter offer and will state “all charges are included” or I will state why that’s my fee “excessive drive time, rural travel, includes printing” - that kind of thing. I don’t ever charge per notarization. I’ll
raise the fee for printing if I’m familiar with the hiring company and know it’s going to be over 150 pages. If you accept a flat fee, you’re accepting that fee for everything required.
I have done signings at nursing homes but I’m not a fan of it. I have declined to finish some of those appointments because the signer had no idea what they were doing and I won’t notarize a signature when someone’s kid is bullying them. So I avoid them.
You can also look into doing jail signings. I haven’t done them - but there aren’t a lot of notaries who do, so maybe it would be worthwhile.
@nadeemHere is further clarification on the topic . . .
Some will say that facsimile/fax is different from scan/scanback . . .
Well, in general, many years ago that would have been an accurate statement from a technology standpoint.
The facsimile/fax underwent a metamorphosis several years back and as a result both transmission techniques result in the production of a digital copy/file for many business entities (contingent upon their equipment).
Previously, the facsimile/fax process was to transmit a document from one location over a telephone line & a representative paper copy of that document would be produced on the receiving end of the telephone line via facsimile/fax equipment.
Today, when one dials the facsimile/fax telephone number from one location to transmit a document to another location, a digital copy/file of that document is produced on the receiving end (not a paper copy).
Today, many utilize the nomenclature of facsimile/fax & scan/scanback interchangeably.
You may ask the question: Why?
Because the technology today for facsimile/fax & scan/scanback work (in most instances) has the same result ===>>>a digital copy/file.
You should give a complete schedule of your fees, breaking down each element, in any advertising you do, so the reader knows exactly what to expect. Or, give a link to a website that breaks down the fees. There should be no surprises when you ask for payment.
Breakdowns are not required. I have a fees schedule published on many of the platforms. I don’t break it down into line items unless I ask for an additional fee for inclement weather or excessive page counts that weren’t included because I didn’t see how big a package was. If you believe you should break down your total fee, go ahead. But there is no should for other people who don’t find it necessary.
I think schedules prefer to know this location is x dollars. I’m consistent with what I charge per location. I don’t have any problem getting paid for the fee I quoted. Complicated isn’t better. It’s just complicated.
I don’t do a lot of “General Notary” work. I do mostly real estate transactions, where it’s not broken down. On the GNW that I do, how I price it depends on the situation. I was just saying that if I was going to advertise to the public on a website, I would break down how the pricing goes, so they know before they call me and have to ask. That said, the structure of the fee might be different if I’m doing one notarization or I’m doing ten. If I’m doing ten, I would probably waive the travel fee. If I’m doing only one, you can bet there would be a travel fee. I’m not leaving the house for $15.
Hi, I am new and working on my fees and I am in the Houston, Tx area. Would anyone mind sharing what they charge for refinances and home equity closes as well as their fees for any other loan signings for signing companies?
Fees are very notary-specific and what works for each of us personally. Use the ‘search’ feature (magnifying glass/upper right) and you’ll get so much help your eyes will twiz.
