Does anyone have a example of a fee schedule? I need a template.
No template required…
Your notary fees are fixed by your state - how much you can charge for your notarial act.
Add to that the hourly rate you feel adequately compensates you for your time, then an amount for mileage, then whatever you feel is fair for all the other things you have in running a business - printing (paper and toner, wear and tear), cell phone, licenses, commissions, training and certifications, etc etc.
Before that, you need to set up a business plan so you know what you need to make to be in the “profit zone” and not working for free.
Thank you Linda.
What about escrow office charges. How do I calculate that fee?
Hi…you probably won’t get an answer here about fees. I’ve been in your spot. Just keep reading. You will figure it out. I’m not sure what your question about “escrow office charges” refers to in regards to a signing fee.
People start shouting “price fixing” if we discuss prices. So FWIW.
I realize it’s NOT easy. People say “don’t take lowball” but new people don’t know what “lowball” fees are so everyone loses. Hang in there.
Mikki, by your comment I assume you’re in Texas? If so, you need to either tack on whatever that office is charging you or have your hiring party pay them directly.
If this is wrong, I apologize. Texas is the only state I know of that requires some closings take place in title offices or attorney’s offices.
I suggest finding out what they pay a signing service and charge that same fee or a little bit less but you provide personal, local service, with direct contact. You also will hand deliver documents to local companies when they open their office in morning, no waiting for fed ex or couriers. You can look on settlement statement, many times it is somewhere on there in fees. Never make any mistakes.
Some lenders are now requiring that any signing be conducted at a title or attorney office. Those offices can legally charge a fee for the use of their facilities or a private office for the signing. If the notary is being charged for the use of a title or attorney office, then that fee should be added to the notary fee. But here is food for thought: if the requirement is for the signing to take place in a title or attorney office, why wasn’t that signing assigned to a title company or attorney?? Most of them already have notaries in their employ and could accommodate the requirement! Maybe they are hoping the notary forgets to add on the additional charge for use of the facilities so they won’t have to pay for it or maybe the title company or attorney office charges way more for a signing that the signing service is willing to pay. I pass on those requirements and don’t do them.