Signers asking about the Notary Fee

I joke with them and let them know my fee is usually 50% of the loan. They laugh and get the point in a respectful way.

I hate that question the most of all the usual questions that I’m asked. It’s none of their business for one thing. My usual answer is “it depends”. I don’t get asked too much about the fee, but when I am, I usually answer “not enough”.

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Yeech. Whenever I’m asked about my fee, I simply say that I’m not permitted to discuss it. I’ve never been pressed to take it any further.

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In my opinion, you should never take a weekend signing (especially a Sunday signing) for the same fee as a regular weekday signing. The signing services and title companies work Monday - Friday. Why should they expect us to work 7 days a week (including holidays) for the same fee? We deserve to be paid a premium rate for working weekends just like grocery clerks do.

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Most definitely. End of the month, weekends, same day signings knowing another Notary cancelled, and when I have hit my personal income quota for the week, I set a higher fee. Best way to give yourself a raise! :slight_smile:

It might be a good idea to write the fees in after the signing is completed, so they don’t get to see it.

@Bobby-CA :joy::rofl::joy:

Creatively humorous response that halts their line of interrogation . . . :partying_face:

:confetti_ball: Thank You :confetti_ball: for sharing it!

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:swan:

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Usually, I try and stay around 3. Thursday’s and Friday’s usually 4-5. It’s too hard to do more than 5 in a day. Friday, I had scheduled 4 but ended up taking a Reverse Mortgage at 9:00pm. Their Notary had cancelled, and I stayed firm on my price through about 4 rounds of negotiating. It was 1hr and 18min away from my office. So, when I was done, still had to scan that 270-page beast in, then print and prep my signings for Saturday. I did not finish until 4:00am with doing the books and sending out invoices. With that in mind I look forward to the beginning of the month only having to do 2-3 a day. Allows me to focus on the other aspects of the business that is not signing income related.

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I charge about $100 for anything within 40mins. $125 for up to 1hr and 15mins, $150 for anything up to 1hr and 45mins. and $175 for up to 2hrs away. I add $25 for larger print packages like Mr. Cooper signings always have, and $175 to $300 on Reverse Mortgages depending on distance from me.

I have set fees for certain packages like Seller, Buyer, Refi, Heloc, Rev Mor. I have never received more than $150 for a Reverse and I simply won’t travel out of a 20 mile range if they will not include a travel fee. I once took a back to back with one signer locally and the second one and a half hours away. I was paid for the first set and asked for $200 with travel and the documents (we were using the same set.) I think $200 is fair for a Reverse, especially if you have two signers. There aren’t alot of notarizations but it can be tiring for the signers and the notary to work through the documents. We are limited in what we can share with our signers and some of them, especially those who are taking out a reverse for the first time, can be very anxious.

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@keaton4notary :tada: Thank You :tada:for sharing your direct experience. :white_check_mark:

It mirrors my direct experience over the years of working on Reverse Mortgage files.

:swan:

@Mclaughlin1 That’s a very long day! :white_check_mark: :sad_but_relieved_face:

:swan:

I too park work. If I have a strenuous day (anything more than 3 signings) I park the extra ones so I can take a lighter day during the week. That time is needed for real life: doctor appointments, vet appointments, buying groceries, picking up meds or just to sit in nature and breathing deeply. A Reverse at 9 PM? I think you gained star status, but I wouldn’t want that to be my business model.

@cNsa5 It truly was! I had a signing at 9:00am an hour away. I took a nap, woke up and packed my brunch, grabbed my cooler for keeping hydrated and got at it. Finished up my last signing by 2:00pm. Then took a big nap. :slight_smile:

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I make the most money doing the late night grabs. 2-3 a week. Someone always cancels and they have to get it done same day or title has to change dates and amounts. Those you can almost always charge $200-$300. That one I did for $250.

The late night snatch and signs as i call them are the difference from a $1,500 week to a $2,000 week. Especially those weekend signings.

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When a signer asks me about the notary fee, I am comfortable and find no issue with disclosing the actual fee. As notaries and loan signing agents, we are entrusted with handling important documents and sensitive information, placing us in a position of significant public trust. Therefore, I believe that maintaining honesty and transparency regarding the fees we charge is essential for preserving and strengthening that public trust, and it certainly sets us apart from individuals who might engage in less ethical business practices, such as those sometimes associated with the used car industry. In the state of Florida, when performing general notary work, we are required to present an itemized invoice listing our fees, before performing general notary work. Why should loan signing fees should be hidden or not share with signers? We are not “employees” were discussing our compensation is prohibited. That’s my take on this subject.

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@cfletcher Yes, they’re definitively aware of Fees for General Notary Work [GNW]. :white_check_mark:

Most of my clients advise to NOT discuss Fees with the signer(s). As such, I honor their request.

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NOTE: My post that you linked above was about a very long day - not about Fee disclosure. :woman_shrugging:

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Presume you meant to link this one . . .

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:swan:

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