Unfair Notary Fees

In the closing documents, the notary fees are usually $400.00 to $500.00

Half of the time I lose money and time on these ventures

We need to do something to eliminate this !

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I been keeping track of the fees this year.

Its a catch 22 as we are at the bottom of food chain, that been said without no closing would be done.

While I do respect them people that said dont take less than you re worth, we all live with the reality of day to day expenses and when we have a slow week and bill due, what we do?

Um. Where are you seeing these Notary Fees of $400 and $500? I see Closing Fees in that range, but that category includes many items other than the fee for the Notary Signing Agent. It’s a catch-all category for a number of costs, most of which are not monitored by CFPB. When I do see Mobile Notary or Notary Signing fees delineated, they are in the $150 - $175 range.

It’s always important to look at the CD and see what notary fees are listed there, as it will tell you what the signing service is getting paid and what percentage of that money you’re getting. Maybe it will help you negotiate a better fee next time…maybe it won’t. You always want to be armed with as much information as possible when entering any negotiation. It will also give you a good idea what to charge should you ever be lucky enough to get direct business from a title company or bank.

& or sometimes double what they are paying us.

What I do is make a note in my phone or on their folder in my filing cabinet and if I’m home when they call me the next time I pull that folder and quote my fee from there. I’ll say “can you do $150.00 and then I stop talking” when I know that last time I signed for them they made $300 on the CD. Don’t show your cards & negotiate the fees every time newly. Out-think them and be more organized and stop talking. I’m very grateful every day that I have work in this industry and this too shall pass.

I’ve contemplated contacting all the notaries I could find in my area and telling them that we set the price and if signing services cannot get any of us to do it for the fees they are offering then they will start paying us all fair. Unfortunately, we all need to support each other instead of under-cutting each other for us to realize any fairness. As long as there are notaries who will take $50-$60 signings with 150+ pages then signing services are going to continue to only pay that. Plain and simple.

I’ve also contemplated accepting signings and then once I get docs checking the notary signing fee and if it is double or triple what I am getting paid then calling and renegotiating. I have done that in the past with companies who surprise me with extremely large packages and they have always raised their payment (especially the ones that like to give you docs two hours before signings because they have no choice). Maybe I am earning myself a bad reputation but from who? The companies I don’t want to work for?

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No one responded to you about this??? How odd! I am just seeing it for the first time, but i 100% agree with you!!

Just freaking sad they low ball us when ink,paper,mileage,gas,time dont equal up with what’s going on now it’s a shame sad but true.I would be embarrassed as a business to offer a low ball when someone has to earn near risk their life to get a signing.Just sad

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The notaries taking these low fees will realize very quickly that they are making zero money and will go broke in a short period of time if they continue doing business like this. License/permit fees; E&O insurance; gasoline/auto maintenance/auto insurance; paper/ink; printer maintenance; stickies/pens/business cards; the list goes on for our expenses and to take a job that you have to pay out money to get does not make sense. I suppose if new you can consider it an internship fee.

Ugh, please don’t take low fees!
I don’t take anything less than $100. Whether it’s 1 page or 130 pages. Price goes up if it’s out of my mile radius, if time is too late in the evening, if I have to drive into the mountains etc. Title and signing companies are very understanding and negotiable. And I get paid within 7-14 days. Got paid 100%. Zero unpaid signing. I feel so blessed. I’ve completed 42 signings for the month of March so far. And I’m only doing this part time. And turned down a bunch with excellent fees because I’m so busy. Thank you, God.

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They are not offering more because of Coronavirus, if that’s what you’re implying. However, I’m finding that if you ask for more, chances are that you’ll get it (if it’s within reason). Many notaries are not working because of the virus, so jobs are no doubt harder to fill. Don’t be afraid to ask for more.

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I concur. Always negotiate. I’ve been getting a bunch of refis at $250, $270, lots of $140, and the rest $120 the lowest. Said no to a bunch of high fees also due to schedule conflict:( I closed 22 for April so far working part time. I ignored the rest that are less than $120. If I have a slot open up here and there I will take $100 with a certain good local SS that I trust. I don’t understand how people can survive in this business doing less than $100.

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