| Topic Name: |
Corporate or Entrepreneurship? |
| Message Name: |
Notary Fees |
| Date Posted: |
12/01/2002 |
| In Reply To: |
My first thought: being let go after 21 yrs! Yikes!
The mobile notary is an interesting idea. Do a web search & find others (not in your area) who might be willing to give you the benefit of their experience - who their customers are, how they market, how they got started,etc. Notary fees are set by law, right? So you'll want to do some income/expense analysis.
Check the SBA web site, too, for info for small biz startups.
Best wishes,
Jane |
| Message: |
In CA the normal notary fee is mandated at max $10 however you can include mileage and other travel fees.
On the other hand, loan document signing is not mandated in the same manner since it requires a higher degree of expertise. Some say you MUST be certifed as a loan doc signer and other say you don't.
Loan doc signers set their fees based on the distance traveled and the complexity of the documents. They can be as low as $50 per signing to as much at $200 or more.
It's not difficult to see that just a couple of higher priced signings per day brings in a very nice income. However, you must market yourself to many companies....banks, loan, mortgage and escrow companies and any other financial instutuions that require notarization of loan docs, and register with a number of associations and agencies to get your name out there.
Just recently I have acquired the name of a local mobile notary that might be willing to share their experiences with me. They have been doing this work for 20 years and have made a good enough go of it that the entire family is involved.
With interest rates declining, more and more people are refi-ing and buying real estate....so the demand for notary services is high. When the demand declines people will always be refi-ing and buying property. When that time comes, the income will obviously be less but at just $100 per signing and a couple a day.......still makes a very nice income....and the flexibility to boot.
It's kind of a complicated process with setup and marketing and all.....but I believe the benefits outweigh the negatives.
Oh, one last thing....mobile notaries are basically.....have notary seal will travel....so basically there really is no such thing as a local vs non-local mobile notary. As a commissioned agent of the state...you can notarize in the entire state. Many mobile notaries will travel within a 100 mile radius.
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