Olivia Mosley, Notary Public & Document Preperation (Arizona Administrative Management Services LLC)

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Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

I am in an attorney state so, their fees are a separate line item. Never heard of Closing costs being anywhere near 10% of sales price though - that seems excessively high - at least 3 times normal here.

Dec 07, 2020 09:48 PM
Rainmaker
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Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

In MA we use attorneys and as such there is a separate line item on the CD

Dec 08, 2020 06:24 AM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

We do things a whol elot different in NH. We use closing or title companies. The company has to be owned by a lawyer, but does not have to have a lawyer conduct the closing. The closer is a notary who witnesses all signatures. Our buyers and sellers attend closing. When you sign, it then funds and the buyer gets keys and the seller gets a check on the spot. Closing costs here are usually about 5% of the loan amount. 

Dec 08, 2020 04:52 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Olivia,

I'm in California.  Notaries here are ordered by escrow and they get their own line item on settlement statement.  Both parties have notaries and pay their own fees.  The principals can also get their own notary, go to notary themselves (no travel fees involved) or they may be able to get it done for free at the bank (depending on the bank and their account level).

 

Edit: A little further clarification on travel fees for notaries.  In California notaries may only charge a set rate per notarized signature (it was raised last year to $15, used to be $10).  That amount is set by state law.  If the notary travels, they can charge a travel fee, which they have full control over but should be discussed with the client ahead of time to avoid surprises.

 

So as a former notary, if I drove to you I could charge a travel fee (like a service call fee from a plumber) plus $15 per notarized signatures (regular ones are free).  If you came to me, I could only charge the $15 per signature.

Dec 07, 2020 08:27 PM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Notaries are like a fact of life.....

Dec 08, 2020 06:51 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Sometimes a separate line item and sometimes absorbed in a closing fee. Different strokes for different folks.

Dec 08, 2020 04:33 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not something we worry about here, generally a notory at the title company or bank where we close to do this for us.

Dec 08, 2020 12:18 AM
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Olivia Mosley
Arizona Administrative Management Services LLC - Phoenix, AZ
Notary Public & Document Preperation

Thank you for answering that to dig a little bit deeper when escrow assigned the fee which I see is in the closing costs how do they get that amount. I typically see it fluctuate from $90-$500 and in all honesty it's never disclosed how they get that amount so I'm wondering when closing costs are put together in escrow Is it random by escrow by affordability.

So I'm in the process of choosing like an underwriter and a bank and I am getting together my closing software I haven't decided if I'll be using Qualia or Tesware but when we were going through the training and I understood everything but again I was like so where does the notary fee come from, How was the amount generated if The loan was buyer or seller how would I suggest the notary fee. 

Dec 07, 2020 09:17 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Olivia,  From your own comment on this post - you get the notary fees from the notary and those fees are plugged into the software.  In CA we have statutory fees. If travel fees are charged, those fees are also obtained by the notary. Due to COVID most all of our sign-offs are being done by mobile notaries because the title company is closed to the public. 

Dec 08, 2020 09:06 AM
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Jerrill Ewing
N & J Lake Properties, LLC - Eatonton, GA
Builder

closing costs are no where close to 10% in Georgia.  And no seperate fee for notary because we're an attorney state. They notorize documents as part of their attorney fee. (we also do not have title companies in GA)

Dec 08, 2020 03:28 PM
Rainmaker
1,292,056
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

The notary fee is on a separate line and is paid to a third party...the notary.

I agree that closing costs of 10% is high compared to what I normally see.

Dec 08, 2020 07:05 AM
Rainer
413,101
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

There is no rule about a percent of the purchase price in any state in the US. Lender fess are disclosed many times during a transaction and buyer signs and accepts at start (before 3rd day) again when they lock maybe again when they change something then again a closing disclosure and finally at closing. Notary in all the states for mortgage is about $150 as there are 180 pages. I have seen notary fee as high as $250 when there were 6 borrowers at two locations and they had to be done after 10PM  Notary fee is not accumulated- call me I can help decipher the details. If you are looking to find more business find out who the busiest escrow is in your drive area. If they tell you the notary is a relative, go on to the next one.

 

Dec 09, 2020 03:41 PM