Bob Timm, Stories of a Mobile Notary
The call this week was on a topic that is essential to all real estate transactions but often not given its importance, the certification of documents by a notary public. In CT, all closings are done by lawyers, who are all certified as notaries as well. In states where title companies handle closings, Notaries are far more common.
ActiveRain member, Bob Timm, a retired real estate broker now working as a Notary offered information on the services he provides in the Minot, ND area as we as some of experiences as a mobile Notary.
The process he described of being assigned as a notary for a transaction sounded similar to the process an appraiser might undergo. The buyer, through a lender needs a notary to close and certify the documents. The lender contacts a title company, who in turn looks at their list of signing companies that then offers the job to a notary that may be closest. The stipend that will be paid is offered and the notary elects to pass or accept the job.
To be allowed to handle most jobs as a notary, one must be a member of their national society, National Notary Association, NNA. There is a set of requirements to be a member of the NNA, is similar to being a member of NAR: must be a licensed notary; pay the annual fee to the NNA; be bonded by the state and carry E& O insurance; pass their annual background test, and also pass some the requirements of some of the signing companies.
Bob, also gets a lot of business through walk-ins to his office as well as from title companies and lenders directly. As there is a military presence in his town, he will be called on to certify documents for a serviceman whose spouse back in their home state is making a large purchase that requires signature verification. There would be a notary in that state verifying documents as well as him doing the same locally. He also certifies documents for divorces and debt consolidation.
He mentioned that he has his 'naughty list' of companies that he will just not work for as they will give him a job and simultaneously seek out another notary that will work cheaper. He also does not work with some companies that are completely automated as they tend to be non-responsive. He cited an example were there were questions at a signing table, and it took an inordinate amount of time to get an answer.
He has been a notary for 25 years and has made a comfortable living in his 'retirement job'. He will get calls direct from signing companies who will request his services and will let him know how many pages and the location of the call. When he asks how much its paying, he rejects any that are less than his $100 minimum charge as he needs to go to the job as we as print out all the documents and express them back.
He also is particular as to the distance he will travel as there are few notaries in the state. His normal radius is up to 60 miles and the nature of the job.
He mentioned doing work for people from Canada, who will come across the over from Canada to get their documents notarized, that ill then be expressed around the country. He has also been asked to notarize gambling proceeds from people returning from Las Vegas.
The tools for his job are a hard briefcase, and a good combination B & W and color printer.
He saw a drop in business due to Covid as title companies closed. Before he developed his retirement mindset, he would do 3-4 transactions a day and now is down to 2 a week.
It was a different yet informative call and was well attended.
Zoom Call 3.28.23 Bob Timm, Stories of a Mobile Notary
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