22-Jun-2023
Expert Notaries Public for Real Estate Closings
Key Takeaway:
- Expert real estate closings require the services of a Notary Public: A Notary Public is a public official who verifies the identity of signatories and witnesses the signing of legal documents. Their presence is necessary to ensure the validity of the transaction and prevent fraud.
- Notary Publics must be knowledgeable about the legal and financial aspects of real estate transactions: A Notary Public who specializes in real estate closings must understand the complex legal and financial aspects of these transactions. They must be familiar with state laws and regulations and have a thorough understanding of mortgage and title documents.
- Working with a Notary Public can help to ensure a smooth and efficient real estate closing process: By working with a Notary Public who has expertise in real estate closings, buyers, sellers, and lenders can be confident in the validity of the transaction. A skilled Notary Public can also help to expedite the closing process and ensure that all necessary documents are properly signed and notarized. We have a database directory of highly qualified real estate professionals here> NOBLE LEGAL PROS.
Some Facts About Notaries Public For Expert Real Estate Closings:
- ✅ A notary public must become licensed in their state before becoming a notary signing agent for real estate closings.
- ✅ States differ in the qualifications needed to become a notary public, but generally, applicants must be at least 18 years old and pass a criminal background check.
- ✅ Notary signing agents are recommended to undergo loan signing training and pass an exam before becoming hired by lenders and companies.
- ✅ Notary signing agents must display sound judgment, serve as impartial witnesses, and safeguard consumer information during the closing process of real estate transactions.
- ✅ Some states have additional requirements or restrictions for notary signing agents, including conducting closings with attorneys present and imposing restrictions on fees that can be charged.
FAQs about Notaries Public For Expert Real Estate Closings
What is a real estate closing notary and why do I need one?
A real estate closing notary or notary signing agent is trained to handle complex paperwork and extensive documents that come along with real estate and mortgage transactions. Most states require a notary signing agent for the borrower and mortgage lender to complete the loan transactions.
What are the qualifications to become a notary public for real estate closings?
Specific qualifications vary by state, but in general, you must be at least 18 years old, pass a criminal background check, and meet the state’s requirements for notary public licensure. Some states require a course and passing an exam to become a notary public.
What additional training is required to become a notary signing agent for real estate closings?
Once you are a certified notary public, you must meet the additional requirements to become a notary signing agent. A loan signing training course is not technically required, but it is recommended that you take one and pass the exam. Besides training, you may also need an additional background check to comply with the Consumer Financial Protection Bureau’s requirements to be hired by a financial institution.
What are the key responsibilities of a notary signing agent during a real estate closing?
As an impartial witness to the signing of important documents, a notary signing agent must ensure that signatories are correctly identified and that they understand the contents of the documents and are signing without being under any duress or intimidation. They must not notarize any document that they have a vested interest in and should not offer any advice or judgment about the documents being signed.
What are some state-specific requirements or restrictions for notary signing agents in real estate closings?
Some states, like Connecticut, only allow attorneys to conduct real estate closings for mortgage loans. In other states, like Virginia, notaries must have an escrow license if they handle any funds as part of the closing process. Delaware, Vermont, and South Carolina require an attorney admitted to the state bar to be present at all real estate closings, while Maryland and Indiana require a title insurance agent to be present. Florida and other non-attorney states are far less restrictive.
What fees do notaries typically charge for real estate closing services?
As independent contractors, notaries are typically paid a fee for each document. In some states, the notary can set their own fees, while in others, the state sets or limits the fee. North Carolina and Nevada, for example, both place restrictions on how much a notary can charge for each document. It is important to discuss the fees upfront with your chosen notary signing agent. Typically our signing services go for about $150 if they are local. If we are staffing them via our signing service agency the fees will be slightly higher to cover logistics.
What non-title company related real estate closing services?
We do offer very affordable legal document preparation services to all Floridians. While issuing a warranty deed without title insurance is risky, we understand special circumstances may apply. We assist with recording, executing and preparing quit claim deeds, warrant deeds, and our Florida favorite, the enhanced life estate (ladybird) deed. We even offer ready made download templates for the DIY type.
What if I am interested in becoming a real estate notary professional?
We offer a variety of online notary training courses to equip the aspiring real estate pro at every level of interest from beginner to advanced.
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