How To Make Money As A Public Notary – John Snedeker is a licensed mobile notary who goes directly to his clients to provide notarization services. Chris Zupa / The Penny Collector
John Snedeker did not become a notary public because it was his lifelong dream. He did this because it was a requirement for the loan officer job he got fresh out of college.
How To Make Money As A Public Notary
It wasn’t until years later that he realized how valuable his notary commission was. After the economic crash, he became a mobile notary, meaning he drives directly to his clients who need notary services, and he started his own business teaching others to do the same.
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“The forms that are created every day and every hour of every day have to be notarized — wills, trusts, power of attorney forms, forms for school, forms even for your kid to play football sometimes,” he said. “There are many different possibilities.”
The most common employment opportunities include working as office administrative support or freelancing as an independent notary public.
If you’re looking for a way to make a little extra money—or maybe even land a decent-paying full-time gig—you might also want to consider becoming a notary public. The start-up costs are relatively low, the work is flexible and the credentials will give your resume that extra boost. In addition, becoming a notary public offers quite a good earning potential.
A notary impartially oversees the signing of legal documents and prevents fraud by ensuring that the people signing the documents are who they say they are and that they are willingly and knowingly entering into the legal contract.
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The notary does this by verifying the identity of the signer and making sure that he is fully informed and aware of what the document he is signing entails.
The requirements to become a public notary public are fairly lenient. There are no specific experience or education requirements (except notary training where applicable). In most states, you can become a notary if you are 18 years old and not a convicted felon.
You must be a legal resident of the state in which you are applying, and most states require that you be able to read and write English.
Initial startup estimates range from $100 to $500, though other costs may be incurred along the way. These may include a website or advertisement to let people know about your services.
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The process, qualifications, compensation and duties of public notaries vary by state. This is a general overview to help you become one.
If you decide to become certified, be sure to check your state’s requirements. You may find that you must meet all of the following requirements – or just a few.
According to the National Notary Association, only 11 states require you to take a training course, although most states will encourage you to do so.
California, Colorado, Delaware, Florida, Missouri, Montana, Nevada, North Carolina, Oregon, and Pennsylvania require notary training that includes three to six hours of training. Classes usually cost between $100 and $200.
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Currently, 12 states require prospective notaries to pass the exam: California, Colorado, Connecticut, Hawaii, Louisiana, Maine, Montana, Nebraska, New York, North Carolina, Oregon, and Utah.
If you live in one of the 12 states that require notary exams, visit the Training and Education section of the National Notary Association website to find the location nearest you.
Some states may require you to be fingerprinted and undergo a background check. Sometimes this is included in the exam process.
Most notaries are required to purchase a surety bond in case they make a mistake that harms someone. If this happens, the bail bondsman can compensate the injured person up to the bond amount. Bonds range in value from $500 to $25,000.
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You’ll only pay a small fraction of the bond’s value. For example, in Florida, a $7,500 promissory note plus the filing fee will cost you about $74 — and you’ll be protected for up to four years against claims resulting from mistakes you might make.
If the bond was required to indemnify you in the event of an error or negligence on your part, you would have to return the bond in full.
For states that require a bond, you will usually have to purchase one before moving forward with the application process. Bonds sometimes come in “packages” that include the materials to become a notary public.
Although no state requires notaries to purchase errors and omissions insurance, some notaries invest in one. A bond is a notary’s first line of defense in the event of a mistake, and this insurance policy can help cover the cost of legal fees if someone decides to sue you.
Ways To Make Money As A Notary
A four-year, $25,000 insurance policy costs between $60 and $300. If someone takes legal action against you, the policy usually covers court costs and legal fees up to the policy amount. Unlike a bond, you won’t have to pay this amount back and there is no deductible.
Once you’ve completed the necessary training, passed the exam, and acquired the surety bond, sit back and wait for your official notary commission — which names you an official notary public with a commission (read: term) usually of four years. Yes!
Commission approval will come in the mail and you will need to fill out a final application with your commission and surety information from your state’s notary office and any application fees.
If you use the services provided on the NNA website, you may be able to submit your documents to the NNA, although not all states allow this.
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Each state has different requirements for what tools and supplies you will need to purchase to get started as a notary public. The main tools are your official notary seal (or stamp), certificates of recognition, and a notary journal to help you keep a clean record of all notarial activities.
If you have not yet received the necessary stamps at this late stage, check your state’s website for information about your notary kit.
After all is said and done and your official notary stamp arrives in the mail, you can use your commission as much as you like during the term.
Having a notary commission can give you a nice boost to your salary for that cushy bank job you’ve always wanted. Or you can use it independently for a side gig or business, much like Snedeker does.
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If you plan to work as a freelancer, there are a few things to keep in mind to make your notary business profitable. Namely, competition.
Many businesses engage in general notary work (GNW) for the community. UPS has notaries on staff. Banks usually offer free notary services to their members, and there are likely other independent notaries in your area.
Snedeker learned this early. Thus, he became a so-called notary agent specializing in notarial services in the field of real estate.
And an added bonus: Signing agent services are not subject to the same pricing regulations as GNW. Depending on the documents involved, Snedeker can charge anywhere from $75 to $200 per signing.
Six Ways To Make More Money As A Notary Public
Whether it’s filling out Hancock’s medical forms at hospitals or closing real estate loans on the go, “picking your niche is really important,” he said.
Adam Hardy is a staff writer at The Penny Hoarder and Grace Schweitzer is an email content writer at The Penny Hoarder. Thanks for stopping by and learning about five ways to make more money as a notary public. We deal with hundreds of notaries a week, and almost all of them are looking to expand their business. Therefore,
This listing is a great way to expand both your business and your services.
Here is the cold hard fact. Businesses will need mobile and remote notaries. So being prepared and able to do both is a really good idea.
What Is A Notary Signing Agent?
Cut any way you like. Your customers will need both, so you should probably do both.
Some may think this will be annoying to those you send it to, but I think it’s a good way to keep your name in the mind of the recruiters.
I have notaries emailing me once a week if not more just to let me know they are available for signing. Some even call me and ask if I have anything in their area. When they do, I know they want to work, and if I need a notary near them, their name is in the back of my mind and I’ll likely call them first.
Go online and search for title companies and underwriting services. You should try to make a habit of making at least 5 new calls a day. If you repeat this practice every day and stay consistent, you will find that it is very effective. All you have to do is ask who does notary planning for closings and ask how you can be added to
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