Save Notary Charges on Closing Costs

The notary cost can run to $300 to $400 on a closing statement. There are ways to reduce this cost. Close at the Title or Escrow office usually those closings don't charge for notarizations. Demand that your documentation package is sent to you and and you find your own notary. If there are 4 documents in the package that need to be notarized the most that a notary can charge is fixed by the State you live in, In California the most that a notary can charge is $10 per signature. In many other states its a lot less. The most expensive form of notarization is having the notary come to your home to notarize. The notary for a single purchase closing will charge about $100 to $125 to come to your home to close but the escrow/title company will use a signing service which will charge and additional $100 to $200 to find a notary and then the escrow/title company charges for locating the signing service.

If you decide to find your own notary, make sure they are familiar with signing mortgage documents. An inexperienced notary will make the signing more time consuming and could create errors and a resign.

Saving money on notary fees can be taken a step further when you tell your loan officer to use the same title company who closed your previous mortgage or refinance, thereby reducing escrow, title insurance and abstract fees and reducing your overall closings costs during a refinance.

The more experienced the notary, the smoother the closing. Make sure you bring a list of questions you may have to closing in order to save time.

Notorization requirements vary from state to state.

» DISCLAIMER: The information contained in this article on 'Save Notary Charges on Closing Costs' is a collection of contributions by licensed mortgage professionals and is not the opinion of Broker Outpost LLC. Always consult a licensed professional before applying for a mortgage.