‘BECOME A NOTARY SIGNING AGENT’ ‘MAKE BIG BUCKS BEING A NOTARY’, the headlines blare on the web-searches. I thought this looked like an interesting way to make some extra money to help reach my goals.
I went to my state website and learned how to become a notary. I began accepting notary work from lenders and meeting with borrowers in their homes. I enjoyed doing this, as it gave me a short reprieve from my children in the evening.
This is highly irregular work, and often takes 30-90 days before you receive payment. The other frustrating part is that many of the signing agencies often choose not to pay you and you have to start collection proceedings with them.
I have found that it works well to first complain to the Better Business Bureau, as well as sending a note to the signing agency stating that you will be contacting the Title/Escrow Company and Lenders directly for payment.
Although I actively look for work in this industry and have for about 2 years I average about 2 appointments per week. Far from the income claims of the ads. It really makes a difference in what area you live in. Some of the ads say you make from $50-$200 per signing. Most companies are wanting to pay $40 – $50 only per signing.
In all honesty you can be trying to download and print large document packages for 30-40 minutes while calling the borrowers to apologize for being 2 hours late because the packet wasn’t sent to you. This is probably your 3rd or 4th call by this time and can be frustrating and embarrassing.
The other concern is how you feeling going into strange houses in the evening hours. It is rare that I go to an appointment that does not have at least 1 pet, often several more. I am also a nonsmoker, and it can be very difficult to sit through a 45 minute signing while someone is smoking.
I count on about $200 per month from this source of income in my area.