5,230,148
I am in an attorney state so, their fees are a separate line item. Never heard of Closing costs being anywhere near 10% of sales price though - that seems excessively high - at least 3 times normal here.
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Jerrill Ewing
Eatonton, GA
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Kathleen Daniels, Prob...
San Jose, CA
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Clay R. Seay
Saint Augustine, FL
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
1,196,798
In MA we use attorneys and as such there is a separate line item on the CD
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Kathleen Daniels, Prob...
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Olivia Mosley
Phoenix, AZ
3,416,038
We do things a whol elot different in NH. We use closing or title companies. The company has to be owned by a lawyer, but does not have to have a lawyer conduct the closing. The closer is a notary who witnesses all signatures. Our buyers and sellers attend closing. When you sign, it then funds and the buyer gets keys and the seller gets a check on the spot. Closing costs here are usually about 5% of the loan amount.
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Debe Maxwell, CRS
Charlotte, NC
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Olivia Mosley
Phoenix, AZ
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
1,503,028
Olivia,
I'm in California. Notaries here are ordered by escrow and they get their own line item on settlement statement. Both parties have notaries and pay their own fees. The principals can also get their own notary, go to notary themselves (no travel fees involved) or they may be able to get it done for free at the bank (depending on the bank and their account level).
Edit: A little further clarification on travel fees for notaries. In California notaries may only charge a set rate per notarized signature (it was raised last year to $15, used to be $10). That amount is set by state law. If the notary travels, they can charge a travel fee, which they have full control over but should be discussed with the client ahead of time to avoid surprises.
So as a former notary, if I drove to you I could charge a travel fee (like a service call fee from a plumber) plus $15 per notarized signatures (regular ones are free). If you came to me, I could only charge the $15 per signature.
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Doug Dawes
Topsfield, MA
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Michael Jacobs
Pasadena, CA
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Debe Maxwell, CRS
Charlotte, NC
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Olivia Mosley
Phoenix, AZ
2,781,303
Notaries are like a fact of life.....
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Olivia Mosley
Phoenix, AZ
5,217,381
Sometimes a separate line item and sometimes absorbed in a closing fee. Different strokes for different folks.
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John Juarez
Fremont, CA
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Olivia Mosley
Phoenix, AZ
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Doug Dawes
Topsfield, MA
6,393,609
Not something we worry about here, generally a notory at the title company or bank where we close to do this for us.
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Doug Dawes
Topsfield, MA
4,581
Thank you for answering that to dig a little bit deeper when escrow assigned the fee which I see is in the closing costs how do they get that amount. I typically see it fluctuate from $90-$500 and in all honesty it's never disclosed how they get that amount so I'm wondering when closing costs are put together in escrow Is it random by escrow by affordability.
So I'm in the process of choosing like an underwriter and a bank and I am getting together my closing software I haven't decided if I'll be using Qualia or Tesware but when we were going through the training and I understood everything but again I was like so where does the notary fee come from, How was the amount generated if The loan was buyer or seller how would I suggest the notary fee.
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Olivia Mosley
Phoenix, AZ
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Doug Dawes
Topsfield, MA
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Bob Crane
Stevens Point, WI
3,345,221
Olivia, From your own comment on this post - you get the notary fees from the notary and those fees are plugged into the software. In CA we have statutory fees. If travel fees are charged, those fees are also obtained by the notary. Due to COVID most all of our sign-offs are being done by mobile notaries because the title company is closed to the public.
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Debe Maxwell, CRS
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
135,724
closing costs are no where close to 10% in Georgia. And no seperate fee for notary because we're an attorney state. They notorize documents as part of their attorney fee. (we also do not have title companies in GA)
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Debe Maxwell, CRS
Charlotte, NC
1,311,772
The notary fee is on a separate line and is paid to a third party...the notary.
I agree that closing costs of 10% is high compared to what I normally see.
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Debe Maxwell, CRS
Charlotte, NC
417,221
There is no rule about a percent of the purchase price in any state in the US. Lender fess are disclosed many times during a transaction and buyer signs and accepts at start (before 3rd day) again when they lock maybe again when they change something then again a closing disclosure and finally at closing. Notary in all the states for mortgage is about $150 as there are 180 pages. I have seen notary fee as high as $250 when there were 6 borrowers at two locations and they had to be done after 10PM Notary fee is not accumulated- call me I can help decipher the details. If you are looking to find more business find out who the busiest escrow is in your drive area. If they tell you the notary is a relative, go on to the next one.