What is a real estate notary?

Once you reach the closing stage during the home buying process, you may feel like you’re home free. But closing is a very detailed process, and if the paperwork is incorrect or missing dates or signatures, it could jeopardize your home purchase.

There are multiple parties involved in the closing process, and they all have different roles. Many title companies will use a real estate notary to facilitate the home close. This article will explain more about what a real estate notary is, what they do, and how you can find the right one for your closing.

What does a real estate notary do?

A real estate notary – also sometimes referred to as a notary signing agent – is an individual who walks borrowers through all documents at their home loan closing. Most loan document packages include between 100 and 150 pages, and the title company requires many of these pages to have signatures, initials and dates.

A real estate notary might do any or all of the following:

• Print loan documents
• Walk buyers through documents, such as the deed and various affidavits, and ensure that buyers understand all of them
• Witness and acknowledge the collection of signatures, initials, and dates for identity verification
• Notarize documents as required
• Return documents for processing

A real estate notary has a duty to be impartial and not offer legal advice (unless they’re also a licensed attorney) or opinions on the loan itself. A real estate notary might fulfill their duties in person, remotely, or both, depending on the state and chosen signing process.

Notary public vs. notary signing agent

A notary public acts as a third-party witness to the signing of documents and can attest that all parties did so willingly. A notary public deals with a wide variety of documents, including wills, trusts, deeds, and affidavits.

In comparison, a notary signing agent specializes in home loan documents and is one of the parties involved in the process of buying a home. They also have a traditional notary commission and are required to pass a background check each year.

Some states may have additional restrictions that notary signing agents must follow. For instance, some states require that a licensed attorney must also be present. Some states also limit the maximum fees a notary signing agent can charge.

Why a real estate notary is important

When you’re closing on the purchase of a home, it’s important to involve a real estate notary. A real estate notary can help spot and discuss potential paperwork errors, meet legal and lender requirements, and prevent potential fraud due to oversight.

A real estate notary can also make sure to address any concerns about understanding the closing documents and help resolve legal issues that might come up. Having a trusted expert to help guide you through the closing process can increase the chances of keeping the closing on track and on time.

How to find a real estate notary

While lenders or title agents may have affiliated notaries they can recommend to home buyers, buyers can also choose someone else whom they trust and who will be available for the closing meeting. If you want to find your own real estate notary, you can search the National Notary Association directory to find a certified notary signing agent in your area.

Choosing the right real estate notary is critical when you're closing on your home. If the notary makes a mistake, it could put your home purchase at risk. If you use the NNA directory, you’ll know that anyone you find has gone through training, certification, and a background check with the NNA.

What to expect at your signing meeting

When you go to closing, make sure that you have all of the necessary documentation. You’ll need to verify your identity, navigate through documents, and sign papers. The notary will provide the Closing Disclosure, and stamp or seal documents. In an in-person closing, you’ll sign all the documents with paper and pen, while in a remote closing, all paperwork is signed electronically.

FAQ about real estate notaries

Here are a few frequently asked questions about real estate notaries.

Can a real estate agent be a notary?

Yes, a real estate agent can also be a notary signing agent, but there are some stipulations they have to follow. First, they must have their state-required notary license. Second, they cannot have a financial interest in the project. So, they can’t be the notary signing agent on a transaction where they are the buyer, seller, or agent representing either the buyer or seller.

How much does a real estate notary cost?

There may be several different notary fees that are included as part of the closing costs. Many states have a set notarization fee that can range from $5 to $25 per signature. Notaries may also charge an additional travel fee. All fees should be adequately disclosed before the closing ceremony.

What’s the difference between a real estate notary and an attorney?

A real estate attorney differs from a real estate notary in terms of their duties. An attorney can be a legal advisor and representative as compared to a real estate notary, who typically serves as an impartial witness for document signings. Some states require a real estate attorney at closing in addition to a real estate notary.

How long does the real estate document signing process take?

So you can know what to expect during closing, it’s common for the entire document signing process to take 1 – 2 hours. This time can vary widely due to the complexity of the transaction, your financing, the number of documents, whether you are the buyer or seller, and the time required.

What happens if the real estate notary makes a mistake with the closing documents?

While real estate notaries are experts in their field, it’s possible that there could be a mistake during the process. Mistakes might lead to issues like rejected documents, delays in the closing process, cancellations, or financial liability. This is why it’s so important to choose a reputable notary and address any errors promptly.

If you notice the mistake during the closing process, alert the notary right away. They can usually correct it or have the document signed and notarized again. If the mistake is not noticed until later, you should still notify the notary so it can be corrected.

The bottom line: A real estate notary plays a key role in the closing process

A real estate notary ensures that all documents are signed correctly. This can help you avoid unnecessary mistakes that could slow down the closing process or even prevent you from getting that new home.

Buying a house is a huge responsibility, but it doesn’t have to be complicated or confusing. Once you’ve learned the steps of the home buying process, take action and start your mortgage application with the Home Loan Experts at Rocket Mortgage®.