« The Effects of Money | Main | Home Buying Predictions for 2010 »
Are notaries a waste of space?
By Billy | February 13, 2010
Settlement Agents who close deals on real estate transactions including, title companies, attorneys and escrow companies often require mobile notaries to witness the signatures on loan agreements. Others who regularly need the services of notaries are: lenders, builders and estate agents.
This small, but critical component of the real estate deal called the “loan document signing” is an art form commonly dismissed as a clerical formality.
When documents need to be accurately signed a great distance away and returned by the next day, time is of the essence and the deal is could be on the line. Customers of specialist notaries depend on them to uphold their reputations as closing professionals by representing them at this stage of the process.
It is most important, therefore, to use only those notaries that will protect the reputations of the client and the company.
Beyond the basic notarisation ability, what do you look for in a notary to satisfy the signing needs of the customers?
The role of the Preferred Notary is understood well by those who practice it, who feel comfortable with its importance. They must be able to convey to the borrower that they are a neutral party, hired by an agency. The signing agent, or notary, has the task of identifying the borrowers correctly and making sure that the execution of the loan documents proceeds without a problem.
The Preferred Notary role has developed away from other services within the process like estate agent, lender, closer or attorney within the transaction process. They defer to the expertise of the other professionals when borrowers ask about the terms, effects, financial and legal implications of the documents they are signing. The other professionals are normally available to help to sort the needs of any of the clients.
If you are searching for a reliable practitioner within the trade, I would recommend looking in the phone book under personal law, or ‘solicitors Crawley‘ and choosing Bennett Griffin.
Topics: Real Estate Investing |
Comments are closed.