What is the function of preferred notaries?
Settlement Agents who close real estate transactions, such as Title Companies, Escrow Companies and Attorneys, often need mobile notaries to witness borrowers’ signatures on loan documents. 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. Clients using a specialist notary rely on them to protect their reputations as a closing professional by looking after them at this stage of development.
It is therefore vital to use those notaries that will look after the reputation of the company that employs them, and that of the client being served.
So, beyond the basic capability of notarisation, what do you look for to effectively satisfy any customers’ signing needs?
The Preferred Notary knows her role and is happy with it. It is important that the borrower perceives that the notary is a neutral party, outsourced by the estate agency. The notary signing agent is therefore the purpose of making sure the borrowers are properly identified and the loan documents are properly executed.
The Preferred Notary role has evolved 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. Normally the other professional are available to help to satisfy any of the client’s demands.
If you are looking for a reliable practitioner within the trade, I would recommend looking in the phone book under personal law, or ‘solicitors Crawley’ and selecting Bennett Griffin.
February 01 2010 02:39 am | Real market
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