Days have passed, and you still haven’t come across an available job position. You need more money, and you are running out of time. Luckily, a friend of yours calls you and says he’s got a great job opportunity for you.
A notary is that person who works in an office and who has the authority to perform some legal formalities, like draw up or verify some important contracts.
If you have been considering this job opportunity lately, this article will provide you with all the necessary information about working as a notary as a side job, the pros and cons of being a notary, and how much cash you can earn from this.
So, prepare to note down some facts!
Is Being A Notary A Good Side Job?
Yes, this is a good solution for a side job. If you have been in the loop for some time, this job doesn’t require a bunch of pre-work, and it has flexible working hours.
The best thing about starting this job is that you can schedule signing the documents in the evening hours or even during weekends if you are obliged to spend morning to noon on your regular job.
To begin this job, you don’t need any special diploma or years of educating yourself. You can become a notary by just finishing a certain course and passing the exam. After you have done this, the stage is all yours!
You won’t even need a lot of money for starting this job. You will have to pay for the registration fee, surety bond, and a notary stamp. This will cost you about $200 maximum.
A Day In The Life Of A Notary
As we said before, a notary is responsible for signing a lot of documents and contracts that come his way: from deeds and licenses to affidavits and insurances.
A notary is responsible for creating a trustworthy environment between the parties that have agreed to do business together – so a notary is some kind of a public official.
To become one, you need to go online and check for notary requirements because they can vary from state to state.
Next on the list of requirements is an exam that you need to pass, of course. In the USA, a notary must pass an online test, and if it goes well, all he needs to do is pay the registration fee, which is close to $100.
Of course, since you will be dealing with legal matters, you can’t have a history of convictions and felonies.
Signing documents and using the notary stamp is not the only thing this job is about.
Notaries are also responsible for:
- Identifying fraud
- Affirming the state of mind of parties in the contract
- Bearing witness to documents and storing them somewhere safe
- Keeping a journal notary all completed work
- Administering of oaths
- Taking care of affidavits and statutory declarations
- Dealing with marriage certificates, loan documents, etc.
What does a notary do on a daily basis?
- First, he verifies the person’s identity whose legal document he is signing, either by an acquaintance or personal documents.
- He makes sure that the parties which are a part of the document understand it in full.
- He identifies the person signing the document as older than 18 and can enter into a binding agreement.
- He verifies that the signers of the document are willing and capable of going through with this procedure.
The Advantages And Disadvantages Of Being A Notary
Every job has its ups and downs, and neither of them should be ignored. Let’s look at the pros and cons of being a notary as a side job.
- It is easy to start – you don’t need to have a degree. The only requirement is that you are older than 18.
- Flexible schedule – You have the power to decide when you will sing and verify the documents. This can take place during the evening hours or even weekends.
- Profitable part-time job – You choose how much you commit to something like this.
- Decent salary – A good notary can earn up to $200 per hour.
- Tax benefits – You are not subject to self-employment taxes.
- Limited earning potential – You need to be aware that this will not make you a fortune.
- Few long-term clients – You will have just a few faces that will stick around for a long time.
- Extra expenses – You are responsible for office supplies, car gas and similar.
How Much Does A Notary Earn?
When looking for a job, we are all looking for a decent amount of money. This job certainly pays off, but this depends on how much you charge for signing and verifying.
Let’s assume that an average signing appointment goes between $100 and $150 – and this is for someone who is a part-time notary.
With $100 per appointment, you will have somewhere around $2,000 a month.
For someone who is a full-time notary, he will do 15 signings in a week, and that will leave him with about $6,000 after a month’s work.
Here’s another fact – The median per capita income, according to the US Census Bureau, is a little over $31,000. Wow!
How Can A Notary Earn Some Extra Cash?
- Why not earn some extra cash if you can? Here are some helpful tips for notaries who are looking for some extra money.
- Get a Signing Agent Certification – A Signing Agent is responsible for mortgage and death signings, delivering settlement checks, etc. You can complete this training through online courses, self-study manuals, or even live seminars. Once you pass the exam, you will be listed as a Certified Signing Agent.
- Build your clientele – Create a website, promote yourself, call some old clients to help you spread the word, pass on some flyers, or even organize some seminars.
- Protect yourself from notary public risks – if you are unlucky, you will be in danger of facing a very expensive lawsuit. So, to save your business, it would be ideal for running a specific E&O Insurance quote.
Is Being A Notary A Good Side Job – Conclusion
So, you have been looking for a side gig which will make you some extra cash, and you come across an available position as a notary. What is it that this person does? A notary is that person who was the authority to perform some legal formalities, like draw up or verify some important contracts.
If you decide to become a notary, the path you have to take will be easy. First, you have to go online, check the requirement, pass the exam, and finally pay the registration fee. That’s it. Of course, you can’t have anything in your policy file, meaning no previous convictions or felonies.
A notary does not just sign and put stamps on documents. He is also responsible for: identifying fraud, affirming the state of mind of parties in the contract, bearing witness to documents and storing them somewhere safe, keeping a journal notary of all completed work, administering oaths, etc.
Like every other job, there are some pros and cons. A notary has a flexible working schedule, tax benefits, an easy start, and a decent salary. On the other hand, there is a limited earning potential, a few constant clients, and some extra expenses.
A part-time notary can earn up to $2,000 and a full-time notary $6,000 per month.
If this isn’t enough for you and you are looking for some extra cash, you can certainly earn some by getting a Signing Agent Certificate, building up your clientele, and protecting yourself from some unnecessary risks.