If you’ve ever needed to have a document notarized or been involved in a real estate transaction, you may have come across the terms “notary public” and “signing agent.” While these roles share some similarities, they serve distinct purposes and have unique responsibilities. For Texans navigating legal documents or real estate deals, understanding these differences is essential. This guide will help you make informed decisions when comparing notary public and signing agent services, ensuring you know when to seek each professional.
What Is a Notary Public?
A notary public is a state-appointed official authorized to act as an impartial witness during the signing of documents. Their primary role is to deter fraud by verifying the identities of the signers and ensuring that all parties are signing willingly and with full understanding of the document’s content.
In Texas specifically, notary publics are commissioned by the Secretary of State and can perform a variety of notarial acts, including:
- Administering oaths and affirmations
- Taking acknowledgments
- Certifying copies of documents (excluding public records)
- Witnessing signatures on important documents
Some common documents a notary public may handle include:
- Power of attorney forms
- Affidavits
- Wills and trusts
- Contracts
The notary’s job is to ensure that the document is signed under legitimate circumstances. However, they are not allowed to provide legal advice or explain the contents of the document – they simply verify the signing process.
What Is a Signing Agent?
It can be tricky comparing notary public and signing agent services. A signing agent, also referred to as a loan signing agent, is a specialized type of notary public. While all signing agents are notaries, not all notaries are signing agents. Signing agents receive additional training and certification to handle loan documents and real estate transactions.
Their primary role is to facilitate the signing of mortgage loan documents, ensuring that borrowers sign and initial all required areas correctly. They also guide borrowers through the documents, explaining their purpose – but they are prohibited from offering legal advice or interpreting the terms of the loan.
Some loan documents that signing agents typically work with include:
- Loan applications
- Closing disclosures
- Deeds of trust
- Promissory notes
Signing agents play a critical role in the real estate industry, bridging the gap between lenders and borrowers. They ensure that the loan closing process runs smoothly and that all paperwork is completed accurately and submitted on time.
Key Differences Between a Notary Public and a Signing Agent
While notary publics and signing agents share some overlapping responsibilities, their roles differ significantly in terms of scope, training, and specialization. Here’s a breakdown of the key distinctions when comparing notary public and signing agent services:
1. Scope of Work
- A notary public performs general notarial acts, such as witnessing signatures on various legal documents, administering oaths, or certifying copies. Their work is not limited to any specific industry.
- A signing agent, on the other hand, specializes in loan and mortgage documents. They work primarily in the real estate industry, assisting with loan signings and helping borrowers understand the paperwork involved in property transactions.
2. Training and Certification
- Notary publics require basic training to understand state-specific notarial laws and procedures. In Texas, for example, a notary must be at least 18 years old, a resident of Texas, and complete the application process through the Secretary of State.
- Signing agents must complete additional certification and training to handle complex loan documents. They often take specialized courses provided by organizations like the National Notary Association (NNA) to learn about real estate transactions, compliance, and borrower confidentiality.
3. Industries Served
- Notary publics work across various industries and assist with a wide range of documents, including legal, medical, and business-related forms.
- Signing agents primarily serve the real estate and mortgage industries, working closely with lenders, title companies, and escrow officers.
4. Level of Expertise
- Notary publics are generalists who perform straightforward notarization tasks. While their work is essential, it does not require in-depth knowledge of specific industries or documents.
- Signing agents are specialists who need a deeper understanding of loan documents, mortgage processes, and industry regulations. Their expertise ensures that real estate transactions are completed accurately and in compliance with legal requirements.
5. Cost of Services
- The fees for notary publics are typically low and regulated by the state. In Texas, for example, notaries can charge up to $6 for standard notarizations.
- Signing agents charge higher fees due to their specialized skills and the complexity of loan closings. Their fees can range from $75 to $200 or more, depending on the transaction.
When to Seek a Notary Public vs. a Signing Agent
Knowing when to hire a notary public versus a signing agent depends on your specific needs.
- Hire a Notary Public If: You need a general document notarized, such as an affidavit, power of attorney, or contract. Notary publics are the go-to professionals for straightforward notarization tasks that require impartial witnessing.
- Hire a Signing Agent If: You’re involved in a real estate transaction or need assistance with loan documents. Signing agents are best equipped to handle the complexities of mortgage closings and ensure that all required paperwork is completed properly.
Why Understanding the Difference Matters
Understanding and comparing notary public and signing agent services can save you time, money, and stress. By identifying your needs and choosing the right professional, you’ll ensure that your documents are handled correctly and efficiently.
For example, if you’re closing on a home in Texas, hiring a signing agent can streamline the process and help you navigate the mountain of paperwork with ease. On the other hand, if you just need a single document notarized, a general notary public will suffice.
In Summary
When comparing notary public and signing agent, the key differences lie in their scope of work, training, and specialization. While both play crucial roles in authenticating documents, signing agents bring additional expertise to real estate and mortgage transactions.
Whether you’re finalizing a legal document or closing on your dream home, knowing which professional to hire ensures that the process is seamless and stress-free. In Texas, both notary publics and signing agents are invaluable resources, each serving a unique purpose in safeguarding the integrity of your important transactions.
Choose wisely, and let these experts provide the peace of mind you deserve! And remember, Notary Jane can help you find both in your area.
If you have enjoyed this blog comparing notary public and signing agent services, consider “10 Notary Myths You Never Thought You Needed to Know”.