Signing with a mobile notary

Should you sign with a mobile notary - image of people, paperwork, penWhen it’s time for your final document signing prior to the close of escrow or refinance, is signing with a mobile notary better, or should you do it at the title company? These aren’t papers that you can DocuSign – they must be done in person.

What is a mobile notary?

A notary, or notary public, is someone who can check your identification and verify that you are who you say you are. A mobile notary public, usually called a mobile notary, is someone who travels. They come to you.

Quick summary

  • You often have a choice about signing with a mobile notary,  or signing at the title company.
  • Be aware that in most cases you will pay a little more in closing costs if you elect to sign remotely.
  • Some lenders and title companies may nudge you to using an out of office signing and may have built that fee into their closing cost estimates for you, but it is optional, not mandatory!
  • Even if you sign at the office, you may not get the escrow officer but still have a notary and still have an extra charge. Or just a higher fee than at other title companies for this service. Different title companies have different fees and policies.
  • Best bet is to call the title company and ask if the fee will be less if you sign at their office.

During most of Covid, home buyers and sellers did not have a choice about where to do what we call a signoff: title companies did not allow signings in their office for most of the pandemic. Instead, buyers, sellers, and refinancing home owners would meet with a notary, often outdoors, to sign documents prior to the close of escrow or completion of the refi.

At the beginning of the pandemic, and for about the first 18 months or so, Realtors were not permitted to attend the signoff. We are now, though.

Fewer restrictions, title company office signing is now permitted

Now that things are opening up, consumers have the ability to sign at the title company in nearly all cases. A mobile notary remains an option, and may be preferable for you, but make sure that you are informed so that you are making a choice with all the factors on the table. (As of October 2022, if the Covid pandemic worsens again, this could change.)
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What are typical buyer closing costs in Silicon Valley?

Typical buyer closing costs - home buyer costs to close escrowWhat are typical buyer closing costs in San Jose? How much extra money will it take, beyond the down payment, get into that new home in Silicon Valley? The cash needed at the closing table varies depending on many factors.

Today we will offer some general information on home buyer‘s closing costs in Silicon Valley. Different jurisdictions and situations may have additional closing fees.

Typical buyer closing costs – rough estimate

Just need a rule of thumb on the costs? The average closing costs percentage is between one half and two percent of the purchase price, but your actual figure could be substantially more or less, depending on many factors. Most of our buyers pay between .5% and 1%. 

 Recurring versus non-recurring closing costs

Please note that some fees will be recurring (meaning they will be things you’ll pay again, like property taxes or HOA bills) and others non-recurring (which are one-time fees like title insurance). Where you are in the calendar year can impact fees like property taxes due at closing, too.

Some of the main factors that cause the fees due at closing to rise or fall include:

  • loans and related required fees are generally a home buyer’s steepest fee after the down payment
  • home buyers who buy down the interest rate with points will see their cash needed to close escrow rise significantly
  • whether or not you pay for inspections
  • what city you’re buying in
  • what type of home, or if it’s in an HOA or not
  • and many other smaller escrow related fees, such as if you both fund the loan and close on the same day
  • any pest work or other repairs that you pay for on the home prior to the completion of the sale (this is uncommon, but I’ve seen it happen)
  • when the next property tax bill is due (you won’t pay more or less, but it’s whether that amount is due at closing or a few months later)

There are online tools that can bring clarity to the typical buyer closing costs, but again only roughly. You will find a closing costs calculator for buyer at ORTC.com, the Old Republic Title Company’s site, and then click on the link for the online netsheets. Or use this link for their online netsheets.

Next we’ll go over what these various typical buyer closing costs can run.

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