When buying your dream home, there’s a lot to understand about homebuying and a lot of jargon to sort through. For example, what’s the difference between a notary and the notary signing agent? They might sound similar, but these two roles are actually quite distinct. Let’s clear up what a notary signing agent — also known as a loan signing agent — really is so you can buy a home with confidence.
Let's first understand, “What’s a notary?” to help clarify the difference between these two positions. A notary is an impartial witness authorized by the state to perform certain legal functions, including the verification of identities, administration of oaths and certification of documents. Their primary purpose is to help prevent fraud and ensure that legal documents are executed properly.
So, what is a notary signing agent? A notary signing agent, or loan signing agent, is a specialized notary who is trained and certified to handle and notarize loan documents. While they have all the skills and authority of a traditional notary, notary signing agents bring an extra layer of expertise to the table when it comes to handling loan-related paperwork.
This doesn’t mean, however, that every real estate transaction requires a notary signing agent. In some instances, a regular notary could be sufficient if there are legal documents to be authenticated but no loan documents to be handled. Notary signing agents simply bring additional understanding and expertise around transactions involving mortgages or other loan documents, but the needs and requirements of a particular real estate transaction may vary.
Now let’s learn a little more about the specific responsibilities of a notary signing agent in real estate transactions. Here are some of the primary duties of a notary signing agent:
As with a traditional notary, one of the core functions of a notary signing agent is confirming the identity of individuals participating in a transaction. In a real estate context, this could involve verifying the identities of both the homebuyer and the seller. By doing so, the loan signing agent helps prevent fraudulent activities and protects the interests of all parties.
Similarly, a notary signing agent is also responsible for witnessing the signing of loan documents, such as the promissory note, mortgage or deed of trust. Signing agents help ensure that all parties are aware of the contents and implications of the paperwork and are signing the documents willingly.
For example, during a home purchase, the notary loan signing agent would typically be present when the buyer signs the loan documents to help ensure the buyer understands the terms and conditions of the mortgage.
Making sure that all loan documents are accurate and complete can help avoid hiccups during real estate transactions. To do this, a notary signing agent will typically:
Once the notary signing agent is satisfied that everything is in order, they’ll notarize the documents. This seals the deal and helps pave the way for a successful real estate transaction.
Locating a reliable notary signing agent is an important step in any real estate transaction. Here are some potentially helpful tips and considerations for finding a notary signing agent:
There are a few places you could source an in-person notary agent. In all cases, there will likely be costs associated with hiring a notary signing agent. These costs may vary depending on the services required and other specifics of your transaction.
Remote online notarization (RON) has as an alternative to traditional in-person notarization, especially after increased remote work and digital transactions. With RON, you can connect with a notary signing agent through a secure video conference, allowing you to complete the notarization process remotely. Here are a few helpful tips for finding the right RON provider:
In a nutshell, a notary signing agent in real estate is a specialized notary who is certified to handle mortgage documents in real estate transactions. A notary signing agent or loan signing agent verifies the presence and accuracy of all necessary documents, that all parties understand and consent to the transaction and that all required signatures are made. As you embark on your homebuying adventure, remember to do your research to connect with a qualified and reputable notary, be it in-person or remote, to ensure your documents are handled effectively and responsibly.
