What is a Preferred Notary?


Who prefers them and how do they become Preferred?

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. Lenders, Builders and Real Estate Agents need good notaries as well.

Notary Signing Service owners, like myself, specialize in providing such notaries.

This small, but critical component of the real estate deal called the “loan document signing” is an art form commonly dismissed as clerical formality.

When docs need to be accurately signed 3000 miles away and returned by the next day, time is of the essence and the deal is on the line. My customers count on me to uphold their reputations as closing professionals by running that leg of the relay to perfection.

Therefore I select and dispatch only those notaries I prefer to protect my reputation as well as my customers. They are my “Preferred Notaries.”

So, beyond the basic capability of notarization, what do I look for to effectively satisfy my customers’ signing needs?

**The Preferred Notary knows their Role and is comfortable with it. They must be able to convey to the borrower that they are a neutral party, hired by an agency. The notary signing agent is there for the purpose of making sure the borrowers are properly identified and the loan documents are properly executed.

The Preferred Notary has learned NOT to play the role of the Real Estate Agent, Lender, Closer (Settlement Agent), Attorney, Title Insurer, Seller, or any other party to the transaction. 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. Often times the other professional is available to satisfy the borrower’s needs.

The Preferred Notary knows a rescheduled appointment is better than a bad one.

**The Preferred Notary is Experienced. Some people are comfortable with walking into a stranger’s house, all alone, and being responsible for the proper execution of legal documents representing debt of several hundred thousand dollars. Most are not.

The Preferred Notary is aware of the importance of the assignment, and has performed it many, many times faithfully. The players and situations change, yet the Preferred Notary grows professionally with each assignment. There is no substitute for this process.

Classes, Coaches, Certifications and other Business/Work/Life Experiences can enhance ones “success” rate in this area. However, more than once I have had to clean up after “well trained” notaries who just didn’t have several hundred signings under their belt.

Any professional worth their salt knows the cost of a botched signing is far more than the investment to find and hire a Preferred Notary.

Preferred Notaries have experience and the accumulated wisdom that goes with it.

**The Preferred Notary has a Strong Work Ethic. Simply put, some people have more productive work habits than most. This is especially evident in the realm of the self-employed.

The Preferred Notary is reliable by virtue of the fact that they are prepared for an assignment before it is received. They actively acquire the tools and knowledge to use them when the opportunity of an assignment (inevitably) comes along. Efficiency and timeliness are two hallmarks of a Strong Work Ethic.

Preferred Notaries require very little supervision because, once they accept an assignment, they follow it through to completion. This is especially valuable because human error is part of the real estate business like any other. Negative consequences and damages multiply when mistakes go undetected or are left unresolved. The transactions are large and liability is high.

Preferred Notaries always take care of business and do not leave loose ends.

**The Preferred Notary has Strong People Skills. Preferred Notaries are aware that we are interacting with people during some of the most stressful events in their lives. Relating to borrower’s circumstances, while remaining true to one’s role is something the Preferred Notary does very well. They ask questions, listen and respond thoughtfully.

Occasionally a lack of communication in the course of a deal is cause for a borrower’s concern. The Preferred Notary’s knowledge of the loan documents and the basics of the closing process will enable them to alleviate the borrower’s concerns most of the time. Otherwise, the Preferred Notary employs a concierge-like approach to tactfully direct the borrowers to the proper professional for resolution.

In conclusion, Preferred Notaries build a bond of trust. They deserve to be respected and thanked for ensuring something important… a positive signing experience!

Andrew Springfield is the founder and owner of http://www.RealtySignatures.com

Article Source: http://EzineArticles.com/?expert=Andrew_Springfield

Home Sales at Lowest Levels in Four Years


The National Association of Realtors reported another drop in existing home sales in May, a rate of sale not seen since June 2003.

In fact, some areas of the country, notably the north-east and north-west has seen a small rise in sales. Unfortunately, that means the stats are being pulled down by a disproportionate fall in sales in other areas, for instance, the south-west, and of particular relevance to us, of course, here in the greater Phoenix metropolitan area.

The main reasons for the regional differences are as follows; while housing growth was quite dramatic in the Pacific north-west, for example, it was largely driven by an underlying growth in the local economy. Such was not the case in Arizona. We fell victim to a confluence of circumstances; lots of new construction, lax lending requirements, and a booming national economy that made Phoenix, and its environs, attractive to non-resident speculators. The professionals moved in, and out, quickly but left the impression among amateur speculators that it was easy money. Many of these people are now left holding the bag.

Here in Phoenix we now have inventory at over 60,000 units representing, at current sale rates, an eight to ten month housing supply. Not a positive thing if you need to sell your home. What never ceases to amaze me, and I am sure it does you, is that they are still building thousands of homes throughout the Valley of the Sun. I have said this before but it bears repeating, developers that sold you a home in 2004 for $150,000 that now could sell in the secondary market for $225,000, can still build and sell an identical home for that earlier low price today. They will continue to price their new builds at, or below, what the market will currently bear, until their inventory is reduced.

The good news is that our economy here in Arizona is strong and tens of thousands of people are relocating to our great state each month. Ultimately, the housing market will return to some form of equilibrium, just not in the very near future.

If you need to buy a home you are in a good position; if you want to trade up to a larger home, likewise; if you have to sell (and I mean absolutely have to) set a reasonable price and they will come. If you need to sell three or four or more homes...well you're an investor, you'll think of something.

Gary and Shannon Kiernan are a husband and wife team licensed, respectively as a broker and sales associate, in both Arizona and California. We specialize in the Greater Phoenix area concentrating on Cave Creek, Carefree, Scottsdale, Phoenix and including Desert Hills, Anthem, Paradise Valley, Gilbert, Mesa and Chandler. To learn more about Gary and Shannon and Cave Creek, Arizona and the surrounding communities please visit our website at http://www.garizonaproperties.com or you may email us at skiernanc21@yahoo.com

Article Source: http://EzineArticles.com/?expert=Gary_Kiernan