Notary Fees: Types, Factors, and Cost-Saving Tips

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10 OCTOBER, 2024

A notary fee is the cost associated with selling or purchasing properties. The notary charges these fees to carry out the legal and administrative formalities required for finalising a real estate transaction. These mainly include the notary service cost (fee for the advice, services, and drafting of the notary deed, etc.), taxes payable to the state, and disbursements (sale-related costs on the client’s behalf). Since the notary prices may vary based on several factors, here are some key factors explained.

What are the Notary Fees?

Notary fees refer to the charges notaries impose for their notary service. These charges may vary significantly based on various factors, including the notary's location, the complexity of the notary act, and the type of notary document.

Notaries are legal authorities regulated by the state governments to charge fees for their services. Remember, notary fees differ from other costs related to a document, such as mailing and copying.

Factors Affecting the Notary Costs

Here are a few factors affecting the notary prices:

Complexity of the Notary Document: Notaries verify the signature’s authenticity and ensure a document’s legality. The more complex the document is, the more time and effort it will need for verification, resulting in a higher notary fee.
Types of Notary Services: Sometimes, individuals require notary services at their location and opt for mobile notary services. Such services have higher notary fees due to the notary's travel expenses and additional time and effort.
Notary Expertise and Experience: The notary’s expertise and experience also impact their fees. Experienced notaries with specialised knowledge in particular fields command higher notary charges.
Maximum Fees as per the State Regulations: State regulations often set maximum notary prices to protect citizens from excessive fees. These ensure fair compensation for notary services. Therefore, the maximum notary fees set by the state regulations impact the payable notary fees.

Different Types of Notary Fees Explained

Understanding the different types of notary fees is essential to ensure a hassle-free and smooth notarisation process. These include the following:

Basic Notary Fees: This is the basic fee charged for a notary document. The notary charges this fee to pay for the time and effort they spend in verifying identities, witnessing signatures, and affixing the notary stamp.
Travel Fees: Sometimes, the notary has to travel to the signer’s location for notarisation. This might be due to the signer’s physical limitations. In such cases, the notary charges an additional travel fee to cover their costs and time.
Copy Certification Fees: Notaries have to make certified copies of documents like passports, academic records, and birth certificates to verify the document’s authenticity. It carries the notary stamp and signature, which are chargeable.
E-Notarisation Fees: With technological advancements, e-notarisation has become increasingly popular. It allows electronic notarisation of documents without any physical visits. However, the notary may charge a small fee for digitally notarising the document.

Tips on How to Efficiently Manage Notary Costs

Here are a few tips to efficiently manage the notary costs:

Negotiate: Even if they are a minor part of the cost, consult multiple notaries to find the one who negotiates the fees.
Deduct the Furniture Value: If the property you are purchasing contains furniture, deduct their cost from the notary’s fees.
Deduct the Agency Fees: If you purchased the property through a real estate agent, the agency fee will not be a part of the notary fees. So, deduct it when calculating the notary prices.
Buy a New Property: The Notary fees for new properties are much less than for old properties. So, try to buy a new property rather than an old one.

Final Thoughts on Notary

Understanding notary prices and factors affecting notary fees can help make informed decisions about notary services. Whether it's document complexity, mobile convenience, or notary expertise, consider these factors to ensure availing of reliable and affordable notarisation services.

Read Also: What is MCGM Property Tax?

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FAQ’s About Notary Fees

How much does a notary cost in India?

Notary costs in India vary depending on location, document complexity, types of notary services, service mobility, and the notary's expertise and experience. So, compare them carefully to avail of the best services at affordable rates.

Where is the cheapest place to get a notary?

While notary service fees may vary, you may also get them free at some places. These places include the local banks where you are a customer. You may also visit a local government office to receive notary services for free.

What is a notarised stamp?

A notary stamp or seal is a confirmation to the court that verifies signatures on a legal document and ensures they are genuine and valid. It also indicates that no one forced the person to sign the document. It is a legal document mostly used for legal implications.

What is the meaning of notarised document?

Notarised document is a legal document that a notary public signs to make it legal or official. People often use it to sign and legalise a request or transaction.