Real Estate

Notaries in BC not doing full disclosure of fees how to deal with them ?

  • Last Updated:
  • Jan 24th, 2019 7:12 pm
[OP]
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Sep 8, 2008
235 posts
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Vancouver, Canada

Notaries in BC not doing full disclosure of fees how to deal with them ?

I am doing a mortgage transfer transaction from one bank to another in BC. I approached some of the Notaries and asked about the cost of notarization it will be to me. Remember in legal terms, I am asking "Cost" to do notarization of transfer. Here is what I get quote as of January-2019

Notary 1: "Total cost would be around 950 incl taxes and disbursements"
Notary 2: "585 for fees" and Disbursements.
Notary 3: "925 and disbursements"

Now note that no notary in BC is ready to give me definition of "Disbursements" I was able to reach to one of good one (but bit expensive) and according to them disbursement include "title search, land title office fees, insurance binder, title insurance" but may not include Form B fees.

Now, I ended up with a Notary attracted to their lowest fee of "$585" and it costed me after calculating cost of Notary fees, Disbursements, Strata Form, Insurance binder and Land title for about $1077 after taxes and fees which is close to 50% higher than what they quoted me. When I inquired with them why such a huge difference I got the reply that "As for tax, strata, fire insurance those are not quoted in our fee’s because we don’t determine those fee’s as they are based on each particular property and the companies that your strata use as a requirement of the bank. Therefore those are separate."

Now I am quite frustrated and feel that Notaries in BC just like other agents are just rip off. I am sorry if you are a Notary but I feel cheated because what you quoted me was just 50% of your price as to what you finally billed me?

Can some expert throw light on these weird fees? Shouldn't they be doing full disclosure of the fees before quoting to their client? Where does regulation plays role in this?
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1 reply
Deal Addict
May 16, 2017
1426 posts
1779 upvotes
perfectcritic wrote:

Can some expert throw light on these weird fees? Shouldn't they be doing full disclosure of the fees before quoting to their client? Where does regulation plays role in this?
You've gotta be clear on what you and the notary mean by price, cost, fees, etc. The notary charges for THEIR work and then flows through all the costs for (as you list) Disbursements, Strata Form, Insurance binder and Land title. They are also going to likely charge you for every copy of every official document they make for you or are required to make for banks, insurance co's, strata management etc.

Can you provide a breakdown of the Notary's invoice? As it isn't clear what is in and out in your comparison.

"Disbursement" effectively means any amount paid by the Notary to another party.

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