Posted by Angela Simon on 4/16/05 8:05pm
Msg #32255

Title Abstractor

I would like to know if anyone has information on how to become a title abstractor. I see alot of companies needing title abstractor. I would like to know the process and requirements on becoming a title abstractor.

Reply by BrendaTX on 4/16/05 8:13pm
Msg #32257

Angela, I have taken an online course which was enlightening, but it is not enough to learn about abstracting. You really should be taught by on the job experience, IMHO.

That means by working for an abstractor. But, that's just my opinion.

I got a call the other day to do an abstract job and I told them "if you want me to go pull a specific record, or look up specific things-no problem, but I am not insured for the job as an abstractor to do a 50 year chain." She thanked me for my honesty and said she needed an insured abstractor.

Try http://sourceoftitle.com for more info.

Best wishes. Brenda

Reply by Sylvia_FL on 4/16/05 8:17pm
Msg #32259

I have often seen this book recommended, but can't tell you much about it. But it is worth checking out yourself.

http://anytimeservices.com/Sales.htm

Also, if you put "title abstractor' in a Google search, there are some sites come up which may prove useful.

Sorry, can't be much more help. I have never thought of doing title searches etc.

Reply by ssnotary on 4/16/05 11:11pm
Msg #32277

Sylvia you are such a great source of information and first class in your responses.

Reply by Sylvia_FL on 4/16/05 11:41pm
Msg #32281

Thank you. I remembered seeing this recommended quite often, but obviously as I haven't read it myself, I really have no first hand knowledge of its worth.

Reply by Shannon_Va on 4/17/05 3:35pm
Msg #32343

I have been a title examiner for 14 years. I have trained many, managed offices and now have 2 companies of my own. I would NEVER hire anyone withour 3 years experience, unless I was to train them from scratch.
There is not as much money in it as you think. We see on our closing HUD a fee from 100-200 for the title abstract/search but you are lucky to get $50 for a refi search.
Don't get me wrong, I love my job. But to start out and need to be trained to do it, you can expect an entry level salary of about $20-24k a year on average on the east coast. Plus some benefits depending on how big the company is.

You CAN NOT learn to search from an online course. THey are not state specific. And every county within a state is totally different as well. You need to be trianed hands on. For at least 3 months to a year depending on how fast you pick it up. And after a year, you still really are not able to work for yourself. Of the 3 major E&O companies around, they require 3 years experience before they will even insure you. And to get clients, you need E&O.

Sorry for the grim facts. Check out www.sourceoftitle.com which has a message board also. This site is where abstractors talk alot about issues. Read thru it and get some ideas about what others have said to those wanting to get in to the business of searching titles.