Posted by jm on 6/19/07 7:21pm
Msg #195862

Title Abstractor

Has anyone done this type of work? I hear there is a market for doing title searches. How does one get into doing this type of work?

Reply by Loretta Reed on 6/19/07 7:27pm
Msg #195864

What market? Who told you that? I have been doing title searches for 11 years. It is more saturated than the notary business. You can go to www.sourceoftitle.com and click on the state/county you live in and find out exactly how many companies are doing title searches in that county.
You also have to have 2 years experience before you can get the $500k e&o insurance that most companies require you to have before you can work for them. Best thing to do is check your classifieds in your area and see if there is a title company hiring. A search that I have to drive 20 miles (one way), title companie are offering $35-$50. Not worth it anymore. If I had not been in the business as long as I have, I would not be where I am today. I have seen tons come and go.
Sorry to burst your bubble.
Oh, you can't take a class to do this. No matter what they tell you.

Reply by Ndwa on 6/19/07 7:35pm
Msg #195866

This is probably from a spam email by Certified Signing Agents.

Reply by Todd Atkins on 6/19/07 7:35pm
Msg #195867

I can't agree more. I know enough about the title business to know that it's really tough. I would spend time networking with someone you know at a title company and learn from them; or find someone who knows someone. You simply can't take a quickie course and be ready. It's far more sensitive than notary work.

Reply by Linda_H/FL on 6/19/07 7:43pm
Msg #195869

And there's a lot more liability attached to abstracting.

Reply by NCLisa on 6/19/07 8:10pm
Msg #195877

Title abstracting is far more complicated than signing agent work. The marketablility of the title falls on you. In most states you need to have liability insurance that runs about $1500 to $2500 a year. It takes years to get the hang of abstracting, and you will need someone (not online) to teach you the ropes. I've been doing it for years, another paralegal called me yesterday to stop by her office and help her out. We worked on a 30 year search together for 5 hours yesterday, trying to sort out which tract of land it originally came from. She has 25 years experience, and I have 17 and it was that tough a search.

And unlike NC, in most states, the abstractor is liable for their mistakes.

Reply by Loretta Reed on 6/20/07 10:02am
Msg #195966

Also, if I miss a mortgage or a judgment, I will be held financially responsible for paying the lien or mortgage off. That is where my insurance comes in. I have seen one couple here that lost their business and their home for being careless. I would never hire anyone to help me, even if they are experienced, if I miss something, I can only blame it on myself. After 11 years, I have not had one claim.

Reply by jm on 6/20/07 10:37am
Msg #195986

Thanks for all the great info!!!

Reply by Todd Atkins on 6/20/07 10:57am
Msg #195998

If you're really serious about jumping into this, find someone willing to spend time with you showing you how to do this. Take "simple" stuff first (if there is such a thing). Try to get experience doing city lot searches, not rural stuff. The splits on rural property go too many different directions. Many equity deals just want to verify the owners, whether taxes are current and what other liens are on the property. They used to be known as a tax and title search in Ohio. A local title company tells me they don't do those anymore.

Whatever you do, don't pay for any blasted course someone may be pushing. Every recorder's office is different and you have do dig through the books and plat maps anyway. This information is public record - go to the courthouse and do a search on your own house. Ask for help - that's what the clerks are there for. Get a feel for this work that way.