Price, turnaround time and accuracy are the three pillars of title work. I have several clients who use multiple searchers in my county because of their volume and what if one searcher is sick, on vacation, etc. Each searcher has a different fee structure, and the cheapest isn't always the first to get work. Accuracy and Turnaround Time seem to be priorities.
Several title agencies have recently contacted me to do their work. Their first concern is, again, turnaround time. Historically, companies have required a 24-hours TAT for last owner searches. No problem. However, the industry is now pushing for a two-day TAT for sixty year searches. Great, if I have one or two. No, if I have ten. The shorter TAT is a marketing tool (Look How Fast We Deliver!) even when it isn't necessary, since loans won't be processed that quickly.
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