Matt,
When we asked abstractors to do work for us, we would send them an engagement package that they voluntarily filled out. You offered us the following;
Current Owner -40
Inst Lender -50
Recording -25
Contin -20-30
Deed -20
Mort Search -20
Deed/Mort-30
Judg/lien -20
UCC -20
Copies .50
The industry standard in your area is what it is. It does vary from place to place. If is simple to do, you may charge 40.00. If it is a difficult county to search in, the standard may be much higher. We did not routinely call abstractors to cut prices. In fact it would have been rare. I have actually had searchers offer me discounts of up to 25% to send them work. I have never accepted those offers because it is not fair. Rather than take an opprtunity to bash me, why not stick to the point. If all abstractors would have a spine and demand a fair wage for what they do, maybe we would all be better off. I dont see any attorneys offering rock bottom prices for their services.
I will give a classic example of what happens when abstractors stick together. All of the vermont abstractors know each other and keep their pricing high. They will, as a group, blacklist a bad customer. Marthas Vinyard...they all have high rates. These are just two examples of how we can stick together. Matt, I was just an independent abstractor in the early 90's. I searched in 54 counties. I know what its like to be in their position. Many companies have ruined the pricing structure that existed back then. I used to get 125-150 for a current owner. Now there are lowlife scrappers doing the work for 25.00. They only barely get by and have ruined it for everyone else. Sound familiar?
Rob
to post a reply:
login - or -
register