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Titlesearch USA, Inc. - . APS/NY
7/23/2008 9:38:01 AM (3913 views)
Re: Titlesearch USA, Inc. - Alix Ott/MI
7/23/2008 12:20:19 PM (3750 views)
Re: Titlesearch USA, Inc. - Robert Franco/OH
7/23/2008 12:25:29 PM (3821 views)

Certified Copies In Delaware - Robert Franco/OH
7/22/2008 1:29:46 PM (5159 views)
Re: Certified Copies In Delaware - george Hubka/MI
7/22/2008 7:14:40 PM (3534 views)
Re: Certified Copies In Delaware - STEVE MEINECKE/TN
7/22/2008 7:31:59 PM (3583 views)
Re: Certified Copies In Delaware - Robert Franco/OH
7/22/2008 9:48:38 PM (3477 views)

First American Document Solutions - Edward Huguenin/SC
7/21/2008 5:02:49 PM (5002 views)
Re: First American Document Solutions - Jessica Talley/NJ
7/21/2008 10:07:57 PM (4219 views)
Re: First American Document Solutions - Edward Huguenin/SC
7/22/2008 1:53:06 AM (4037 views)
Re: First American Document Solutions - Sandra Morton/KS
7/22/2008 5:15:19 PM (4001 views)
Re: First American Document Solutions - Theresa Ritz/WV
7/28/2008 10:04:34 PM (4266 views)
Re: First American Document Solutions - DebiLyn Carr/SC
7/22/2008 8:53:20 PM (4365 views)
Re: First American Document Solutions - Michael Vernon/AZ
7/28/2008 2:11:42 PM (3960 views)

Liability vs Fees per transaction - STEVE MEINECKE/TN
7/18/2008 12:46:54 PM (3581 views)
Re: Liability vs Fees per transaction - Robert Franco/OH
7/18/2008 1:48:28 PM (4009 views)

Clearly, abstractors have the highest potential for losses in relation to fees charged.  But, that whole system is skewed when you look at it that way.  Realtors probably have the least amount of liability and they have the highest fees of the bunch.  The only fee of those mentioned that bears any relationship to claims is the title insurance premium.  That is because it is the only fee that is specifically for insurance.  All of the other fees are for services performed.

Sellers find it worth the fees to have a Realtor find a qualified buyer and to get them the highest possible price.  Whether they are all worth the 6% commission is certainly debatable.  But, the sellers get to choose that for themselves. 

Surveyors are hired by the lenders, just as abstractors are hired by the title companies.  The fees that surveyors and abstractors charge are not based on the liability they incur.  For the most part, the fees are based on the time it takes to prepare an appraisal or title search, plus operating overhead.  I'm not sure about appraisers, but abstractors are traditionally short sighted when it comes to figuring their overhead.  They assume that if it takes them 2 hours to do a full search and they charge $100, they are making the equivalent of $50/hr.  Obviously, that is oversimplified and extremely inaccurate. However, the point is that abstractors price their services too low and the availability of cheaper services makes it much more difficult for some who would like to charge more to do so.

Abstractor's fees are based on market forces like supply and demand, not liability.  They are caught in a rut because there is too much competition among abstractors.  They do not have a strong lobbying group like the NAR to establish customary fees.  Nobody wants to be the first to declare their fees will be based on the purchase price, or mortgage amount.  The clients would find it much more simple to go to another abstractor who charges a fixed, lower fee and there would be many options available to them.

In short... the low fees are the fault of the abstractors as a group.  For the most part there is no regulatory body (except in a few states that regulate abstractors) that have anything to with establishing the fees.  Nor is there an organization capable of uniting the abstractors into a national fee arrangement. 

Best,
Robert A. Franco
SOURCE OF TITLE

 

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Re: Liability vs Fees per transaction - charles jetter/OH
7/30/2008 7:29:03 AM (3764 views)
Re: Liability vs Fees per transaction - Robert Franco/OH
7/30/2008 11:00:17 AM (3771 views)
Re: Liability vs Fees per transaction - Rob  Robinson/PA
7/18/2008 4:21:13 PM (3900 views)
Re: Liability vs Fees per transaction - STEVE MEINECKE/TN
7/18/2008 5:37:27 PM (3935 views)
Re: Liability vs Fees per transaction - Rob  Robinson/PA
7/18/2008 5:55:38 PM (3909 views)
Re: Liability vs Fees per transaction - STEVE MEINECKE/TN
7/18/2008 6:32:30 PM (3956 views)
Re: Liability vs Fees per transaction - Kevin Ahern/CT
7/19/2008 1:16:26 PM (3941 views)
Re: Liability vs Fees per transaction - STEVE MEINECKE/TN
7/19/2008 1:36:02 PM (3911 views)
Re: Liability vs Fees per transaction - David Robertson/VA
7/18/2008 10:04:48 PM (3818 views)
Re: Liability vs Fees per transaction - Diane Cipa/PA
7/19/2008 1:47:27 PM (3913 views)
Re: Liability vs Fees per transaction - STEVE MEINECKE/TN
7/20/2008 3:17:32 PM (3921 views)
Re: Liability vs Fees per transaction - Rob  Robinson/PA
7/21/2008 9:16:31 AM (3954 views)
Re: Liability vs Fees per transaction - Diane Cipa/PA
7/21/2008 1:20:17 PM (3793 views)

Stable Regions in The Midst Of Meltdown - David Bloys/TX
7/18/2008 12:27:01 AM (5065 views)
Re: Stable Regions in The Midst Of Meltdown - KELLY ROBERTSON/CA
7/28/2008 10:06:35 AM (3619 views)
Re: Stable Regions in The Midst Of Meltdown - David Bloys/TX
7/28/2008 1:42:14 PM (3962 views)




Title Express, Inc. - South Bend, IN - Jill Kissell/IA
7/17/2008 6:43:41 PM (3621 views)
Re: Title Express, Inc. - South Bend, IN - Joseph Killian/MI
7/23/2008 11:56:04 AM (3710 views)

Residential Title Services - Scott Aduddell/MO
7/16/2008 8:53:14 PM (3711 views)
Re: Residential Title Services - Jessica Talley/NJ
7/17/2008 7:03:25 PM (4157 views)

Non Payment - SYMPLE SOLUTIONS - Michelle Allen/GA
7/16/2008 3:53:14 PM (2987 views)

Nationwide Environmental Title Research - Bill Jones/NJ
7/16/2008 2:39:58 PM (4981 views)
Re: Nationwide Environmental Title Research - Elizabeth Helman/PA
7/16/2008 8:29:49 PM (4741 views)
Re: Nationwide Environmental Title Research - Ferlin Cosgriff/MI
7/16/2008 10:50:32 PM (4505 views)
Re: Nationwide Environmental Title Research - Ron McPherson/IA
7/17/2008 12:56:09 AM (4531 views)
Re: Nationwide Environmental Title Research - Theresa Ritz/WV
7/28/2008 10:06:05 PM (4459 views)
Re: Nationwide Environmental Title Research - Bill Jones/NJ
7/17/2008 6:58:31 AM (4436 views)
Re: Nationwide Environmental Title Research - john rutledge/VA
7/21/2008 11:11:27 AM (4522 views)
Re: Nationwide Environmental Title Research - GA Title Services/GA
7/31/2008 11:45:28 AM (4489 views)

Requesting Contact Information - Tim Prior/CA
7/16/2008 12:13:55 PM (3675 views)
Re: Requesting Contact Information - Edward Huguenin/SC
7/16/2008 12:59:06 PM (4421 views)
Re: Requesting Contact Information - John /FL
7/16/2008 1:01:05 PM (186095 views)
Re: Requesting Contact Information - Tim Prior/CA
7/16/2008 1:38:57 PM (4406 views)
Re: Requesting Contact Information - Becky Cantrall/NC
7/16/2008 2:56:16 PM (4397 views)
Re: Requesting Contact Information - Janis Talbot/SC
7/17/2008 7:20:02 AM (4224 views)

kudos to abstractor - Diane Cipa/PA
7/15/2008 10:38:48 AM (3257 views)

PA - bulk sales certificates - Diane Cipa/PA
7/15/2008 7:03:03 AM (3649 views)
Re: PA - bulk sales certificates-Question? - STEVE MEINECKE/TN
7/16/2008 7:12:12 AM (4455 views)
Re: PA - bulk sales certificates-Question? - Diane Cipa/PA
7/16/2008 9:45:35 AM (8022 views)
Re: PA - bulk sales certificates-Question? - STEVE MEINECKE/TN
7/16/2008 10:35:13 AM (4473 views)

Questionnaire from Archer Land Title - Kristi Lee/NE
7/14/2008 1:30:57 PM (3916 views)
Re: Questionnaire from Archer Land Title - STEVE MEINECKE/TN
7/14/2008 1:44:15 PM (4922 views)
Re: Questionnaire from Archer Land Title - Robert Franco/OH
7/14/2008 1:58:24 PM (4876 views)
Re: Questionnaire from Archer Land Title - Dan Zook/NY
7/14/2008 2:36:44 PM (5030 views)
Re: Questionnaire from Archer Land Title - Rob  Robinson/PA
7/14/2008 2:47:45 PM (4687 views)
Re: Questionnaire from Archer Land Title - Kristi Lee/NE
7/15/2008 7:32:38 PM (4830 views)
Re: Questionnaire from Archer Land Title - catherine yant/OH
7/14/2008 3:00:19 PM (4891 views)
Re: Questionnaire from Archer Land Title - Scott Perry/PA
7/14/2008 4:05:30 PM (4741 views)
Re: Questionnaire from Archer Land Title - Ron McPherson/IA
7/14/2008 5:43:10 PM (4718 views)
Re: Questionnaire from Archer Land Title - Rob  Robinson/PA
7/14/2008 6:25:47 PM (4695 views)
Re: Questionnaire from Archer Land Title - Ron McPherson/IA
7/15/2008 2:12:39 AM (4653 views)
Re: No one going to provide the ?aire - STEVE MEINECKE/TN
7/15/2008 4:34:40 PM (4731 views)
Re: No one going to provide the ?aire - Kristi Lee/NE
7/15/2008 7:08:12 PM (4715 views)
Re:I finally received a copy- Thanks - STEVE MEINECKE/TN
7/15/2008 8:39:26 PM (4711 views)
Re: Questionnaire from Archer Land Title - Melinda Barcum, J.D./AL
7/31/2008 8:26:40 PM (4411 views)

LSI Vendors Watch out - Helga Hinck/NH
7/14/2008 9:24:14 AM (4591 views)
Re: LSI Vendors Watch out - Rob  Robinson/PA
7/14/2008 10:38:18 AM (5336 views)
Re: LSI Vendors Watch out - mason haas/NY
7/14/2008 1:08:15 PM (5304 views)
Re: LSI Vendors Watch out - Ronald Johnson Jr/KY
7/14/2008 1:02:59 PM (5533 views)
Re: LSI Vendors Watch out - Jessica Talley/NJ
7/14/2008 7:52:12 PM (5307 views)
Retraction - Helga Hinck/NH
7/14/2008 8:22:16 PM (5148 views)
Re: Retraction - Jessica Talley/NJ
7/14/2008 10:32:04 PM (5063 views)
Re: Retraction - Dan Zook/NY
7/15/2008 12:49:44 PM (5064 views)
Re: Retraction - Bruce Murch/VA
7/21/2008 10:09:30 AM (4887 views)
Re: LSI Vendors Watch out - george Hubka/MI
7/22/2008 7:48:30 PM (4816 views)

Examnet / Ecom Title / Elenderservices - PAYMENT UPDATE - Mueller/IL
7/11/2008 10:01:53 AM (4140 views)
Re: Examnet / Ecom Title / Elenderservices - PAYMENT UPDATE - Shona Dunning/WY
7/11/2008 12:40:43 PM (5065 views)
Re: Examnet / Ecom Title / Elenderservices - PAYMENT UPDATE - Mueller/IL
7/11/2008 7:35:59 PM (5047 views)


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