Well, I sure do like that bill- it will certainly cut out all the abstractors from out of state- and there can be no outsourcing of titles needed for Kansas property-especially since you have to show up in the State to take the test- and all the companies listed in the SOT directory that are from out of state will be shut out , too. I wonder how they are going to deal with this-or will they just have to relinquish the cases back to in-state abstractors. And what will the big title insurance companies that require titles be done in India to bolster their respective pocketbooks do when they have to return the work to American abstractors- it will probably be a big cut in their profits- well,not really, the amount they cut by using off-shore abstractors is a minor part compared to the thousands they pull in on the insurance policies, especially with the built in inflation factor of higher assessments and selling prices which in turn mean larger premiums being paid to the agents by the property owners. It sure would be nice if we, as abstractors had a price schedule that was a percentage of the price , like everyone else involved with the settlement process has, instead of a fixed price, which always puts us behind the times. The realtors , brokers, loan officers and the title insurance agents/companies all have it built in to off set higher prices with their own built in higher fees as time goes on-as abstractors we should strive for the same kind of equality in fees,afterall-our E&O goes up every year too-so our fees should do exactly the same thing.
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