Most recently I lost a major client due to search fees. They reassured me that our quality of work and services are not an issue. However, our fees are. We charge $115.00, per chain of title, for a 42 or 60 year residential full search and $165.00 per chain of title, plus copies, for a commercial search. I know a number of examiners who charge what we charge or more. I was informed by this client that a number of examiners in my area, Central Ohio, are charging $75 to $95 for full searches in 3 of my counties and no more than $100 in the other 3. A number are around $90.00 for a full search. For updates, I was told they are charging either $15 or $18 or $20 for updates less than 6 months. These are fees we charged in 1995 when our office first opened.
I can understand this long term client using these type of examiners. They are in business to make money and save money whenever they can. What I don't understand how any examiner can only charge $75 for a full search. These counties are not 100% remote access. The title work has to be completed at the given courthouse. I was also informed that any additional chain of title is charges between $25 to $50 for the additional chain of title. We give typed reports with every title search report, whereas I know these $75 examiners are providing handwritten scribble search notes.
We examiners can complain about this company or that company, but sometimes we are our own worst enemy. I don't expect us all to charge the same amount for our work, however, I don't expect 1995 fees here in 2022. When gasoline is hovering around $5.00 per gallon. I also understand we are a free market society but it appears we are not truly being undercut by overseas title providers but by homegrown cut rate searchers.
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