What is the cost of an abstract and who pays?
The price of an abstract is determined by the number of entries we add to the abstract. If the abstract was last continued many years ago, the chances of multiple deeds, mortgages, releases, probates and maybe a divorce or foreclosure can add to the price. The average price of a continued abstract runs $400 to $800. If it’s a more current abstract, the price will be less. If your old abstract is lost or you never received one, the price is higher. The expense is determined by the length of time we must search. 40 years is the minimum time we must search. The price of a new abstract runs $800 to $1,300. The cost of the abstract is usually paid by the seller because the seller must prove that they legally hold title. This cost can be negiotated when the purchase agreement is written.
