An abstractor is a professional who is well versed in the documentation of property. When buying real estate it is important to know that the title of the property is clear and that you will be the owner of the property after it is sold with no legal claims or tax implications attached to the property. It is the job of an Abstractor, also known as a ‘Title Abstractor’, to delve into the records and verify that you are getting a clear title to the property you propose to buy.
Here is how you can become an Abstractor quickly and efficiently:
1. Study Real Estate
This is a very long and endless process. It requires a lot of legal knowledge as well as practical knowledge. The best way to begin is to work as an apprentice with an established realtor. While you will learn about scouting for property for sale and the legal processes involved in transfer of property you will learn a lot of stuff you will not learn from a realty school.
2. Take A Para-legal Training
It is advisable to take some Para-legal training and specialize in realty laws and processes. You will need to learn about deeds, right-of-way laws, liens, mortgages, and easements. You will also need to learn about contracts and banking rules such as foreclosure laws as well.
3. Get Certified
Many states require people who deal in real estate to get government recognized certification. Almost every state offers training in realty laws and processes through state run licensing agencies.
4. Sign Up With A Law Firm
If possible sign up with a law firm as an apprentice and spend as much time studying property cases, especially the problematic cases. You can learn a lot of what can go wrong with a title transfer and how to look for flaws in a title.
5. Get Acquainted With Research Techniques
Ninety percent of the time abstracting a title will get more than complicated. In these times you will need a GURU by your side. Some good books and a knowledgeable person in the field will be of great help so get yourself a mentor and look to him or her for advice when you come up against a difficult title to abstract.
6. Get As Much Experience As Possible
The knowledge you get from books and in a classroom will not amount to one tenth of what you will learn in the field while working on title abstracts. So, before you decide to go out on your own get as much experience abstracting titles as possible. Network with realtors and established title abstractors and offer help where needed. You will be making inroads with the realtors, who constantly require the services of title abstractors, and you will be honing your skills at the same time.