What are abstract fees & recording fees?

The abstract fees and recording fees are two of the fees which are most commonly misunderstood. What is an Abstract in Real Estate? A summary of the title search is called abstract fees. An abstract goes back to the property’s original date and like title searches don’t stop at 40 or 60 years, it summarizes all public records found on the property.

How much does an abstract cost?

Depending on the length and complexity of the abstract it would cost anywhere between $300 to $500. Because the seller must prove that they legally hold the title the cost of the abstract is usually paid by the seller. When the purchase agreement is written this cost can be negotiated.

What are abstract fees in real estate?

Abstract fees in real estate refer to a summary of the search title. This summary goes back to the property’s origination and pulls together all of the public records on the property. It also includes a short property description and a chain of ownership based on the titles that have been issued on the house. Why Do You Need to Pay Abstract Fees?