Our Problem
WOW! This is so high! We felt….
Our curiosity got the better of us and we started to dig further. We realized that a substantial portion of this cost is related to the searches at the county office to make sure that the investment is protected. There are fees for everything from tax escrow, owner search, lien search and pretty much everything else. We understand the need, but why at this high cost?
The banks rely on third parties who in turn rely on bulk data providers, who actually provide offline repository of data to search and produce, required information. Though most counties have a web site, it is often a daunting task to search across 3000+ counties in the nation, across diverse software platforms and extensive manual processes are needed to extract information.
If information is not available, it often requires a lengthy phone call to the county offices.
There has to be a quicker and cost effective way to access real-time data!