Claremore Abstract started in town way back in the 1930s. For so many years, it’s been a local company full of Claremore people working to make home sales and refinancing easy and efficient. When FirsTitle/Smith Brothers Abstract purchased the company in November 2016, it allowed the company to make things even more streamlined.
Now, I’ve purchased two homes in my life, and I couldn’t tell you what a title company or abstract company does. I sat down with Nate Sanow, the marketing whiz for FirsTitle, and he broke it down for me. An abstract is a piece of paper (or lots of papers) that detail everything about a property. Each time a piece of property is sold or refinanced, the abstract is updated. In the past, abstracts have been physical documents, but now, FirsTitle/Smith Brothers can digitize them, which means nobody has to carry around a huge book anymore. This is the first abstract company in the Tulsa area to be digital, so that’s a big deal! When purchasing a home, the law requires the lender to get the abstract within 15 days. Smith Brothers aims for a three-day turnaround. (The abstract is important because banks don’t loan money until the abstract is in hand.) They also create abstracts for new builds, subdivisions, unplanted land, lost or unable to locate abstracts.
Now, FirsTitle/Smith Brothers is a one-stop shop, handling both abstracts and titles. The title company’s job is to provide home buyers with a clear title, making sure there are no liens on the property. They also deal with title insurance, which protect buyers from any potential lawsuits that could pop up after the sale.
The friendly and knowledgeable staff is all longtime Claremore Abstract employees, many of them clocking in at nearly 20 years with the company. In fact, Tracy Row, the former owner, still works for the company. And with the purchase, it allows employees greater access to resources and advancement opportunities. FirsTitle is the fastest-growing title company in Oklahoma, currently handling abstracts and titles in eight counties.
FirsTitle/Smith Brothers is located at 509 W. First St. It’s always been there, but it’s got a new look now! With a fresh remodel and a new name, the employees are excited to show their new space. They will host an open house on Tuesday, June 5, from 4p – 7p. Everyone is welcome!
The open house is especially important for realtors, builders, lenders, house flippers…anyone who’s involved in the industry. Realtors tend to choose the title company, but the home buyer or seller has a say, too. So if you’re in the market, stop in and meet the friendly folks at FirsTitle/Smith Brothers in Claremore.
