What role does an abstractor have in real estate transactions?

An abstractor plays a crucial role in real estate transactions by compiling the abstract of title. This document provides a comprehensive history of the property title, detailing all the recorded rights, interests, and claims associated with the property. This can include information about previous owners, liens, easements, and any other encumbrances that may affect ownership. By summarizing this information, the abstractor ensures that potential buyers, sellers, attorneys, and lenders have a clear understanding of the legal standing of the property prior to the transaction. This is essential for establishing clear title and protecting against future disputes related to ownership.

The other roles mentioned—determining property value, creating legal contracts, and representing buyers in negotiations—are typically handled by appraisers, attorneys, and real estate agents, respectively. These professionals carry out specialized responsibilities that contribute to the real estate transaction process, but they do not perform the specific duties of an abstractor. Hence, the correct answer highlights the unique and critical function that an abstractor provides in verifying the history and legitimacy of property titles.