Morris “Pete” Peterson started Abstracting Inc. 25 years ago in Clarion. In the last couple of years, as Peterson began to eye retirement, a couple of local business owners decided they did not want to see a crucial local business shuttered. So in stepped Bob Powers and Rod Brooks. Now, under their ownership, Abstracting Inc. resides at 218 1st Street SW (formerly the skating rink) and is ready for clients.
For those who have been involved in real estate transactions, an abstract might be a familiar document. If you haven’t, it may be a mystery. An abstract is a document that contains the history of a particular property. Basically, the abstract tells the story of a property…who has owned it, what has happened there, etc. Powers explained that abstracts are necessary when property is purchased, sold or someone is acquiring financing. They are also unique to the state of Iowa.
After being open for about a year, Powers and Brooks, who own North Iowa Real Estate, are proud of what Abstracting Inc. has become under their ownership. They emphasize that they are tapping into years of abstracting experience. Their team is comprised of Peterson, who has over 46 years of abstracting experience, Jo Ann Schnell, who previously worked for Wright County Abstract and Land Title Company and has over 26 years of experience in the business, Lanette Watts, who also previously worked for Wright County Abstract and Land Title Company with over 6 years of experience, and Peggy King, who formerly worked for Abstracting Inc. and has over 22 years of experience.
Powers and Brooks stated, “Together our team has nearly 100 years of abstracting experience and extensive knowledge of title law and Wright County which is an essential part of the business.”
The business also strives for speed and accuracy. Powers added that abstracting can be meticulous work, often requiring combing through years of paper files. These days, updated technology also helps with the process. Cumulatively, with those tools and their great staff, Abstracting Inc. is able to get the work done accurately and in a timely manner. They note that their average turnaround time for abstracts is about four business days.
Though they are busy men, the new owners explained that they saw a great opportunity with the abstracting business since it goes hand in hand with their existing real estate work. “We wanted to get further into it and abstracting was a good fit,” said Brooks.
Powers added that they also valued the idea of keeping a business in town. “If we lose a business, any business, we might lose individuals who work there. We like to see the area thriving.” He said that they have also enjoyed learning more about the county and meeting new clients.
Both Powers and Brooks look forward to welcoming new clients as they continue to service Wright County. The owners said that interested clients are welcome to stop by their office, email service@abstractinginc.com or give them a call at 515-532-6852. They even offer pick-up and drop-off services within the county.
