For a while now I have been using our own title company when my customers are purchasing foreclosed properties.  This is all despite the contracts “requiring” that we use their title company, which is against the law.  Here is a great email that Charity at Trademark sent out:

Associates,

In the last couple of weeks it has been brought to my attention that the title companies representing the banks have taken it a step further now. They are not just trying to fairly compete for the buyers business they are actually calling the selling agent and using scare tactics on them.

Most recently, the title company called a Selling agent telling her that the Buyer HAS NO CHOICE and must use them to close because the contract was written that way.  PLEASE do not allow these title companies to bully you or your buyers into closing with them, THIS IS AGAINST MINNESOTA LAW!

Another instance, the same title company as above called the Selling agent and told him the Buyers would end up paying $900 more to close with Trademark than with them. NOT TRUE!  We offer special pricing for buyers of bank owned properties.

Last week a very reputable title company who has now started representing banks sent us multiple emails stating the Bank won’t send the deed back unless the Buyer uses this title company. Again, THIS IS AGAINST MINNESOTA LAW!

Please, don’t be fooled by the latest tactics, if in doubt CALL A TRADEMARK CLOSER!