How title insurance companies blackmails consumers
I am so tired of writing these posts. Why does the real estate world need to live in the 50s and rip people off.
Today I received a sheet from a title company in Philadelphia that showed the final numbers for the seller that my company represents.
In Pennsylvania, the buyer chose the title company. They ended up choosing the in-house title company of a Coldwell Banker real estate brokerage (more on that from the CFPB, not me!).
There is 2 charges for $75. One for conveyancing and one for document preparation. Were we informed in advance? What did they do for the money? The answer was- NO ANSWER. Blackmail. Pure and simple blackmail.
And yes, I only use title companies that are transparent and reasonable. And you should to. But, if you are on the other side of a transaction, makes sure you get any fees ahead of time.