Karkela, partner group expands title company with local acquisition
Perham attorney Terry Karkela and a group of partners have purchased Title Services in Perham.
The company was bought from Dale Wilde, who operated the Perham office along with his Becker County Title Services in Detroit Lakes.
For Karkela, the Perham office will be an extension of the N.F. Field Abstract company in Fergus Falls, of which he has also been a part owner for the past five years. There is also a Field Abstract office in Pelican Rapids.
Buying the Perham Title Services office was a good fit for Karkela, who has practiced in the Perham area for 30 years-and one of his primary areas of expertise is real estate.
Mortgage closings, title work, sales, refinancing, title insurance and for-sale-by-owner transactions are among the services performed by the Perham office.
While the real estate sector has been somewhat slow in the wake of the economic downturn and tightened credit; real estate transactions have been fewer.
"Like the rest of the country, we're looking for real estate to turn around...and we'll be prepared to serve people when it does," said Karkela.
Staff at the Perham office will include office manager Anjanette Riewer and closer Patty Nelson.
Sebeka native and U of M law school graduate Karkela is a partner with eight other attorneys, with offices in Fergus Falls, Battle Lake, Pelican Rapids and Perham.
With eight attorneys, "we're in a position to provide expertise in almost any area of law," said Karkela, who offices mostly in Perham, with partner Paul Hunt.
N.F. Field Abstract was founded in 1920 by a Fergus Falls attorney. In 1952, Neal Morstad became a partner in the company with Cyrus Field. Together, they operated the business until the late 1970's. At that point, Tom and Jim Morstad became managing partners, positions they continue to the present.
N.F. Field now provides complete title services in four locations, with the addition of Perham.
"While the title industry has undergone many changes over the years, the underlying principle of providing timely and accurate service to the customer has not changed," said managing partner Jim Morstad.