ComplaintsforWorld Class Title Agency

• Initial Complaint

  03/16/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  had closing Feb 21 they still owe 2100 what they said payment would be and bank deposit do not match up they made a mistake and forgot to check a line item and never let me know and just shorted account and not our prob that what you owe no phone call no email nothing till we caught the mistake

  Business response

  03/23/2023

  Complaint ID  ********
  
  Hello,
  
  The customer signed the closing documents before the day of closing. At the time of signing, the numbers were not final and were subject to change. The seller acknowledged this in the compliance agreement signed at closing.  The charge for title insurance was added prior to us sending the wire to the customer for the proceeds. Based on the contract between the seller and buyer, the seller is under a contractual obligation to pay for the title insurance. 
  
  Our process is to provide the settlement statement to the customer's real estate agent before finalizing the transaction, which was done. We offered to credit the customer with a discount on the title insurance, however, he refused. 
  
  We can supply copies of the documents upon request.
  
  Thank you! 

  Customer response

  03/23/2023

  they made a 2100 mistake by not notifying 

  Customer response

  03/28/2023

  [If you do not say why you are rejecting the company's response, BBB must close your complaint.] 
  
  Complaint: 19602911
  
  I am rejecting this response because: 
  
  Regards,
  
  Amos ******   the issue is of not notifying me for over 2 thousand dollars then saying prices are subject to change the price did not change you screwed up and wont admit if you would have reached out before before deposit was made it would be different but you did not have enough class to do 

  Business response

  04/05/2023

  Hello,

  
  

  We have made several good-faith attempts to resolve this with the client directly, however, he has not been receptive to our proposed solution to this matter. We wanted to reach out to you for guidance.
  
  We understand Mr. ******’s frustration, however, the fact of the matter is that he is contractually obligated to pay for the title insurance. He chose to pre-sign the closing documents before the actual day of closing, however, since numbers can not be fully finalized before the day of closing, all pre-sign figures are subject to change. As part of a pre-sign, all clients sign a compliance agreement stating that the numbers are not final and are subject to change. The compliance agreement states:
  
  “In the event said parties are executing documents at two different locations and/or different dates, said closing and transaction is closed in escrow (not final) until all required parties to the transaction have fully signed, delivered, and complied with all required documentation, conditions, and funds to finalize the transaction. Some costs reflected hereon may be based on good faith estimates that require post-closing adjustments. “
  
  The charge for title insurance was not on the settlement statement when Mr. ****** pre-signed, it was added the day before closing and prior to us sending the wire for the proceeds of his sale. Based on the contract between the seller and buyer, the seller is under a contractual obligation to pay for the title insurance.
  
  Our process is to provide the settlement statement to the customer's real estate agent before closing the transaction so once the charge for the title insurance was added, we sent the settlement statement to Mr. ******’s agent.
  
  When Mr. ****** reached out to the Escrow Officer processing his file to ask why the wire was a different amount than he initially expected when he pre-signed, we explained that figures changed after he signed and before closing, however, the final settlement statement that was sent to his agent did reflect the correct figures. When he was unsatisfied with that response we offered to credit him with a discount on the title insurance, however, he refused.
  
  Our Operations Manager then reached out to Mr. ****** in an attempt to resolve this matter but he was not receptive to hearing our explanation and resolution. The only solution he finds acceptable is a full refund but World Class Title has no responsibility to pay for any of the title insurance policy. We still offered to credit a portion as a courtesy to the client, but again, he refused.
  

  
  

  Thank you in advance for any assistance you can provide!

  
  Thank you! 

   ***** ********

  Operations Manager

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩