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Anyone have experience with Powerlink?

By
Real Estate Agent with BHHS Keys Real Estate

We have been attempting to have a closing with Powerlink. We were supposed to close on February 14th, but that didn't happen.

This is a mail away. They can't seem to understand that the closing date and the disbursement dates are different. If the buyers sign today with a traveling Notary, the Notary will hopefully be able to overnight the documents the same day for receipt by the Title Company the next day, hence the reason there must be two dates.

 

At one point, Powerlink was going to send their Notary to close the loan, at which time the documents would be hand carried back to the Title Company on the same day, allowing for the dates to be the same. After a week of saying they were going to do just that, it still did not happen.

The Mortgage Broker is having to pay $600 to have the documents recast. The buyer had to pay $900 to extend their lock. Powerlink is also taking  3/4 of a point out of my and the listing agents commission. We have another Title Company who can get this closed.

I think Powerlink needs to go away and leave everyone's money alone. The Seller, since they chose Powerlink should make the Mortgage Broker and the buyer whole.

Is this a rarity or are others experiencing similar problems with Powerlink?

 

 

Comments (7)

Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Kathy, I am not familiar with Powerlink but as someone who does mobile notary work I think they need to learn about me and the other mobile notaries out there.

Feb 26, 2011 04:57 AM
Kathy Denworth
BHHS Keys Real Estate - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

Bob, I am a mobile Notary. I am listed on Notary 123 and Notary Rotary. I think Powerlink desperately needs to know where and how to find us. 

 

Feb 26, 2011 06:05 AM
Anonymous
Pam

YES we have had the misfortune of working with PowerLink!  They are just aweful.  No one responds to emails, phone calls etc and they are supposed to file electronically yet they send the docs thru snail mail and 2 weeks later to boot!  Further they got our deed wrong, so the state of Kansas had to send it back for them to redo OMG!  They took our money yet never porcessed the loan co on the deed and with 6 weeks of trying to get them to get it done, we finally had to cancel with them and go with a local co who got it done in 2 days!!!!!  Now we are trying to get our money back from PowerLink - and of course - no response.  So we have filed a complaint with ksinsurance.org and with Chicago title who undwrites them.  Further we will file a complaint with the FEDERAL TRADE COMMISSION!  These people must be put out of business....

Jun 01, 2011 06:40 AM
#3
Anonymous
kyle

did you ever get you're money? i am trying to close on a deal with them also but thru another company called Auctions.com an online auction co. they accepted my high bid( the seller did) and i got a Excuted contract now the Auction co is tring to say the seller is cancelling but power link says they havent been notified of any cancellation. mean while the auction co is trying to get me to sign a cacelation paper and then they will send it to the seller to sign??? they want to cancel so they should sign it 1St anyway I am worried that Power link will close on this deal and then I will be out of our life savings ( this is a cash deal) I am disabiled and this is all the money we have in the world plus some i borrowed< Thats why i wanna know if you got you're money back and if anyone knows whether or not the seller can back out after signing a contract?

Sep 06, 2011 09:42 AM
#4
Kathy Denworth
BHHS Keys Real Estate - Islamorada, FL
Realtor in the Florida Keys, Islamorada, Key Largo

Kyle, I suggest you involve your Realtor. I was the buyers Realtor. We did get this closed, but they had to pay the Title Insurance because we did not use their title company.

Sep 06, 2011 10:56 AM
Anonymous
Jackie

I had a terrible experience with Powerlink. I reported them to the BBB. Now I recently found out another issue. I am being assesed late fees on property taxes because they did not handle closing costs. I would NEVER deal with them again.

May 31, 2012 12:23 AM
#6
Anonymous
pat grant

powerlinks has some kind of relationship with auction.com which is mentioned above. Both organizations once they get your money quit answering the phone. My experience with them is too long to detail but all bad. my advice , get your own local closing agent.

Nov 02, 2013 02:19 AM
#7