I think that honesty and attention to detail are important when picking a closing company.
My experience with Congressional Title in Washington DC might be a minor non-issue or it might be a canary in the coal mine.
Our real estate company tries to be as "paperless" as possible. And with that is getting our commissions paid via bank wire (or ACH) instead of a paper check or sometimes a paper check FedExed to us.
Liz Dahreddine is the President of Congressional Title and Escrow Co. She was trying to charge us $50 for a bank wire. We do hundreds of closings throughout the DC area and don't get charged a bank fee for wiring commissions. Most companies (big and small) applaud the efforts of a brokerage firm to enter into the digital age.
Not Congressional Title and Escrow.
She claimed that this is what the bank charged her.
I didn't believe it, but I didn't wnat to call her a liar, so I reconfirmed. I specifically asked her whether that was in part for her labor to send the wire, or whether it was what the bank charged. In the industry it is called a "pass through".
She said "that is what they charged us."
I then gave her written authority to charge us that $50 bank fee if she could prove this fee.
She could not, and then proceeded to explain it was part bank fee and part her time.
I call that a lie, but I will leave that up to others to decide what to call it and if it matters.
Makes me wonder, what other fees might they be charging, and claiming are "pass through" fees, when in fact they are not.
In this world, our word and honesty are of utmost importance. Even a little fib, lie or whatever you want to call it, matters.
Will you trust Congressional Title and Escrow? I do not.
Frank
p.s. As of 4-15-2013 their website cteco.com is "under contruction".
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