Updated over 4 years ago on . Most recent reply
Switching to a new Title Company
Is it legal and/or ethical for a title company to withhold transferring an escrow deposit to the new title company? Or withdrawal amounts as they see fit from the deposit balance for fees they feel we should pay them?
***No contract was signed for service & no effort was made to disclose clear concise costs or fees***
I was working with a closing agent that I got through my company's legal plan LAST MONTH (big mistake) and went under contract/submitted it to her for review a week ago. In the last week, I have spoken to her assistants, but not the lawyer herself because she was "in mediation". In the lawyer's absence, her team was unable to provide a settlement/closing fee quote or the additional costs after numerous phone calls. They didn't even know who the mortgage company was even though it is written in the contract. After finding a new title company, I realized how poor and shady their service was (hence why I switched). Now the woman is holding the escrow deposit hostage until we pay fees for wire transfers and a title commitment that we have no intention of using/they have no intention of providing. She isn't even sure how much the title commitment fee is and just gave a range.