One thing about these posts that I have viewed is there is no dates so I will state that this review is on 9/15/2010.
I felt that I would give a review of CPE as a buyer because most appear to be from agents or lenders. Yesterday we closed on our bank owned home. I want to start with the positive. The two young women that we dealt with yesterday at the Westminster office were nice. The receptionist was very courteous. The closer (wasn't the actual person who did all the title work. Closer by proxy) was nice but a little rushed. We had to wait for our attorney to arrive before we began and I could tell she was a bit irritated with that. Overall though, nice and efficient. Hence the reason for a two star rating.
Now for the bad. Granted I have not had a lot of experience with buying and selling homes and this is our first REO purchase but our 4 previous transactions were nothing like this. To begin we had a title agent (forgive me if I have the title wrong) that suddenly disappeared. Not sure if he was fired, quit or died. CPE didn't pick up the slack with a new title agent for nearly 10 days. Our attorney kept reminding us about the deadlines for the various documents that were coming due. The new title agent would not respond nor provide us with some of the documents. I personally had to call in a favor with a friend that lives in the subdivision to get the HOA documents because CPE would not do it. Our realtor had to drive all the way up to Georgetown to obtain documents from Clear Creek County because CPE would not do it. Things that I understand they are suppose to do. When it came down to the wire the agent stated that she had not received the necessary "numbers" document from our lender. However, she had requested these 3 times previously and had received 3 copies previously. Then she came back the day before our original closing date and said "I did receive" but of course the seller (a bank) requires 3 full business days to review. So this delayed our closing. When it came down to yesterday's closing we weren't even sure that we were actually closing until 2 hours before. Very nerve racking to say the least.
Now I understand that there are special circumstances with REO and that it is not as streamlined as a conventional purchase but the way I see it is if CPE did their job efficiently this transaction would have gone much smoother.
Our agent, lender and attorney all stated that they have never had this much trouble with a title company in the past. Each of them have over 15 years experience with real estate transactions. That says a lot.
The good news is we closed on a home we never thought we could purchase and we're moving on with our lives. Even if this whole process has given us a bit more grey hair.
Good luck to any of you that have to use this title company. Make sure your attorney stays on top of them (if you don't hire an attorney your foolish) as you will need someone to provide the pressure to get things done.