Classic Settlements

I’m a realtor and my buyers picked Classic Settlements to facilitate their home purchase in February of 2014. Classic kept in touch with all parties of the deal constantly, and lead us to a quick and smooth closing. We had some hiccups along the road due to the lender, and Classic were helpful in resolving any issues. The Settlement Attorney, Jonathan Levy, was professional and friendly, and patiently answered my buyers’ questions.

Went above and beyond the call of duty with dealing with the seller of our property. They endured an incredible delay due to one if the sellers and worked overtime to get everything settled.

Sellers beware.
Classic Settlements will sit on your funds long after closing. When my funds were not wired within the first hour and a half after closing, I emailed them asking what the delay was. They actually told me that the person who does the wiring had gone to lunch right after closing and «should be back» soon to wire the funds. More time passed with no funds transferred. I emailed again and was told not to worry and that «funds will be wired today.» I repeat, TODAY.
Four hours after the settlement meeting, I finally received partial proceeds – a small sum. However, it took DAYS to get this company to transfer the rest of my money – the larger funds to pay off my two mortgages. When I asked (repeatedly) why these funds were not wired at the same time as the other funds, on the day of settlement, the response was not an answer to my question but rather a defensive, «There is no guarantee» that funds will be transferred on the day of settlement. I responded asking for a real answer and got nothing. No reply at all. I asked several times over the next couple days why this was never communicated to me in all the conversations we’d had in the six weeks prior to closing. No answer. To this day, my questions to Classic Settlements have gone unanswered.
I’ve sold seven other homes in my adult life and have always received funds at settlement (or at least before end of day).
But if your buyer chooses Classic Settlements, you will have to wait – without explanation nor warning, even if they tell you «funds will be wired today.» Classic Settlements has obviously invoked a scheme where they sit on the seller’s funds a few extra days, while the seller pays that interest, and Classic Settlements EARNS interest – on the seller’s funds! Long after the buyer has moved in!
I find this behavior to be egregious and unethical. As a result, there are now tensions between the buying and selling agents, and the buyer and seller – all ruined by Classic Settlements’ bad behavior. Closing is stressful enough — but to be subjected to this kind of theft by the title company itself is shocking. It should be illegal.
If you want a settlement company that operates under ethical standards and handles your settlement with professionalism, stay far away from Classic Settlements in MD. This has never happened to me before, and I consider it theft.

Classic Settlements is an absolutely top-​notch settlement company. Their customer service is as good as it gets, from the processors, to the attorneys, to Joe at the front desk! Everyone has excellent communication skills, is very knowledgable, and has a lot of experience. As a REALTOR I have worked with many settlement companies in the past, but whenever a client asks who my top choice is, my answer is emphatically Classic Settlements!