JimSentry
04-11-2007, 04:38 PM
Get ready for a Nightmare
Wife buys to be built Custom Home for 700K. It is a 3BR. The theater of our dreams will be on first floor as well as huge bar, billiard room, master. Approx 5200sf.
Bank Appraises it at 800K only later I find out they counted the BR in this house as 5. The comps they use are all o/s subd, even though a 4BR sold 6 months earlier for 654K
She takes out a CP Loan for 640K
Builder/Developer is now about to go bust. We find out he never filed for a Building Permit. Builder's ex-wife is one of the selling agents, who works for a very large Broker.
3 Other Builders in subd had filed suit against this Developer at least 2 weeks earlier than the date contract was signed. Suit was never disclosed by agents or our builder.
Bank sends out inpsector who does not have plans and continues to OK release of draws to builder for completing framing. I complain garage has not been framed nor second story over garage. He says builder told him it was detached garage.
I find out portion of draws intended for materials was never paid to suppliers and I just had to charge over 20K to my CC to prevent liens.
We have been screwed by builder, bank, real estate agents and co., appraiser amd inspectors.
Because of all the players involved no attorney will take the case unless a huge retainer is paid.
I need someone to take case on a contingency basis. All the players have E&O policies and this should be an easy win. Failing that it is deed in lieu of foreclosure.
Help!!!
Wife buys to be built Custom Home for 700K. It is a 3BR. The theater of our dreams will be on first floor as well as huge bar, billiard room, master. Approx 5200sf.
Bank Appraises it at 800K only later I find out they counted the BR in this house as 5. The comps they use are all o/s subd, even though a 4BR sold 6 months earlier for 654K
She takes out a CP Loan for 640K
Builder/Developer is now about to go bust. We find out he never filed for a Building Permit. Builder's ex-wife is one of the selling agents, who works for a very large Broker.
3 Other Builders in subd had filed suit against this Developer at least 2 weeks earlier than the date contract was signed. Suit was never disclosed by agents or our builder.
Bank sends out inpsector who does not have plans and continues to OK release of draws to builder for completing framing. I complain garage has not been framed nor second story over garage. He says builder told him it was detached garage.
I find out portion of draws intended for materials was never paid to suppliers and I just had to charge over 20K to my CC to prevent liens.
We have been screwed by builder, bank, real estate agents and co., appraiser amd inspectors.
Because of all the players involved no attorney will take the case unless a huge retainer is paid.
I need someone to take case on a contingency basis. All the players have E&O policies and this should be an easy win. Failing that it is deed in lieu of foreclosure.
Help!!!