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BLACK FAMILY LOSES HOME AFTER BUILDER BACKS OUT

RUDY RAYYY MO

RUDY RAYYY MO

Rising Star
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Should have thoroughly read the contract. Thank God I'm a VET cause rhe gov don't allow this type of shit

www.fox4news.com

Canceled for convenience: North Texas family loses home after builder backs out without warning

A North Texas family says they have a warning for anyone who's buying a home from a builder. Just days before closing on their forever home, their builder backed out. Turns out the builder's contract they were required to sign left them with virtually no protection.
www.fox4news.com www.fox4news.com
 
RUDY RAYYY MO said:
Should have thoroughly read the contract. Thank God I'm a VET cause rhe gov don't allow this type of shit

www.fox4news.com

Canceled for convenience: North Texas family loses home after builder backs out without warning

A North Texas family says they have a warning for anyone who's buying a home from a builder. Just days before closing on their forever home, their builder backed out. Turns out the builder's contract they were required to sign left them with virtually no protection.
www.fox4news.com www.fox4news.com
Click to expand...

being a vet doesnt mean anything when the builder breaches the contract on purpose
 
That’s fucked up, the build saw $300k in profit and went straight Nino Brown “it’s always business, never personal” on em:

InferiorFirmAmazontreeboa-size_restricted.gif

They needed to have a real estate lawyer review that contact before signing it. :smh:
 
They punted on their responsibility to do their due diligence and seek legal aid. I have a feeling they'll be compensated just the same. The terms are so egregious on the builders end it's absolutely predatory.
 
builders hold all the cards, if the family didn’t sign the contract the builder knows someone else will. Only other option is to build your own. During the time my house was being built I knew I was exposed to whatever bs may come but thankfully nothing happened
 
cold-n-cocky said:
That’s fucked up, the build saw $300k in profit and went straight Nino Brown “it’s always business, never personal” on em:

InferiorFirmAmazontreeboa-size_restricted.gif

They needed to have a real estate lawyer review that contact before signing it. :smh:
Click to expand...
Bingo! That's it. Should have had a lawyer review the contract.
Some of these builder contracts are so one-sided they're damn near unconscionable and should be torn up.
 
XXXplosive said:
The VA won't send a lawyer to review the contract for you. The VA's only concern is about the funding and whether you can pay them back.
Click to expand...

TOUCHE.

They can, as I understand it, force that the home is delivered once contracted IAW the contract stipulations.

I guess I can't speak to the clauses in the contract. Never had that shit happen to me.
 
Shadow said:
Better to be on the giving end.

The VA will make sure your shit is legit.

I hate my loan company but I do appreciate the VA for keeping their ass in check.
Click to expand...
The VA sent an inspector out and he found something VERY minor, so they were like "Fix that shit." It was so minor, my wife and I said it would be no problem for us to do it, and the VA was like, "No, THEY"RE going to fix it!"
 
Shadow said:
Better to be on the giving end.

The VA will make sure your shit is legit.

I hate my loan company but I do appreciate the VA for keeping their ass in check.
Click to expand...

My dad bought their house through the VA. Now that he has passed, my mom took over and she is getting his benefits and everything else.

I had her called her lender to see what she got to do to find out how much equity she has earned in the house. They estimated she is up at least 100k, but not certain without an appraiser.

What kind of stipulations do the VA have when owning a home, especially if the owner is a widow?

Can she sell the home if she wants to? She has the paper work at home, but I haven’t got around to read her terms.

I’m just curious to know any information from you brothers that has experience.

@woodchuck @RUDY RAYYY MO
 
They will get paid. If nothing else, that shit company will settle to kill all negative publicity.

Might not be a ton of money, but I bet it will be in the tens of thousands.

Greedy bastards just taking advantage of this crazy housing market. :smh:
 
I saw the title, was going to post, but read the entire article because I had my home built, went thru some issues only with the design center. But I had minor issues waiting on the buyers of my existing home then hold up of my current. My builder was using my home for showings and We didn't even know because we had so many upgrades.

I see in this dudes situation, he signed away so many rights that my recourse would of been to lay some hands on that decision maker
 
4 Dimensional said:
My dad bought their house through the VA. Now that he has passed, my mom took over and she is getting his benefits and everything else.

I had her called her lender to see what she got to do to find out how much equity she has earned in the house. They estimated she is up at least 100k, but not certain without an appraiser.

What kind of stipulations do the VA have when owning a home, especially if the owner is a widow?

Can she sell the home if she wants to? She has the paper work at home, but I haven’t got around to read her terms.

I’m just curious to know any information from you brothers that has experience.

@woodchuck @RUDY RAYYY MO
Click to expand...

She can sell the home as if she was the veteran. He probably was 100% and elected all the survivor stuff for her to be able to do all that in his place.

there are no stipulations other than what you expect to have to abide by as the buyer/owner.
 
RUDY RAYYY MO said:
Read the article and what I'm saying is VA is very strict and thorough home buying process
Click to expand...

Yep. They will get in folks ass for you too and like I said in the other thread it literally takes an act of God to get you out of your house and if they looking at your house before you move in they will make them fix everything. Or no closing. Mfs made em change my light bulbs and put up blinds lol
 
VAiz4hustlaz said:
How so?
Click to expand...
They were nick picky. They made them fix and correct everything they didn't like, no matter how minor. After it was done, they sent another inspector out, and if he found something else, they made them fix that too. Also, the VA didn't budge on the price. The seller sold this house for 32k less than asking. Also, they bought beachfront property before they sold the house, and that put them in a bind. By that time, they had no choice but to take the VA's offer. Like I said before, we lucked out big time.
 
VAiz4hustlaz said:
How so?
Click to expand...

by enforcing every thing required of the seller before the seller moves to close.

a lot of people try to moveby waiving inspections and other shit the state May not expressly need done. Try to drop Pennies off the home when the inspections find shit instead of fixing it first. The VA makes them do all that shit in order to close. You just gotta sit back and provide the paperwork needed at each stage.
 
4 Dimensional said:
My dad bought their house through the VA. Now that he has passed, my mom took over and she is getting his benefits and everything else.

I had her called her lender to see what she got to do to find out how much equity she has earned in the house. They estimated she is up at least 100k, but not certain without an appraiser.

What kind of stipulations do the VA have when owning a home, especially if the owner is a widow?

Can she sell the home if she wants to? She has the paper work at home, but I haven’t got around to read her terms.

I’m just curious to know any information from you brothers that has experience.

@woodchuck @RUDY RAYYY MO
Click to expand...

She is by extension of her deceased husband able to do anything and everything she wants to. For instance if they approved her husband for a ceiling to move in and she didn’t exceed it she can request a new letter asking for the max. The house is hers and she can still use all his benifits. She don’t get his entire VA disability check but it’s should still cover the mortgage or come close. She should be getting his SSI benefits too.

Basically she can get the equity, keep the house, sell it or cash out.
 
woodchuck said:
They were nick picky. They made them fix and correct everything they didn't like, no matter how minor. After it was done, they sent another inspector out, and if he found something else, they made them fix that too. Also, the VA didn't budge on the price. The seller sold this house for 32k less than asking. Also, they bought beachfront property before they sold the house, and that put them in a bind. By that time, they had no choice but to take the VA's offer. Like I said before, we lucked out big time.
Click to expand...

This is true. See my other post. Also if a seller sales the house for say $350k but the VA says it’s only worth $275k that’s it, they will not approve it for $350k.
 

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