Home buyer does not receive deposit back form America’s First Home and alleges America’s First Homes’ Finance Division mishandled their offer for financing.
April 5, 2006 (Press Release) --
America’s First Home in Florida, doing business as America’s First Home, LLC, has decided to not return a good faith deposit to a potential home buyer.
The buyer, a couple from Ocala, Florida, states, “We signed a contract and left a deposit with the sales agent who told us that if we didn’t secure financing within 30 days we would get our deposit back. We even signed an addendum to the contract to that effect. When our financing was not secured within 30 days, we asked for our deposit back. To our surprise America’s First Home stated that they would not return our deposit.”
America’s First Home, LLC, is a Florida home builder founded by a father and son team, Bill and Barry Frey. America’s First Home has built more than a thousand homes throughout Florida and is currently building communities and homes in 15 different locations throughout Central and South Florida.
The couple has sent a letter of intent to sue to America’s First Home.
“America’s First Home seems to be very nice at the start, but once they have your money it’s another story,” states the frustrated husband.
The reason the couple decided to not buy an America’s First Home is because of how the Finance Division handled their contract.
“The loan representative asked us to sign the Good Faith Estimate which states that we received the ‘Settlement Costs’ booklet, however he did not send it to us within the 30 days of the contract date. Also, the Good Faith Estimates were not the same as what was stated over the phone, despite our having excellent credit,” alleges the husband.
Future details concerning the dispute will be covered in future press releases.
The buyer, a couple from Ocala, Florida, states, “We signed a contract and left a deposit with the sales agent who told us that if we didn’t secure financing within 30 days we would get our deposit back. We even signed an addendum to the contract to that effect. When our financing was not secured within 30 days, we asked for our deposit back. To our surprise America’s First Home stated that they would not return our deposit.”
America’s First Home, LLC, is a Florida home builder founded by a father and son team, Bill and Barry Frey. America’s First Home has built more than a thousand homes throughout Florida and is currently building communities and homes in 15 different locations throughout Central and South Florida.
The couple has sent a letter of intent to sue to America’s First Home.
“America’s First Home seems to be very nice at the start, but once they have your money it’s another story,” states the frustrated husband.
The reason the couple decided to not buy an America’s First Home is because of how the Finance Division handled their contract.
“The loan representative asked us to sign the Good Faith Estimate which states that we received the ‘Settlement Costs’ booklet, however he did not send it to us within the 30 days of the contract date. Also, the Good Faith Estimates were not the same as what was stated over the phone, despite our having excellent credit,” alleges the husband.
Future details concerning the dispute will be covered in future press releases.
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