• Report: #1036887

Complaint Review: Factory Exp Homes Chandler AZ

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  • Submitted: Thu, March 21, 2013
  • Updated: Thu, April 18, 2013

  • Reported By: Ulysses — Tombstone Arizona
Factory Exp Homes Chandler AZ
6420 West Allison Chandler, Arizona United States of America

Factory Exp Homes Chandler AZ Alta Cima Corp Not refunding my $7K Escrow even though I did not qualify for a mortgage loan. No products or services were redered. Chandler, Arizona

*Author of original report: Issue Resolved

*Author of original report: A.R.S. 41-2180 Trust & Escrow Requirements, Rules, Exemptions

*Author of original report: A.R.S. 32-2151

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Factory Expo Home Center of Chandler Arizona will keep all good faith or escrow monies whether the deal has completed or not, unless you specifically stipulate it in the contract as an addendum. 
I did not qualify for a mortgage loan because I am retired US Army Veteran and living off of my pension and it was not considered adequate income even though I offered a large down payment, had a high credit score, and owned the land.
Therefore, the deal collapsed the home manufacturer refused to refund my "down payment". They did not begin the project and they did not incur any costs.  No product or service was exchanged.
This caveat was never explained to me upon signing of the contract to build a manufactured home. I consider this an unethical business practices. They just gave me excuses, stalling, and lies, but not a refund.

This report was posted on Ripoff Report on 03/21/2013 07:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Factory-Exp-Homes-Chandler-AZ/Chandler-Arizona-85226/Factory-Exp-Homes-Chandler-AZ-Alta-Cima-Corp-Not-refunding-my-7K-Escrow-even-though-I-did-1036887. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
3Author 0Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Issue Resolved

AUTHOR: Bertha - ()

I am writing to clarify my earlier statement/post regarding Alta Cima Corp. d/b/a Factory Expo Home Center. There was a misunderstanding between Factory Expo and myself regarding my Purchase Agreement. My statements were made in error and without attempting to contact Factory Expo to resolve the situation. I would like to officially rescind my original statements and, further, clarify that Factory Expo has resolved this issue, in its entirety, and to my complete satisfaction.
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#2 Author of original report

A.R.S. 41-2180 Trust & Escrow Requirements, Rules, Exemptions

AUTHOR: Bertha - ()

AZ Revised Statutes: Rel to Manufactured Housing

8. Date and payment for all goods and services the dealer has contracted to provide.

I All earnest money deposited in the trust or escrow account shall be held in such account until one of the following is completed.

1.  An application for title transfer has been made.
2.  The transaction involved is consummated or terminated and a complete accounting is made.

J. Upon completion of subsequent of this section the earnest money deposit shall be conveyed to the lending institution, or dealer, broker, purchaser, seller manufacturer, or lienholder, whichever is applicable.

L.  The deposits referred to in this section shall not be utilized for any purpose other than the transaction for which they were provided.
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#3 Author of original report

A.R.S. 32-2151

AUTHOR: Bertha - ()

State of Arizona Legislature

Section 1. Section 41-2180, AZ Revised Statutes, is amended to read:

A.  Each dealer or broker licensed pursuant to this article shall establish an independent escrow account with an independent financial institution or escrow agent authorized to handle such account in AZ as prescribed by title 6, chap 7 or 8, for each transaction involving:

1. A new manufactured home.
2. A new factory-built building designated for use as a residential dwelling.
3. A manufactured home, mobile home or factory-built building designed for use as a residential dwelling that is previously owned ant that has a purchase price of $50K or more.

I. N. All earnest money deposited in the trust or escrow account shall be held in such account until one of the following is completed:

1. An application for title transfer has been made.

2. The transaction involved is consummated or terminated and a complete accounting account is made.

J. O.  Upon on completion of pursuant to subsection I N of this section, the earnest money deposit shall be conveyed to the lending institution or the dealer, broker, purchaser, seller, manufacturer or leinholder, whichever is applicable.

L. Q.  The deposits referred to in this section shall not be utilized used for any purpose other than the transaction for which they were provided.

Above is only an excerpt:
Go to for the complete source document:
AZ Revised Statutes: Rel to Manufactured Housing

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