Ryland Homes has been an absolute nightmare for my wife and I. It all started about 2 years ago when my Wife and I decided to take a look at a larger home due to our having an additional baby. We unfortunately found a home that was the right size with Ryland Homes. We took a ride out to one of their new Communities in Winter Garden Fl. The Sales lady appeared nice enough. But soon turned on the high pressure sales pitch. Letting us know that a select few prime lots had just become available but they won't last. So we took the bait and put a hold deposit on the lot while we went back home and gave it some thought. We were told by the Sales Lady that we had 3 days to return and decide.
So after three days we went back and told her we were interested in the home but that the process seemed rushed. She immediately pulled out a ton of legal contracts and paperwork to have us sign on the spot? I didn't feel comfortable signing these documents but she reminded us how we could lose the lot. I figured I could sign them, take them home review them and if we weren't happy we could back out.
Sure enough when I got home and reviewed all the paperwork I said this is just not good for us. I immediately put a stop on our check to them and tried to reach the Sales Rep with no luck for the next 2 days. When I finally contacted her I let her know that I wasn't happy with all the legal contractual obligations and wanted out. She put on the sales pressure again and intimidated us by telling us "These were legal papers you signed and could lead to court action"? My wife and I are 911 refugees, we lost a child in a car accident. the last thing we wanted was a legal mess so we decided to just go through the process and immediately sell the home. (later on we found out through an Attorney we could have easily backed out of the deal by sending them a letter! within a 3 day recision clause!) Nice how the Sales Rep conveniently left that out of our conversation!
Now we had 50K tied up with Ryland. We went into the closing with another 75K deposit. Our loan application was stream lined through their inhouse Ryland Mortgage Group who fudged the paperwork to get it approved by stating that we were renting our existing home? Something we never told them. We stated we would sell that home but they knew what would work best. At the closing we found out that Ryland Mortgage had already sold our Mortgage or 484K to Country Wide Financial. Ryland then immediatly proceded to plumment the home prices undermining the home value. We lost 135K in value and equity thanks to Ryland tanking their home prices. So now we're upside down on the Mortgage. Country Wide won't do nothing for the loan because it's lost it's Equity.
Another issue with them was the terrible quality of the home. I specifically asked them and their assigned builder Rep if they used illegals to build their homes? He laughed and stated "they work better than our workers?" I said I wasn't happy about that and found problem after problem during the building process which I tried to get them to fix. They addressed most of the issues but they were still inferior fixes. Another hall of shame thing Ryland did was have a provision removed from the Buy Laws which allows home owners to place "For Sale" Signs for thier homes. They basically denied us the ability to Market our For Sale Homes! while they continued to have their signs in full view! Unbelievable.
I have spoken to several Attorneys, one recommended a Class Action due to a problem with thier initial Sales Contract but the financial Risks to me versus the possible gain were just too high. My strong advice is STAY AWAY from Ryland Homes. Build your own home it'll cost you a lot less and you'll get a much better Quality built home! Luckily Congress has just passed a bill to help out the distressed Homebuilders! Nothing for the home owner losing his shirt and life savings! LOL
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