- Report: #378721
Report - Rebuttal - Arbitrate
Complaint Review: Signature Custom Homes - Signature Development - Mike Nawar
Signature Custom Homes - Signature Development - Mike Nawar1000 Beltline Rd Irving, Texas U.S.A.
Signature Custom Homes Or Signature Development Or Signature Custom Homes - Signature Development - Mike Nawar Real Estate scam targets people who dont speak English Irving Texas
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For example, he buys a home for $100,000. And then he gets is appraised (the appraiser is in on this) for $150,000 and sells it to a buyer promising to make all payments the first year. He primarily targets non English speaking buyers and tells them that the terms are all in the contract.
He defaults on payments within months. The buyer usually has no idea what is going on assuming payments are being made. Property goes into foreclosure and he walks away with a huge profit as he is the seller and his son is the real estate agent. No one figures this out he is the seller and the real estate agent because he uses different company names with his son - so he gets paid twice over!!! And he buys land and does development so he gets paid again.
Buyer is left holding the bag. Be forewarned about this guy. He has done this one over 60 apartments so far and several homes.
Names he uses: Mike Nawar or Makram Nawar
Companies he uses: Signature Custom Homes, Signature Development Corp, Signature Estates
This report was posted on Ripoff Report on 10/06/2008 11:37 AM and is a permanent record located here: http://www.ripoffreport.com/r/Signature-Custom-Homes-Signature-Development-Mike-Nawar/Irving-Texas-75061/Signature-Custom-Homes-Or-Signature-Development-Or-Signature-Custom-Homes-Signature-Deve-378721. 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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