On December 18, 2010 My wife and I went to theLas Brisas community in Goodyear and signed a purchase agreement to build a new home. We paid a $3000.00 earnest deposit on that day. We were sent to the design center 1 week later to pick out our upgrades on the home. We put down $16, 467.00. We were also putting down $65,000.00 cash on the home and financing $160,000.00. My wife and I both have 840 credit scores.
Taylor Morrison starting the construction of our home without our loan being approved. They said that is the way they do business. Taylor Morrison wants us to amend our taxes to show my wifes income on another form. We do as they ask and the bank denies our loan. The loan consultant told us not to worry because the other bank she is applying to knows our situation nd they are fine with the amended taxes. The loan consultant comes back to us and tells us we need to amend the taxes again not to show any of my wife's business expenses. The second bank also lowered our loan to $140,000.00 which means we would have to come up with $20,000.00 plus the $65,000.00 we were putting down already. We didn't have another $20,000.00 to put down.
We senta certified letter asking for our money back per there purchase agreement. It clearly states in the agreement that Taylor Morrison is not to start contruction on your home until your loan is approved with no contingencies. We never got to the point where our loan was aprroved with no contingencies.
After 45 days and no response, We filed for arbitration with Taylor Morrison. This has been the biggest nightmare of our lives. All we wanted was our $19,467.00 returned so we could move on with our lives. With arbitration fees, I am now out $22,017.00 to date and it is not over. It is September2, 2011 and we still haven't had our arbitration hearing. There lawyers keep stalling and delaying the arbitration hoping we will give up.
Please, anyone thinking of buying a home from Taylor Morrison, just walk away now, before you end up like we did. You're out $22017.00 and still haven't go your new home to move into.
Don't go to TAYLOR MORRISON for your home needs!