I contracted to purchase the last spec home with this company in new subdivision in Raleigh, NC. This house has been sitting on the market for over a year now, so they were willing to come off of the asking price. When the price was agreed upon, I paid my earnest money deposit of $1600.00 and proceeded to get everything to the mortgage broker in a very timely fashions; sometimes before he even asked for the information. Seeing as I have been through this process before, I knew the information that was needed to make this sale possible as well as quickly and efficiently.
Well, my pre-approval letter clearly indicated that my ex-husband must refinance our home before I could purchase this home and was supposed to happen. Unfortunately, the refinance fell through and I opted out due to the contingency, since it was my legal right to do so. Well, the mortgage broker and the builder decided to buy down some things to make this happen. During this time, I was about to be homeless, but with me being 5 months pregnant (at that time), it was not an option. I was able to extend my lease on my apartment for an additional month. My closing date was set for March 13 and I had everything ready to go on my part. In the 24th hour, they pulled my credit report one more time and it appears as though my credit had fallen drastically due to no fault of my own so I was unable to purchase the home.
Knowing the real estate laws in this state (I am a former agent) I knew that I was entitled to my funds being returned and it even states this in the contract. I talked to the agent in that subdivision and informed him that I want my money returned and he proceeded to email the president and the president told me no because of "all the money they spent to make this happen, but they were willing to 'hold' my money and I could purchase a house in 6 months." In doing this, I would sign a release of their property and if I cannot buy a home, they get to keep my money. Again, this was not an option because once the close did not take place, I had to find a place to live. Being pregnant, I signed a 12 month lease which made more sense so my child will be older when it's time to move again.
This company does not care that I am pregnant and they have my money. And the money they spent on "repairs" was shoddy work that their contractors did in the first place and would have to repair regardless. I have decided NOT to release their house and make them continue to spend this money and they cannot legally sell the house since my deposit is on the home.
Well, I've since written several emails and sent a certified letter to the company. This company refuses to pick up this letter and they refuse to answer my phone calls. I will be headed to their office to speak with them in person of the rights they are violating. I have already informed them that the Attorney General has been contacted, the BBB has been contacted, and the NC Real Estate Commission has been contacted. I sure hope that the commission decides to terminate their license in the long run because they do not deserve to get over on people in this manner. And what's worse is that they will only speak to me through their agent.
Long story short, just say NO to Comstock Homes.
Raleigh, North Carolina