Signed a purchase contract with Maracay Homes at Legend Ridge, Queen Creek and Val Vista in Gilbert, in November 2006. Three times I was told, if I have to cancel contract, salesperson always stated that I would simply lose my $15,000 earnest deposit, and could walk away, including when I specifically asked this at contract signing.
February 2007 - wrote letter descrbing my concerns and unhappiness with home to VP of Sales. Never gave me the courtesy of a response.
April 2007 - circumstances changed greatly due to promotion that came with huge responsibilities and frequent travel, and greater possibility of moving out of state.
June 4, 2007 - due to circumstances, unhappiness and non-confidence in builder, I asked to cancel contract and walk away from $15K earnest. Salesperson went ballistic and said she could not have any more spec homes (many in community) and that they would not only take my earnest $$, but sue me as well (though contract says they can only do one or the other.)
They informed me they would sue me if I did not buy the house, via email and letter; contract says they have option to take legal action, but never mentioned or pointed this out like they did paragraph about loss of earnest money if contract canceled.
By now, housing market worse than ever and I have not sold my current house, nor can rent it. They are forcing me to buy this house- as of 7/5/07, I will have two homes, two mortgages, and one income, leaving me a few hundred $$ to live on per month, unlikely I can sell either home at this point. Builder is now forcing me to buy overpriced home that I absolutely do not want whatsoever, as they are desperate for sales.
Buyers beware - be sure at the end of an 8 month build period you won't have to cancel for any reason like moving or not selling home, or this builder will force you to buy or sue you.