ED Magedson – Founder
SmartBuy Homes CorpNorth Richland Hills, Texas USA
SmartBuy Homes Corp M&J Custom Design Homes Owner Finance Not What You Bargain For North Richland Hills Texas
Beware Of Advertisement: "This like new, three bedroom, two bath home will be available around mid-October. Features include a large back porch covered in flagstone, epoxy sealed garage floors, custom trim throughout, and numerous updates." This home is not "like new." It has had apparent foundation issues since 2009 when the company last sold the home (check the movement on the sliding glass door (gap at bottom), master bathroom door will not latch shut, door to garage from house is iffy, front door gaps at bottom and southwest bedroom door will not close properly and there are cracks in corners of kitchen near bay window and over the entry to the kitchen. The A/C only cools when set to 70 degrees and the unit is outdated. There is evidence of severe water damage in and under the kitchen and bathroom cabinets. SmartBuy filed a claim on the home policy paid for by the homeowner for roof repairs after storm damage in 2011 and the homeowner never saw the check issued or the roof. If you get into financial trouble buying this way over market and overpriced home from this company they will accelerate your note for default immediately after the 5th of the month, charge you a "contract reinstatement fee" of near $500 plus late fees after just 30 days and post it for foreclosure- foreclosed after 60 if you can't make the reinstatement fee. You will want a full home inspection by your own inspector. The cosmetic remodel on the walls and floors is covering up a well used home valued at $87,900.00. Check the Tarrant County Appraisal site. You will be upside down @ $50,000 before you ever make a payment. The down payment does not reduce the purchase price it is in addition to the amount shown for the purchase price. And you will need to pay additional insurance to cover your loss In the event of catastrophic damage. Please don't let them scam you and take your money with this overpriced "deal." This company aims for people who cannot get a traditional mortgage. We lost @$50,000 to this company. Wish we had known this prior to our nightmare.
This report was posted on Ripoff Report on 09/21/2013 07:21 AM and is a permanent record located here: http://www.ripoffreport.com/reports/smartbuy-homes-corp/north-richland-hills-texas-76148/smartbuy-homes-corp-mj-custom-design-homes-owner-finance-not-what-you-bargain-for-north-1086253. 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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