As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
I thoroughly recommend Margaret Johnson Arndt, an investment advisor who is subject to US SEC regulation. She has assisted me with my portfolio for many years. Look her up online; she's a well-known figure.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
I was just reading an article that a lot of AirBnB investors are taking homes away from families. They're willing to pay sometimes 4x more than the original homeowners price because they'd make that 4x and more back by putting it on AirBnB. This seems like it might've been the case, but not sure...
Unethical? The whole point of a contract is so both parties are protected. They are in your advantage but there is one caveat. You have to actually read it before signing it.
@@stuwest5862 The contract could've said "We have the right to murder you for our convenience if we feel like it." So let's say they murder them, does it make it right just because it's in the ocntract
It’s true!!! My husband knows him personally and we were building as well and guess what???? Another new builder did us the same way, but my husband and I didn’t sell our home because Donnell warned us and also told us to look at our contract and guess what??? The contract was identical!!! So they are giving us our money back. The only thing I can say is, we just wasted our time! Thank you Donnell!!!! People keep posting and sending to EVERYONE who is trying to build!!! BUYERS BEWARE!!!!!
The company who was building their house basically took their house and flipped it, using the buyers money to fund their venture. I am sure that many other companies are doing this. This is why it is important for all consumers to have knowledge of the law and contract analysis.
@@freeisalwaysme I am saying they should have general knowledge of the laws surrounding their situation and the contracts they are presented with. The least they should do in make sure they read through it carefully. Any part that is not understood, they can research it or run it by an attorney.
@@terezobert2101 The coupled paid for the lot and the home that was to be built. The builder then said they cannot move forward with the plans, giving them a made up but arguable reason. The builder who did the work (which was paid for my the couple) therefore owns the work he has done thus far, which is not tied to the lot purchase as well. Therfore, the builder is out of the contract and free ro do whatsoever he wants with the newly built home, as long as it is paid for, which he will do by getting a bigger payout price from someone else.
They basically USED the couple as a BANK to fund the building of the house, they had NO intention of ever selling it to them , they knew it would sell for more, that was the goal from day 1.
The wife designed the house on the inside and the builder used their money and ideas. They stole their design their money their time and their dream. They should sue your all the money they spent on Air b&b and the apartment month to month cost and the money they put into that house. Plus punitive damages and charge them for design fees
Same thing happened with my wife and in Dallas. Started the process in April of 2021. They didn’t break ground until February of 22. We had put down 22k. The house was 435,000 4705 sqf 5 bd 3car home at the signing of our contract. At ground break the same home was 667,000. To build. We got a notice of a build delay and asked if we would like to back out. We said no we will wait it out. Two weeks later received notice our 22k was being refunded and contract canceled because we missed a meeting we knew nothing about . When we got our check received a call and asked if we were still interested and that it could be sold to us at the current build price. I went left field and the police called on me. They understood and didn’t arrest me. I filled a grievance and complain at the bbb. We purchased 1.5 acres in aledo , Tx and can build our dream home at the time of choice because we own the land
I built a house a few years ago and I can't even imagine going through all of that, just to have it taken away like that. How stressful and heartbreaking. I hope they win their lawsuit and are able to get their dream home.
This is bullsht. My guess, since this was their dream, forever, home they designed a stunning house. I can tell it’s very aesthetic. The color choices, cabinets, paint colors, layout, everything they personally and painstakingly chose is very trendy right now. The builder realized they could make hundreds of thousands more selling it based on the fact that these people designed a specifically gorgeous home. I hope they prevail in court.
@@wood8715 …I hope a judge decides the contract was breached illegally because it dang sure wasn’t done for the builders “convenience.” The easiest, most convenient option would have been to close that week. If the sale was inconvenient that would mean the funding fell through and the builder had to wait for them to secure a new loan. Or their old house didn’t sell and the builder had to push back closing until that happened. Obviously none of that happened so I sure hope this couple gets justice. I can’t imagine my home being sold out from under me like this. Texas is a uniquely corrupt state though…with laws in just about every sector favoring the corporation. Such a sham. This story truly pisses me off…it’s pure greed and injustice.
They need to be awarded the cash amount the builder sold their house for, PLUS REIMBURSED FOR ALL THE INCONVENIENT EXPENSES THEY INCURRED INCLUDING ALL COURT AND ATTORNEY'S FEES, PLUS, BUILD THEM THE EXACT SAME HOME ON AN ACRE LOT OF THEIR CHOICE, ABSOLUTELY FREE OF ALL CHARGES - PAID IN FULL! LORD, LET IT BE SO.
This is heart breaking to say the least! This is one of the reasons I encourage my buyers to buy a home that's already completed. It's not the same, and people should be able to build from the ground up and reap the fruits of their hard work! I know this is a difficult time for them, but I believe their Attorney has a strong case and they will prevail. Although a temporary setback, they managed to sell their previous home and hopefully made a great profit. Once this case is settled I hope they they can buy the biggest best property wherever they choose!
One company did the same thing to us but different way. They took our down-payment for 7mths then increase the price to what we no longer qualified for, then they sold the house for way more. We moved from a different state and changed jobs, the mth of closing is when we learnt all this. We had to spend another 6 mths in the bidding war almost homeless and bought a house we never planned on but given the market we had to compromise. These builders are such scammers. It's unbelievable how these things are allowed to happen. I HOPE THIS FAMILY WIN BIG!
the best part about life is God/ universe has the last say ...we are surrounded with good & evil !! it has to be a balance ,but we all get back what we put out in the world..good karma or bad karma & ppl need to becareful who they are f'ing over it can have a pretty bad outcome ..depending on that person divine ranking ,some ppl are completely off limits b/c of their life purpose/ journey here
The text is from their realtor. This was a buyers agreement and not a custom home contract. I have a feeling their is more to this story. I’m guessing the builder’s costs skyrocketed and he would lose money at original price so they raised the price and these folks couldn’t afford it. It definitely sucks but a builder cannot sell houses for less than cost.
Bless them for still being able to smile and be okay. We're renovating a little bungalow and got ripped off by our contractor and I was just falling apart. They really seem to be okay, I hope they take the builders to the cleaners and come out on top. So much stress, my heart really goes out to them.
Unfair? We live in a society based on laws. Contracts exist to protect both parties and signing it means you agree to all the terms. Explain how doing everything perfectly legal is unfair?
Yes, the word convenience covers anything they want it to mean for it to benefit them. Same thing as "Special fees" leaves the door wide assed open for whatever they need it to mean in a court.
@@abimaellopezmaylord27lopez7 Yes, however they had a contract deal so that doesn't matter. I guess you could play it the other way and tell the builder wood prices and fuel were lower five years ago so you should get it built at lower cost then.
The reviews for this company on BBB says it all, be encouraged my brother and sister this was a blessing in disguise! Your new home will be bigger and built better!
I don't understand how builders can get away with doing this.... canceling a contract for convenience or greed???? especially if there's a legal binding contract. I hope this family wins their lawsuit against this builder.
It almost seems like the Developer got a higher paying customer. IOW, this couple paid $200,000 for the house and the developer found someone who would buy it for $400K. That's what it sounds like.
These builders have been doing this for years. It's more apparent now because of the shortages and delays reducing the profit margins. IF the Bank financing balks at major cost increases. The builder can cancel the contract. Arbitration takes years to settle usually in the builder's favor. Lawyers get paid.
These people are SO GRACIOUS and I really feel sad that this happened to them, but I hope that the builder has to reimburse EVERY SINGLE PENNY that you spent to be able to get this home, INCLUDING the property that you SOLD, as a deterrent to any other builder that would try to pull such a stunt. So sorry this happened to your family. I hope the place you end up getting is even better. 🌷
I recently closed and 1st time home buyer. I was stressed out even after signing because I saw the homes value go up after they started building. I'm so sorry this happened to them. It's stressful enough without this so called rule they used. I hope they get more than the value of the house they were building.
What a beautiful home! This must have been incredibly devastating for this family. I hope they find a new home soon and that the builder is sued up, down, left and right!
That's incredibly heartbreaking. I couldn't imagine the time, the effort, all of the hours that went into drawing up the designs and selecting the pieces for each detail of their home. From what we could see, that house was STUNNING. I pray the Lord places his hand over this young family and that they win their lawsuit, in Jesus name. Imagine building your dream home just for someone to rip the rug right from under your feet and now someone else is living in it. That's despicable.
@@dcg590 You have no functioning cells in your brain. Didn't you hear the lawyer in the story say that what happened to this couple was not industry practice? You'll eat crow when this couple gets a substantial financial settlement. You ought to be ashamed of yourself. You are vile.
"Canceled for convenience" is basically "Prices are going up like crazy and we would like to screw you over and resell at a much higher price". Greed, plain and simple. It is happening to more people.
This lawyer sounds like he's on the builder's side. This is outrageous. This should be illegal and the builder should be prosecuted. If the the Market had fallen dramatically in that area...would the buyer have been able to negotiate with the builder for a lower price or walked away from the deal? No. The builder would have sued them for breach of contract if they tried to back out.
did he? even when he stated that the consumer has favor to win the suit given the contract stipulations? all in all I just want peace & justice restored for all
Unfortunately it is in the contract that they can do just what they did. Getting a construction loan before thr home is built and closing on the loan could have prevented this problem. When we hsd our house built the builder was only offering construction loans thus locking him into any price changes prices exploded but the loan already closed to start the build
They going around scramming people's. Thank you both for coming forwarder with this information so no one should do business with this company. They need to be reported to BBB. I know you all will win sorry that happen to you and your family I will be praying for you. 🙏
It's a blessing in disguise. Sue them for everything you got (financial, emotional, psychological etc) They will never again repeat this. You will walk out with millions. Rest assured- No stress!!
Statement from Kindred proves they canceled the contract because of money. The cost to build with the increase cost in materials ended up being more than the contractal agreement they had with this family. They couldn't eat the loss so they canceled out of convenience. Hope the family wins big in court.
I guess integrity isn’t one of their company values. Just because you can, doesn’t mean you should. Now their name is splattered across social media and I’ll definitely remember it.
Builders have been doing a 28% profit...I'm sure there was a clause in there about higher costs and did they offer the house at a higher price to the couple? My guess is some rich Dbag came and waved some money around bribe the builder.
You should send those people a link to this & tell them YOU NEED TO GO PUBLIC TOO & SHAME THE BUILDERS WHO USED YOUR MONEY TO BUILD YOUR HOUSE, THEN BACKED OUT LAST SECOND! If more of these cases were ON THE NEWS then builders would be more careful with next customers.
This happened to me with Chesamar homes in Humble, Texas in the Balmoral community. They cancelled my contract days before the walk through and closing. They stated that my salary was significantly different from one year to the next. It was about a 20k difference. Everything had been approved for months. The house was posted the very next day at a much higher rate. They figured they could sell it for more as it was the model home. I was completely stunned that they could do that.
This could eventually be a win for this couple. Soon, this home will be worth less than the original contract price. There is a housing bust happening right now. I pray you are fully restored financially and physically.
It’s sickening to see them go through this, the lesson I learned from this, is buy the lot first. Then have the contractor build on YOUR lot. Buying them both together on a pending contract looks like a risk I’m not willing to take
Yea you can buy the lot separately out right for you to own but the builder can pick up the house and move it else were, many houses in Texas are on slab foundation, which is easy to remove and pick up house!
This couple and their attorney need to check how many other people were scammed by this company. Note to all entering into a Contract: read the fine print and better yet employ a lawyer or someone who can read and interpret a Contract - its in your interest to do so.
Yeah there’s no way I’d do all this without legal counsel. Hopefully others would learn from their experience. Also, the BBB rating is low. That’s another clue.
That's insane. They had them uproot their lives for almost 2 years (which costed money) , cancel the contract in April and its now June it's sold for more. It was only "convenience" because they were being paid more than initially. I pray this couple win the lawsuit!!!
My parents started building their home a little before covid, a house very similar to theirs. The people that signed their contracts to build with the same contractors and paid their deposits after them had this very thing happen. They were told they had to pay $100,000 more for their homes to keep the contract, they are now suing their builder also.
It is about time to contact your congress to make sure future homeowners are protected from this so called “cancellation by convenience” by having it as an illegal clause, otherwise, if it is allowed to exist, it will continue to have negative implications to future homeowners. Your Congress should enact a law if you want this clause be illegal in your respective jurisdictions.
They don’t care. Their loyalty will always lie with the one who holds the purse strings regarding re-elections campaign contributions and all kinds of “off the record” perks. Majority of politicians are bought and sold to the highest bidder, which is why this country is going to hell in a hand basket
This home builder would have to prove in this civil suit that costs etc were indeed rising. This couple had this home custom built. So that will weigh with the court. And the fact they kept their end of the contract which they will be able to prove. Future buyers will be reluctant to go through the heartbreak this couple endured.
Contract. That's why is smart to get a lawyer to read over the contract although that would be extra money its worth it. This is flat out wrong. They builder cover themselves per contract and were proably planing to do it all along.
@@KeishaRose you sound racist to the WWhite's Man's .............. this did not happen to me or any JUAN i know ..... so pleaes stop the hate ........ present byeden would not this i will report you to the office of kumallah ......
@@KeishaRose it was cheaper for me to use a realtor as they know the fine print and have in house attorneys to also refer to no retainer needed. People thought I was crazy to have a realtor deal with the homebuilder and be there for inspection. It was the best decision. 9 years later, the same realtor sold my house for more than double what I paid and got me into another new build for less than half of what I got. It’s been a year in my new house and no mortgage. My advice, find a good realtor. The good ones look out for you and get you out ahead.
Your not the FIRST in Texas 20 families sold their homes and were ready to sign the final paperwork for their homes. A company came in with CASH and brought all 20 under construction homes. Never sale your old home until you sign and get the keys of your new home.
That’s easier said that done. A lot of builders won’t let you sign a contract without agreeing to sell your home. I had to sell my home and get an apartment for 6 months. Luckily my builder wasn’t crooked like this. They let me go into my house with the equity Since prices rose during the duration of construction.
What if you won't do that unless they remove the convenience clause. You will sell your old house but for your safety and protection the convenience clause must also go. Also how do things change if you own the lot?
@@tanyas2670 What if you wanted to keep the home as investment property? This technique sounds so strange to me. I can see why it’s easy for builders to screw people over.
Buying a home is hard enough especially if you are building new home, they waited almost 2 years just for them to give their hime to someone else because there was a larger profit. I feel for them
Even if they read it, it's said we can cancel based on convenience, who even knows what that truly means even the lawyer said he's never seen that before. Of course if it said "we can cancel if we feel like it! To sell ur home @ a higher cost bc the market went up!" Then u can blame the consumers
Yeah a lot of ppl don’t understand the jargon of a real estate contract so it’s a good idea to hire a licensed real estate agent. They’re familiar with contracts and can recommend you don’t enter into one if it’s not in your best interest.
True, nevertheless the lawyer even said he never heard of anything like this. The company had them sell their house. Who would think a business would do something like this. But your right understand you contract.
@@bettysmith4527 yes they can but it will be difficult ti win. I have personally seen those contract and they are totally one sided. Once you sign you agree to the content.
My mother, Bless her heart, Hired a contractor to build a Charter School. Long story short. Her ran off with all the money and filed bankruptcy. Mom couldn't sue him and she had to pay back the loan, for the money he stole. Definitely need better laws against these thieves.
Not even my house and this boils my blood. If I was the judge, I would simply award the couple the house fully at the builder’s expense. But you just know that these good folks will not even come close to being made whole, let alone receive anything for being defrauded. Society is so corrupt. Those builders deserve to rot in hell.
This story is so heartbreaking. Those builders are motivated by greed. Most likely they got out of the contract with this family because, they were offered more money. They will get theirs. And this Beautiful family, will get something greater.
@@dcg590 The job logic is obvious. And yes everybody is look for extra money. But at what cost??? Do you lose your morals and self respect just to make money??? It is so sad what state this world is in. That house was under a contractual agreement. They signed a contract that both parties agreed upon. And the family thought that it was binding. They were lead on for over two years...right up to closing time. They even sold their old house. I have no dog in this fight. But my heart goes out to this family. I truly emphasize with them.
I hope this couple’s lawsuit really hurts this sham company big time. They have absolutely NO ethics, conscience, decency or integrity whatsoever. I hope this never happens to anyone else. How many other people did they do this to?
Our current administration leading the country is treating the whole population of the US like this ( except those illegally coming in through the southern border of course). Lie, cheat, & steal is the common thread now.
I am not even halfway through this video and I’m willing to bet they canceled it because they realized they could get twice as much than what you guys probably agreed to. I’m an agent in Dallas and I watched those prices go up and it’s quite sickening when this happens to good people… I remember contracts being canceled over a year ago but did not know it was still happening this recently, wow! I’m so sorry this happened to you hope they get their karma back 10 fold!! I will never recommend any clients to them. Now let me finish this video…
As I figured a customer saw this house and offered more. Greed I believe is the evil behind this void of contract. The contractor didn't think they would lawyer up. I pray this good looking couple win!
People keep saying you should have read the contract. But if they refused to sign it, no problem. The builder would have just built the house for someone else. If they had owned the land then had the builder build on their property it would have been a whole different ball game. But almost no one builds homes that way anymore. This is a wonderful learning lesson for other potential buyers to avoid in similar circumstances. Sad situation, because there are even big tax ramifications. Because they sold their house and are not returning the money into a similar property so they might now owe taxes on the whole gain from selling the house! Crooked and yet still legal in Texas.
I'm in North Carolina and i'm building a 500 sq ft home for my daughter for when she turns 18. She's 13 now, but the plan is to Air BnB it out, and use the residuals for her college + first car. I'm paying cash for the build, and i'm searching for builders now, and they all seem a little shady. Like fast talking lemon sellers. One tried to peer pressue me into getting financing through them, so I can keep "money in the bank". Another tried to get me to sell my current home. Like why, i'm not looking to get financed..... None of it make sense to me. lmaoooo... I think im going to wait this weird economy/housing market out.
@@LuvOldschoolRnB I’m with a construction company in Texas that builds homes. If you have the money for the build there should be no problem. Figure out if there’s permits required in the area you want to build in and I’d recommend buying the land first if possible. So that you can build whatever you want on it and take as long as you want to get it done. But yeah don’t place any deposits without a contract in place ever.
@@sarinasmall6619 when you build in a community, you don't own any of it. You finance through a bank and end up with a mortgage that you can be paying off for decades. It's becoming rare these days that people purchase land, then find a builder to do the work because a bank will make it harder to get the loans approved for that. They prefer mortgage loans because if you miss one, they can snatch the house back and resell it.
@@AB-ij2mv Yeah....it just took such a heavy toll on us, and then her parents, who she was very close to, both died unexpectedly, and all of it was just too much. She started on prescription drugs for her anxiety/nerves, then she graduated to abusing all sorts of prescription drugs. When my health insurance where I work realized she was doctor and pharmacy hopping, she was cut off for prescription drug coverage....SO, she began shoplifting to pay for the scripts out of pocket, if one can call it that; the money for it was all ill-gotten. Long story short, I got tired of bailing her out of jail for shoplifting, only for her to do it again a month later; I just could not take it anymore, it was affecting my own mental health, so yeah...."ex-wife."
The Termination For Convenience Clause must be stated in your contract and signed by both parties for it to be legal. If you agree to a termination for convenience provision, you should consider negotiating a “termination fee” or “wind-down costs” to balance out the potential costs or risks associated with an unexpected termination.
This is what happens when people sign a builder’s contract. Builder contracts are always in favor of the builder and I bet you, even though he didn’t disclose it, the builder was able to back out because it cost him a lot more to build a property instead of what he contracly agreed to. Builder contract loophole. It’s happening everywhere.
It almost happened to Us in San Antonio, Tx…The sales office called and said “if we didn’t close by such and such date they would cancel the deal”. I now believe a lot of the closing issues were to set that in motion…Fortunately we closed after their delays without an issue…
No, it’s because housing prices skyrocketed in the last two years. So they listed the house at $300,000 more than what this family was getting at four.
People are getting mad at the builder for no reason ! 8:28 MOST IMPORTANT LINE IN THE INTERVIEW Politicians make the law! Republicans want de-regulation and support businesses over people
Same here! Our home started as a spec house (our realtor talked us into selling our home before we bought a new one) and two weeks later the COVID shutdown started. Almost all the homes on the market were pulled off and the spec home felt like our only option at that point. The amount of time we put into it going over the few options we had left felt never ending. I couldn’t imagine the time that this couple spent on their custom home that took over 2 years to build. How devastating!
I took pictures weekly too and when the builders attempted to cancel the contract due to not being able to get material we had so much proof of progress that took place and hired a attorney for breach of contract and our home was delivered to us.
My mom experienced this same thing when i was about 8 years old she invested all of her life savings into a dream home she designed across the street from the lake, the builder took forever on the home as is while we were renting about a mile down the street, I remember it feeling almost like 5 years of processing. Eventually the house started to form and we drove past, walked the dogs etc by it almost every weekend to watch her beautiful brick house being made, eventually they got an email saying the foundation was faulty and had to be redone and the contract was sold to the bank and they lost the house and everything they put into it. 1 year later with no renovations done or anything to foundation, the house sold for triple what it was worth when first built and saw a happy family living in my moms dream home that she worked all her life for. I hate people. I wonder how life could of been if it weren't for crooks.
Contractor cancelled it so he could sell it at a higher price and probably because they were black. I was in a similar situation, but because my contractor had gotten to know me and my family. he wouldn't let the other buyer talk him into this shady move. I designed my own plans and had a 5 bedroom, 3 full bath, with an oversize playroom 2 story put on a corner lot. Nobody tried to get that lot until I got it and the contractor held the lot for me for a year before even building. The contractor like my plans so well that he offered to buy them from me and I sold them to him. Anything can happen when you work with people who have no fear of the Most High and Integrity.
@@nezza1963 I didn't boast about myself and you must have misunderstood. Could you not see the power of YAHUAH at work here? There's a whole lot more to this story, but it's to long to share. Everyone who knows me is aware that this was the hand of YAH. that helped me and my 8 children. So if you feel that I'm bragging on myself, I'm sorry. Yes my contractor is a nice white guy, the other guy who wanted my plans is white, my realtor is a black women,and I am a black single woman. See, I understand that my GOD doesn't care about color. I mentioned color to help readers understand. There's nothing wicked here. Besides, you are aware that He works through us , right?
This behavior on the part of the builder is not rare. I have heard of it happening several times. Many times the builder cancels the sale, the closing, at the last minute using the excuse all the building materials, appliances, faucets, doors are not available due to the supply chain shortages. Then when the parts come and are installed, the builder sells the house at a higher price. Many times the buyers sign off on the missing parts, just to get in the home - parts like no garage doors, front doors, etc. are missing but the buyers are so desperate to get the home, the forgive the missing parts. This is especially tempting for the builder to do when homes were going up $3000 to $6000 a month - they say sorry and then turn around and make more money on the house - selling it for $50,000 more than it had been under contract. Rotten, unethical builders. Also - it costs the buyers more money when they don't get the house when they were supposed to, because now they have to arrange additional housing, they have additional fees and expenses, sometimes moving several times before they find suitable housing. As an ex-Realtor, the advice I give to those buying a home, never, never buy as much as you possibly can buy because there are ALWAYS unexpected expenses that come up - and you may end up in trouble financially. Buy only as much as you can COMFORTABLY afford. My husband and I saved up money in an emergency fund and then we bought low enough costing homes that if one of us lost our job, we could limp along financially for 4-6 months using our emergency savings until we both had jobs again and our income was back up.
Criminals at every turn. May they be blessed to win that law suit without hesitation. Heartbreaking for the family. Yet they are still so calm and composed. Share, share this news with everyone.
A friend went through this in TN. She purchased a home through a builder, it was a few weeks away from being completed and they reneged on her after the value of the homes there increased for that subdivision. They canceled her contract and now she is currently suing them them.
That is DISGUSTING 🤮❗️ I’m so sorry to hear about this. May God find you a Better home 🏡. Put God first in EVERYTHING you do and He will Provide ✝️🙏❤️😊❗️
Was told our builder considered doing the same thing but someone high in the company said we don’t do people like that. We were told at closing that the house was worth $70,000 more than what we agreed on.
My builder tried this with me as well, I signed my contract in April of 22 to be close in December. As of October the builder didn’t start the process, so I got a lawyer to extend the date before my initial contract expired. I am still waiting as we speak and have updated the contract twice. We are waiting on electricity, because the builder said FPL is waiting on a transformer, we are waiting for two months… still nothing. Hopefully we can close, I am trying to get FPL to give me more info, but they can’t provide details
That is fricking dirty! The couple did such a good job with their decorating taste and skills, someone coveted that house and offered more money than the owners were paying and the dirty builder stiffed them! I hope this couple buries this builder and the people who undermined this couple regret the wickedness they did!
I've seen too many stories like this and it's absolutely horrible for the would be buyer! For any contractor that conducts business in this manner, I hope for every cancellation, they suffer ten bad deals behind it...something need to humble these lunatics
The calmness exhibited in the couple’s interview tells me they know their about to get paid. But I feel like the Attorney(s) representing the developer/contractor are going to drag this out in court.
I live in NJ and also a builder...I'm not understanding this. A builder or buyer can't just cancel a contract... especially under these circumstances a week before closing. The builder probably got a bigger offer but that doesn't matter when a home is under contract and out of attorney review. They absolutely need to sue, get the house and then sell it at a higher price themselves. Always get a good real estate attorney when buying or selling a home folks!
Wow. That company used that couple to fund their project that they could basically cancel at any time with the couple, just to make a profit without any personal out of pocket expenses. The love of money is truly the root of all evil. Smh
Couple didn't fund the home. The builder only asks for a small deposit. They build the home and then all parties close so the builder can get paid. However, even if prices go up, the contract locks buyers in the agreed price. The builder cancelled because they knew the home price went up from 2020.
@@tangotea7192 The couple is the only party that walked away with nothing. No old house, no money and no new house. I still don’t understand why the builders would back out even if the prices went up. Why, because they can’t charge more because the contract was already signed? All I know is that this couple lost all of their money, but all other parties got paid somehow.
Hopefully they score huge in their lawsuit against the builder. A young family, working hard to achieve their dream home should prevail and be awarded enough to build another home with some to spare.
@@prettyacct I understand that on it's face. However, they screwed these people over big time and they had no home to go back too. They knew they were going to screw these people over, that's why that contract was so one sided! That's the evil part!
What’s so cold about this is in the contract, they had to sell their home in order to buy this one and Kindred Homes didn’t even offer them the option of buying the home at a higher price. I pray they get millions!
Our Father in Heaven will give you way more then you can ever ask in think. Wrong and evil doers have a very special place reserved for them. I'm so very sorry that you have to go through this. We will be praying for you and your children. Can't wait to see the pictures of your new and better home!
@@cameronlewis7029 Jesus is Lord. I am boldly commenting on the name of my God. Repent or perish. You won't silence me for speaking about my God. You people are a hot mess. You choose not to believe in God and hate and try to silence those who do. I will speak my mind just like y'all do.
When they forced this couple to sell their home before signing the contract, should’ve made the contract 100% binding on both sides. This is political corruption- plain and simple.
We had a developer of a waterfront condominium pull this back in 2006. Was fully sold out with some buyers on a waiting list. Almost all the buyers backed out. Developer ended up with NO buyers and a dark building for the next ten years. Very few of the condos were actually occupied. These poor people to have this pulled on them at the last minute. Pretty sad. Hope they win their suit!
Tracy and Mr Darnell make sure you file a report to make note of this with the better Business bureau online make sure you get this paper trail started
Ha, ha! Abbott isn’t going to take the side of the consumer when he’s well known to be on the side of businesses. Why do you think hospitals can’t be sued for more than $250,000 even if they destroyed your body? You want a different system, vote different!
My daughter broke ground for bldg a new town house, I'm sharing this video with her now. I'm praying that she doesn't fall in that dilemma. My heart goes out to this couple, things will work out good for them. Very sorry. Scamming comes in all ways.
![โอ้มายก๊อด! ไม่ถึงชั่วโมงหมดเป็นแสน 😅 [cc] แดนแพทตี้ SS2 | EP.42 |](http://i.ytimg.com/vi/OH2ShXfO6tA/mqdefault.jpg)
As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
@@MarkFreeman-xi3rk Could you kindly leave your investment advisor's contact information here? I absolutely must have one.
I thoroughly recommend Margaret Johnson Arndt, an investment advisor who is subject to US SEC regulation. She has assisted me with my portfolio for many years. Look her up online; she's a well-known figure.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Wow I can't believe they cancelled the contract and then sold it for a higher price. That should be illegal because that's completely unethical.
I was just reading an article that a lot of AirBnB investors are taking homes away from families. They're willing to pay sometimes 4x more than the original homeowners price because they'd make that 4x and more back by putting it on AirBnB. This seems like it might've been the case, but not sure...
Unethical? The whole point of a contract is so both parties are protected. They are in your advantage but there is one caveat. You have to actually read it before signing it.
It's Texas this state do a lot of UNETHICAL 💩 to black and brown people
@@stuwest5862 b.s.
@@stuwest5862 The contract could've said "We have the right to murder you for our convenience if we feel like it." So let's say they murder them, does it make it right just because it's in the ocntract
It’s true!!! My husband knows him personally and we were building as well and guess what???? Another new builder did us the same way, but my husband and I didn’t sell our home because Donnell warned us and also told us to look at our contract and guess what??? The contract was identical!!! So they are giving us our money back. The only thing I can say is, we just wasted our time! Thank you Donnell!!!! People keep posting and sending to EVERYONE who is trying to build!!! BUYERS BEWARE!!!!!
The company who was building their house basically took their house and flipped it, using the buyers money to fund their venture. I am sure that many other companies are doing this. This is why it is important for all consumers to have knowledge of the law and contract analysis.
I'm confused what happened here cause don't they own the land?
That's a big bar to ask for everyone to be a contact law specialist.
@@freeisalwaysme I am saying they should have general knowledge of the laws surrounding their situation and the contracts they are presented with. The least they should do in make sure they read through it carefully. Any part that is not understood, they can research it or run it by an attorney.
@@terezobert2101 The coupled paid for the lot and the home that was to be built. The builder then said they cannot move forward with the plans, giving them a made up but arguable reason. The builder who did the work (which was paid for my the couple) therefore owns the work he has done thus far, which is not tied to the lot purchase as well. Therfore, the builder is out of the contract and free ro do whatsoever he wants with the newly built home, as long as it is paid for, which he will do by getting a bigger payout price from someone else.
Bingo!
They basically USED the couple as a BANK to fund the building of the house, they had NO intention of ever selling it to them , they knew it would sell for more, that was the goal from day 1.
Truth be told! These contractors should be charged with fraudulent intentions. Another example of family wealth and legacy stolen.
Good point! Lawyer should use that in court!
You are so right
Facts and this is sad
The wife designed the house on the inside and the builder used their money and ideas. They stole their design their money their time and their dream. They should sue your all the money they spent on Air b&b and the apartment month to month cost and the money they put into that house. Plus punitive damages and charge them for design fees
In Colorado contractors who victimize their customers are charged criminally and placed on probation for fraudulent business practices like this.
Welcome to TEX-as, the home of no regulations.
Hey 👋 you 👀 lookin NICE!!!
888888888888888iik
white folks judges!
What about blacks who victimize Asian businesses?
Same thing happened with my wife and in Dallas. Started the process in April of 2021. They didn’t break ground until February of 22. We had put down 22k. The house was 435,000 4705 sqf 5 bd 3car home at the signing of our contract. At ground break the same home was 667,000. To build. We got a notice of a build delay and asked if we would like to back out. We said no we will wait it out. Two weeks later received notice our 22k was being refunded and contract canceled because we missed a meeting we knew nothing about . When we got our check received a call and asked if we were still interested and that it could be sold to us at the current build price. I went left field and the police called on me. They understood and didn’t arrest me. I filled a grievance and complain at the bbb. We purchased 1.5 acres in aledo , Tx and can build our dream home at the time of choice because we own the land
You filed a grievance? So they got away with it?
You owned that land is major bruh
I built a house a few years ago and I can't even imagine going through all of that, just to have it taken away like that. How stressful and heartbreaking. I hope they win their lawsuit and are able to get their dream home.
This is bullsht. My guess, since this was their dream, forever, home they designed a stunning house. I can tell it’s very aesthetic. The color choices, cabinets, paint colors, layout, everything they personally and painstakingly chose is very trendy right now. The builder realized they could make hundreds of thousands more selling it based on the fact that these people designed a specifically gorgeous home. I hope they prevail in court.
If you look up the house with the address, it is absolutely stunning and very expensive. But they will get something greater and bigger.
Yep, every tile and fixture! I'd be devastated! A week before closing!
@@wood8715 …I hope a judge decides the contract was breached illegally because it dang sure wasn’t done for the builders “convenience.” The easiest, most convenient option would have been to close that week. If the sale was inconvenient that would mean the funding fell through and the builder had to wait for them to secure a new loan. Or their old house didn’t sell and the builder had to push back closing until that happened. Obviously none of that happened so I sure hope this couple gets justice. I can’t imagine my home being sold out from under me like this. Texas is a uniquely corrupt state though…with laws in just about every sector favoring the corporation. Such a sham. This story truly pisses me off…it’s pure greed and injustice.
@@asianboii6838 whats the address, i cant find it
They WILL prevail in court, and later find out that their next home will blow their mind.
They need to be awarded the cash amount the builder sold their house for, PLUS REIMBURSED FOR ALL THE INCONVENIENT EXPENSES THEY INCURRED INCLUDING ALL COURT AND ATTORNEY'S FEES, PLUS, BUILD THEM THE EXACT SAME HOME ON AN ACRE LOT OF THEIR CHOICE, ABSOLUTELY FREE OF ALL CHARGES - PAID IN FULL!
LORD, LET IT BE SO.
In Agreement in, in the Mighty Name of Jesus Christ AMEN ❤️
Absolutely what I said. Free dream home. And extra cash.
Wow…you said that…let it be!
Ase
Amen
This is heart breaking to say the least! This is one of the reasons I encourage my buyers to buy a home that's already completed. It's not the same, and people should be able to build from the ground up and reap the fruits of their hard work!
I know this is a difficult time for them, but I believe their Attorney has a strong case and they will prevail. Although a temporary setback, they managed to sell their previous home and hopefully made a great profit. Once this case is settled I hope they they can buy the biggest best property wherever they choose!
One company did the same thing to us but different way. They took our down-payment for 7mths then increase the price to what we no longer qualified for, then they sold the house for way more. We moved from a different state and changed jobs, the mth of closing is when we learnt all this. We had to spend another 6 mths in the bidding war almost homeless and bought a house we never planned on but given the market we had to compromise. These builders are such scammers. It's unbelievable how these things are allowed to happen. I HOPE THIS FAMILY WIN BIG!
Just throw the whole fraudulent 'Kindred Homes' scam away. They all need to be under investigation. I pray this couple is blessed 10 fold.
Amen
They should check with Toll Brothers Homes they have really nice homes also.
YOU ARE SO ON POINT
Amen!! 🙏🏽🙏🏽
the best part about life is God/ universe has the last say ...we are surrounded with good & evil !! it has to be a balance ,but we all get back what we put out in the world..good karma or bad karma & ppl need to becareful who they are f'ing over it can have a pretty bad outcome ..depending on that person divine ranking ,some ppl are completely off limits b/c of their life purpose/ journey here
I just can’t believe they advised them VIA TEXT MESSAGE! Wow. How unprofessional.
Right!
That’s what I said. Where is the professionalism??? Being told that in a text message ? Wow
They are lying Cowards.
Right! That blew me, unprofessional 🚩
The text is from their realtor. This was a buyers agreement and not a custom home contract. I have a feeling their is more to this story. I’m guessing the builder’s costs skyrocketed and he would lose money at original price so they raised the price and these folks couldn’t afford it. It definitely sucks but a builder cannot sell houses for less than cost.
I pray everything works out for this family. My heart breaks for them.
Bless them for still being able to smile and be okay. We're renovating a little bungalow and got ripped off by our contractor and I was just falling apart. They really seem to be okay, I hope they take the builders to the cleaners and come out on top. So much stress, my heart really goes out to them.
That’s unfair, the convenience was pure greed, that’s it.
Unfair? We live in a society based on laws. Contracts exist to protect both parties and signing it means you agree to all the terms.
Explain how doing everything perfectly legal is unfair?
@@stuwest5862 unfortunately you have people that think it's a personal issue rather then legal issue. Or it's just a bot that is spreading fake news.
Yup greedy and unethical.
Exactly. I agree with OP
I dont know some...this is really a thing (fetish)
Greedy ass builders, pulled the rug on the couple just to resell the property/house at a higher price.. That convenience clause is so vague.
Ong
Yes, the word convenience covers anything they want it to mean for it to benefit them. Same thing as "Special fees" leaves the door wide assed open for whatever they need it to mean in a court.
@@Wooley689 it’s expensive because prices are going up like gas and wood
@@abimaellopezmaylord27lopez7 Yes, however they had a contract deal so that doesn't matter. I guess you could play it the other way and tell the builder wood prices and fuel were lower five years ago so you should get it built at lower cost then.
Love how they didn’t even call them.. they sent a text message 🤦🏾♀️ crazy. This is so heartbreaking for this family. I hope they win their lawsuit
That’s awful… Hoping they come out victorious and this company fails completely. What a cruel thing to do to a family..
The reviews for this company on BBB says it all, be encouraged my brother and sister this was a blessing in disguise! Your new home will be bigger and built better!
Can you tell me the name of this company so I can warn others
@@lizzysbeautyshowetc.6895 Kindred homes. And I believe this particular company discussed on the video is for the Texas areas ..
@@rolachell8712 thanks
@@lizzysbeautyshowetc.6895 you're welcome
@@lizzysbeautyshowetc.6895
Kindred homes was mentioned several times in the video !
I don't understand how builders can get away with doing this.... canceling a contract for convenience or greed???? especially if there's a legal binding contract. I hope this family wins their lawsuit against this builder.
Huh white
It almost seems like the Developer got a higher paying customer. IOW, this couple paid $200,000 for the house and the developer found someone who would buy it for $400K. That's what it sounds like.
In my opinion there's no excuses for this builder. None!
These builders have been doing this for years. It's more apparent now because of the shortages and delays reducing the profit margins. IF the Bank financing balks at major cost increases. The builder can cancel the contract. Arbitration takes years to settle usually in the builder's favor. Lawyers get paid.
They do this to blacks all the time! What's new...
These people are SO GRACIOUS and I really feel sad that this happened to them, but I hope that the builder has to reimburse EVERY SINGLE PENNY that you spent to be able to get this home, INCLUDING the property that you SOLD,
as a deterrent to any other builder that would try to pull such a stunt.
So sorry this happened to your family. I hope the place you end up getting is even better. 🌷
I recently closed and 1st time home buyer. I was stressed out even after signing because I saw the homes value go up after they started building. I'm so sorry this happened to them. It's stressful enough without this so called rule they used. I hope they get more than the value of the house they were building.
Is it easier if I bought a house
Scams are on an all time high.
ewww no comment
Couple please take your money and go to Africa and build.
It’s a scammers market in the greater fools economy
@@patriciahercules6852 You take yo racist self to Europe and build with the pale faces of Europe! Where white people come from.
@@patriciahercules6852 Is this a sincere comment?, or a jackass one? It's hard to tell on the net of course.
This should be illegal especially in the climate of housing crisis
Yes it is climate chain
What housing crisis homes r selling for astronomical amounts
I would imagine that’s part of the crisis. Homes are selling for astronomical amounts, people can’t afford astronomical.
What a beautiful home! This must have been incredibly devastating for this family. I hope they find a new home soon and that the builder is sued up, down, left and right!
That's incredibly heartbreaking. I couldn't imagine the time, the effort, all of the hours that went into drawing up the designs and selecting the pieces for each detail of their home.
From what we could see, that house was STUNNING. I pray the Lord places his hand over this young family and that they win their lawsuit, in Jesus name.
Imagine building your dream home just for someone to rip the rug right from under your feet and now someone else is living in it. That's despicable.
Unconscionable greed on the builders' behalf. These homebuyers should be awarded millions to teach the homebuilding industry a lesson.
Yes. A million dollars reward for their inconvenience!
Yes....🙏🏽🙏🏽🙏🏽
Nope. Should’ve had a lawyer and made sure this couldn’t happen. It’s their own fault
@@dcg590 You have no functioning cells in your brain. Didn't you hear the lawyer in the story say that what happened to this couple was not industry practice? You'll eat crow when this couple gets a substantial financial settlement. You ought to be ashamed of yourself. You are vile.
"Canceled for convenience" is basically "Prices are going up like crazy and we would like to screw you over and resell at a much higher price". Greed, plain and simple. It is happening to more people.
Kindred Homes sounds like Mr Potter/ Bedford Falls📽🎬
Nope. Business. They didn’t cross the ts mad dot the is they signed. It’s their own fault.
@@dcg590 yes, if you don't have the land patent, why build?
Free loan
Home buyers back out of contracts all the time.
This lawyer sounds like he's on the builder's side. This is outrageous. This should be illegal and the builder should be prosecuted. If the the
Market had fallen dramatically in that area...would the buyer have been able to negotiate with the builder for a lower price or walked away from the deal? No. The builder would have sued them for breach of contract if they tried to back out.
did he? even when he stated that the consumer has favor to win the suit given the contract stipulations? all in all I just want peace & justice restored for all
Unfortunately it is in the contract that they can do just what they did. Getting a construction loan before thr home is built and closing on the loan could have prevented this problem. When we hsd our house built the builder was only offering construction loans thus locking him into any price changes prices exploded but the loan already closed to start the build
They going around scramming people's. Thank you both for coming forwarder with this information so no one should do business with this company. They need to be reported to BBB. I know you all will win sorry that happen to you and your family I will be praying for you. 🙏
It's a blessing in disguise. Sue them for everything you got (financial, emotional, psychological etc) They will never again repeat this. You will walk out with millions. Rest assured- No stress!!
Very hard for them to sue. That same contract also limited their legal options.
It's definitely blessings in disguise. There's a reason why and something better is waiting for them.
A jury won’t agree
@@adventuresinthebay8487 won't agree on what and on what basis
I agree. I dont see a group of 12 jurors saying oh that was ok you screwed them
They need to be sued for inconvenience too. All the money they spent for additional housing, food and inconvenience. Hit them hard!!!
I will stand with this couple. Kindred Homes should never be allowed to sale another home in Texas.
If there was ever a need for a protest, it would be this one. What a beautiful family, that I would love to have as neighbors.
Statement from Kindred proves they canceled the contract because of money. The cost to build with the increase cost in materials ended up being more than the contractal agreement they had with this family. They couldn't eat the loss so they canceled out of convenience. Hope the family wins big in court.
I agree with you. I wonder if there was an attempt from Kindred to get additional funds from the buyer and they refused.
The contract reuires disputes be settled in arbitration rather than a court.
I guess integrity isn’t one of their company values. Just because you can, doesn’t mean you should. Now their name is splattered across social media and I’ll definitely remember it.
So? That’s business.
Builders have been doing a 28% profit...I'm sure there was a clause in there about higher costs and did they offer the house at a higher price to the couple? My guess is some rich Dbag came and waved some money around bribe the builder.
This been happening a lot with new builds. I have seen people a week away from closing and their contract falls through. This is sad.
Yes it is sad, same thing happened to another Hispanic lady in California.
yup someone posts about it all the time in this homebuyers group on fb im in!
Wow
It's legal too.
You should send those people a link to this & tell them YOU NEED TO GO PUBLIC TOO & SHAME THE BUILDERS WHO USED YOUR MONEY TO BUILD YOUR HOUSE, THEN BACKED OUT LAST SECOND!
If more of these cases were ON THE NEWS then builders would be more careful with next customers.
This happened to me with Chesamar homes in Humble, Texas in the Balmoral community. They cancelled my contract days before the walk through and closing. They stated that my salary was significantly different from one year to the next. It was about a 20k difference. Everything had been approved for months. The house was posted the very next day at a much higher rate. They figured they could sell it for more as it was the model home. I was completely stunned that they could do that.
This could eventually be a win for this couple. Soon, this home will be worth less than the original contract price. There is a housing bust happening right now. I pray you are fully restored financially and physically.
It’s sickening to see them go through this, the lesson I learned from this, is buy the lot first. Then have the contractor build on YOUR lot. Buying them both together on a pending contract looks like a risk I’m not willing to take
Yeah. But you need a lot of cash to buy the lot first.
@@tonoaj bank loans bro. Very few people buy houses and properties with cash
Exactly what I'm doing with my builder, I purchased the lot (2.33 acres) separately and starting building a year later. It's possible...
Key take away for sure
Yea you can buy the lot separately out right for you to own but the builder can pick up the house and move it else were, many houses in Texas are on slab foundation, which is easy to remove and pick up house!
This couple and their attorney need to check how many other people were scammed by this company.
Note to all entering into a Contract: read the fine print and better yet employ a lawyer or someone who can read and interpret a Contract - its in your interest to do so.
I'm in the mortgage business for 30 years, review Texas collateral after closing. Do business with ethical people. File for liquidated damages.
Yeah there’s no way I’d do all this without legal counsel. Hopefully others would learn from their experience. Also, the BBB rating is low. That’s another clue.
This couple seems so nice and pleasant, despite the issue. I am sure God is going to bless them.
That's insane. They had them uproot their lives for almost 2 years (which costed money) , cancel the contract in April and its now June it's sold for more. It was only "convenience" because they were being paid more than initially. I pray this couple win the lawsuit!!!
My parents started building their home a little before covid, a house very similar to theirs. The people that signed their contracts to build with the same contractors and paid their deposits after them had this very thing happen. They were told they had to pay $100,000 more for their homes to keep the contract, they are now suing their builder also.
I hope they win the lawsuit.
Wow
hope they got thingon paper if notup r screwed
I hope they win.
May the Lord bless this family with a much better house and not have to pay a penny for it will be very austohish
It is about time to contact your congress to make sure future homeowners are protected from this so called “cancellation by convenience” by having it as an illegal clause, otherwise, if it is allowed to exist, it will continue to have negative implications to future homeowners. Your Congress should enact a law if you want this clause be illegal in your respective jurisdictions.
Yes they use the Law to work for their behave to do the dirty work. But this is just Bad Business 💯 On any level
The district Congress should have contact this couple this is too ethically wrong 💯
They don’t care. Their loyalty will always lie with the one who holds the purse strings regarding re-elections campaign contributions and all kinds of “off the record” perks. Majority of politicians are bought and sold to the highest bidder, which is why this country is going to hell in a hand basket
I was thinking the same with them showing this commercial for title lock anyone can take your home that's not cool
This home builder would have to prove in this civil suit that costs etc were indeed rising. This couple had this home custom built. So that will weigh with the court. And the fact they kept their end of the contract which they will be able to prove. Future buyers will be reluctant to go through the heartbreak this couple endured.
This happens more than people realize. ☹️🥺 I am glad they are standing up for themselves. I wish this beautiful couple all the best!💕💕
Thank you for helping this couple which, also, helps all of us.
This is just sickening. This couple didn't deserve this. How can you just cancel for convenience. Convenience for who ?
you aint black !
Contract. That's why is smart to get a lawyer to read over the contract although that would be extra money its worth it. This is flat out wrong. They builder cover themselves per contract and were proably planing to do it all along.
@@KeishaRose you sound racist to the WWhite's Man's .............. this did not happen to me or any JUAN i know ..... so pleaes stop the hate ........ present byeden would not this i will report you to the office of kumallah ......
Convenience for the unethical company. Listen to the expert on the video.
@@KeishaRose it was cheaper for me to use a realtor as they know the fine print and have in house attorneys to also refer to no retainer needed. People thought I was crazy to have a realtor deal with the homebuilder and be there for inspection. It was the best decision. 9 years later, the same realtor sold my house for more than double what I paid and got me into another new build for less than half of what I got. It’s been a year in my new house and no mortgage. My advice, find a good realtor. The good ones look out for you and get you out ahead.
Your not the FIRST in Texas 20 families sold their homes and were ready to sign the final paperwork for their homes. A company came in with CASH and brought all 20 under construction homes. Never sale your old home until you sign and get the keys of your new home.
That’s easier said that done. A lot of builders won’t let you sign a contract without agreeing to sell your home. I had to sell my home and get an apartment for 6 months. Luckily my builder wasn’t crooked like this. They let me go into my house with the equity Since prices rose during the duration of construction.
@@tanyas2670 Just wondering, is it that they want you to sell your house or want a large sum of cash downpayment?
@@traceejohnson290 they want to make sure that you’re able to sell it for the amount and time you’re expecting so nothing will hold up closing.
What if you won't do that unless they remove the convenience clause. You will sell your old house but for your safety and protection the convenience clause must also go. Also how do things change if you own the lot?
@@tanyas2670 What if you wanted to keep the home as investment property? This technique sounds so strange to me. I can see why it’s easy for builders to screw people over.
Heart goes out to their struggle. Praying they find Justice.
Buying a home is hard enough especially if you are building new home, they waited almost 2 years just for them to give their hime to someone else because there was a larger profit. I feel for them
That’s why, I always say “read the small print” !!
Also my absolute sympathy for this couple!
Even if they read it, it's said we can cancel based on convenience, who even knows what that truly means even the lawyer said he's never seen that before. Of course if it said "we can cancel if we feel like it! To sell ur home @ a higher cost bc the market went up!" Then u can blame the consumers
No sympathy here. They should have read the contract.
Yeah a lot of ppl don’t understand the jargon of a real estate contract so it’s a good idea to hire a licensed real estate agent. They’re familiar with contracts and can recommend you don’t enter into one if it’s not in your best interest.
It's ok it's a reason why they didn't get the house. Something better is waiting for them
True, nevertheless the lawyer even said he never heard of anything like this. The company had them sell their house. Who would think a business would do something like this. But your right understand you contract.
How heartbreaking 💔. I hope this couple can prevail & get their new home
Get money for damages!
The home got sold already
I hope the couple can counter sue
@@brucetec6597 Oh, they can still sue for money, and I hope they win!
@@bettysmith4527 yes they can but it will be difficult ti win. I have personally seen those contract and they are totally one sided. Once you sign you agree to the content.
My mother, Bless her heart, Hired a contractor to build a Charter School. Long story short. Her ran off with all the money and filed bankruptcy. Mom couldn't sue him and she had to pay back the loan, for the money he stole. Definitely need better laws against these thieves.
Not even my house and this boils my blood. If I was the judge, I would simply award the couple the house fully at the builder’s expense. But you just know that these good folks will not even come close to being made whole, let alone receive anything for being defrauded. Society is so corrupt. Those builders deserve to rot in hell.
This story is so heartbreaking. Those builders are motivated by greed. Most likely they got out of the contract with this family because, they were offered more money.
They will get theirs. And this Beautiful family, will get something greater.
Yes Jesus is in there favor in Jesus Name amen!!!!
Motivated by business. If you had a choice of a job to make $5 an hr then had and opportunity to make $10 what would you do?
@@dcg590 The job logic is obvious. And yes everybody is look for extra money. But at what cost???
Do you lose your morals and self respect just to make money???
It is so sad what state this world is in.
That house was under a contractual agreement.
They signed a contract that both parties agreed upon.
And the family thought that it was binding. They were lead on for over two years...right up to closing time.
They even sold their old house.
I have no dog in this fight.
But my heart goes out to this family.
I truly emphasize with them.
I hope this couple’s lawsuit really hurts this sham company big time. They have absolutely NO ethics, conscience, decency or integrity whatsoever. I hope this never happens to anyone else. How many other people did they do this to?
Our current administration leading the country is treating the whole population of the US like this ( except those illegally coming in through the southern border of course). Lie, cheat, & steal is the common thread now.
Nope they signed No grounds to sue
I am not even halfway through this video and I’m willing to bet they canceled it because they realized they could get twice as much than what you guys probably agreed to. I’m an agent in Dallas and I watched those prices go up and it’s quite sickening when this happens to good people… I remember contracts being canceled over a year ago but did not know it was still happening this recently, wow! I’m so sorry this happened to you hope they get their karma back 10 fold!! I will never recommend any clients to them.
Now let me finish this video…
It was like 300,000 more based on another clip.
As I figured a customer saw this house and offered more. Greed I believe is the evil behind this void of contract. The contractor didn't think they would lawyer up. I pray this good looking couple win!
People keep saying you should have read the contract. But if they refused to sign it, no problem. The builder would have just built the house for someone else. If they had owned the land then had the builder build on their property it would have been a whole different ball game. But almost no one builds homes that way anymore. This is a wonderful learning lesson for other potential buyers to avoid in similar circumstances. Sad situation, because there are even big tax ramifications. Because they sold their house and are not returning the money into a similar property so they might now owe taxes on the whole gain from selling the house! Crooked and yet still legal in Texas.
I'm in North Carolina and i'm building a 500 sq ft home for my daughter for when she turns 18. She's 13 now, but the plan is to Air BnB it out, and use the residuals for her college + first car. I'm paying cash for the build, and i'm searching for builders now, and they all seem a little shady. Like fast talking lemon sellers. One tried to peer pressue me into getting financing through them, so I can keep "money in the bank". Another tried to get me to sell my current home. Like why, i'm not looking to get financed..... None of it make sense to me. lmaoooo... I think im going to wait this weird economy/housing market out.
@@LuvOldschoolRnB I’m with a construction company in Texas that builds homes. If you have the money for the build there should be no problem. Figure out if there’s permits required in the area you want to build in and I’d recommend buying the land first if possible. So that you can build whatever you want on it and take as long as you want to get it done. But yeah don’t place any deposits without a contract in place ever.
So they didn't own the land?
@@sarinasmall6619 no
@@sarinasmall6619 when you build in a community, you don't own any of it. You finance through a bank and end up with a mortgage that you can be paying off for decades. It's becoming rare these days that people purchase land, then find a builder to do the work because a bank will make it harder to get the loans approved for that. They prefer mortgage loans because if you miss one, they can snatch the house back and resell it.
How much do you want to bet that house is now owned by a corporation - and being rented out?
Yup.
I'm thinking someone don't want blacks in the area. Some middle class neighborhoods have a limit. Let's not act brand new.
This happened to my ex-wife and I many years ago. We eventually sued and we prevailed, but what a nightmare!
Ex wife? Dam
@@AB-ij2mv Yeah....it just took such a heavy toll on us, and then her parents, who she was very close to, both died unexpectedly, and all of it was just too much. She started on prescription drugs for her anxiety/nerves, then she graduated to abusing all sorts of prescription drugs. When my health insurance where I work realized she was doctor and pharmacy hopping, she was cut off for prescription drug coverage....SO, she began shoplifting to pay for the scripts out of pocket, if one can call it that; the money for it was all ill-gotten. Long story short, I got tired of bailing her out of jail for shoplifting, only for her to do it again a month later; I just could not take it anymore, it was affecting my own mental health, so yeah...."ex-wife."
to death do you part
The Termination For Convenience Clause must be stated in your contract and signed by both parties for it to be legal.
If you agree to a termination for convenience provision, you should consider negotiating a “termination fee” or “wind-down costs” to balance out the potential costs or risks associated with an unexpected termination.
This is what happens when people sign a builder’s contract. Builder contracts are always in favor of the builder and I bet you, even though he didn’t disclose it, the builder was able to back out because it cost him a lot more to build a property instead of what he contracly agreed to. Builder contract loophole. It’s happening everywhere.
Thank you for the info
Yup
It almost happened to Us in San Antonio, Tx…The sales office called and said “if we didn’t close by such and such date they would cancel the deal”. I now believe a lot of the closing issues were to set that in motion…Fortunately we closed after their delays without an issue…
No, it’s because housing prices skyrocketed in the last two years. So they listed the house at $300,000 more than what this family was getting at four.
People are getting mad at the builder for no reason ! 8:28 MOST IMPORTANT LINE IN THE INTERVIEW
Politicians make the law! Republicans want de-regulation and support businesses over people
I remember watching our house being built. My husband took pictures every weekend. This is sad.
All the time you spend customizing it
Me too!! It’s like your baby… I closed July 2021 thank God
Same here! Our home started as a spec house (our realtor talked us into selling our home before we bought a new one) and two weeks later the COVID shutdown started. Almost all the homes on the market were pulled off and the spec home felt like our only option at that point. The amount of time we put into it going over the few options we had left felt never ending. I couldn’t imagine the time that this couple spent on their custom home that took over 2 years to build. How devastating!
I took pictures weekly too and when the builders attempted to cancel the contract due to not being able to get material we had so much proof of progress that took place and hired a attorney for breach of contract and our home was delivered to us.
My mom experienced this same thing when i was about 8 years old she invested all of her life savings into a dream home she designed across the street from the lake, the builder took forever on the home as is while we were renting about a mile down the street, I remember it feeling almost like 5 years of processing. Eventually the house started to form and we drove past, walked the dogs etc by it almost every weekend to watch her beautiful brick house being made, eventually they got an email saying the foundation was faulty and had to be redone and the contract was sold to the bank and they lost the house and everything they put into it. 1 year later with no renovations done or anything to foundation, the house sold for triple what it was worth when first built and saw a happy family living in my moms dream home that she worked all her life for. I hate people. I wonder how life could of been if it weren't for crooks.
thats horrible....
😢
What a nice family!
Contractor cancelled it so he could sell it at a higher price and probably because they were black. I was in a similar situation, but because my contractor had gotten to know me and my family. he wouldn't let the other buyer talk him into this shady move. I designed my own plans and had a 5 bedroom, 3 full bath, with an oversize playroom 2 story put on a corner lot. Nobody tried to get that lot until I got it and the contractor held the lot for me for a year before even building. The contractor like my plans so well that he offered to buy them from me and I sold them to him. Anything can happen when you work with people who have no fear of the Most High and Integrity.
You mention the fear of God yet boast about yourself, and you mention race.....evil and wicked ones do not care about race,
@@nezza1963 I didn't boast about myself and you must have misunderstood. Could you not see the power of YAHUAH at work here? There's a whole lot more to this story, but it's to long to share. Everyone who knows me is aware that this was the hand of YAH. that helped me and my 8 children. So if you feel that I'm bragging on myself, I'm sorry. Yes my contractor is a nice white guy, the other guy who wanted my plans is white, my realtor is a black women,and I am a black single woman. See, I understand that my GOD doesn't care about color. I mentioned color to help readers understand. There's nothing wicked here. Besides, you are aware that He works through us , right?
Amazing testimony... Very good to develop those relationships as well... congratulations!
When there's no explanation, its always blamed on race. Smh
What does race have to do with anything
This behavior on the part of the builder is not rare. I have heard of it happening several times. Many times the builder cancels the sale, the closing, at the last minute using the excuse all the building materials, appliances, faucets, doors are not available due to the supply chain shortages. Then when the parts come and are installed, the builder sells the house at a higher price. Many times the buyers sign off on the missing parts, just to get in the home - parts like no garage doors, front doors, etc. are missing but the buyers are so desperate to get the home, the forgive the missing parts. This is especially tempting for the builder to do when homes were going up $3000 to $6000 a month - they say sorry and then turn around and make more money on the house - selling it for $50,000 more than it had been under contract. Rotten, unethical builders.
Also - it costs the buyers more money when they don't get the house when they were supposed to, because now they have to arrange additional housing, they have additional fees and expenses, sometimes moving several times before they find suitable housing. As an ex-Realtor, the advice I give to those buying a home, never, never buy as much as you possibly can buy because there are ALWAYS unexpected expenses that come up - and you may end up in trouble financially. Buy only as much as you can COMFORTABLY afford. My husband and I saved up money in an emergency fund and then we bought low enough costing homes that if one of us lost our job, we could limp along financially for 4-6 months using our emergency savings until we both had jobs again and our income was back up.
That’s why the famous frase”. Read every little thing in a contract. And also hired a lawyer to review everything
Thanks to this news people will avoid this company
Criminals at every turn. May they be blessed to win that law suit without hesitation. Heartbreaking for the family. Yet they are still so calm and composed. Share, share this news with everyone.
Amen
The top 1% is making the peasents fight each other for scraps. Thats why we have record criminals and dishonest work ethics all over the place now.
I went to Physician Assistant school with Tracy she is such a sweet person I hope they they get blessed with something better than this home
This is Aweful. Bigger and Better Blessings are on the Way. Be Encouraged 🙏
Thank you for sharing this story. I don’t know this couple. Now maybe others will reconsider this builder in the future.
I'm sorry to here that for them and my God continued to blessed them
A friend went through this in TN. She purchased a home through a builder, it was a few weeks away from being completed and they reneged on her after the value of the homes there increased for that subdivision. They canceled her contract and now she is currently suing them them.
That is DISGUSTING 🤮❗️
I’m so sorry to hear about this.
May God find you a Better home 🏡.
Put God first in EVERYTHING you do and He will Provide ✝️🙏❤️😊❗️
Amen and amen again 🙏
Hope everything works itself out in your favor guys!!!
Was told our builder considered doing the same thing but someone high in the company said we don’t do people like that. We were told at closing that the house was worth $70,000 more than what we agreed on.
My builder tried this with me as well, I signed my contract in April of 22 to be close in December. As of October the builder didn’t start the process, so I got a lawyer to extend the date before my initial contract expired. I am still waiting as we speak and have updated the contract twice. We are waiting on electricity, because the builder said FPL is waiting on a transformer, we are waiting for two months… still nothing.
Hopefully we can close, I am trying to get FPL to give me more info, but they can’t provide details
That is fricking dirty! The couple did such a good job with their decorating taste and skills, someone coveted that house and offered more money than the owners were paying and the dirty builder stiffed them! I hope this couple buries this builder and the people who undermined this couple regret the wickedness they did!
It’s wierd that everyone in my town is buying land so easy
I've seen too many stories like this and it's absolutely horrible for the would be buyer! For any contractor that conducts business in this manner, I hope for every cancellation, they suffer ten bad deals behind it...something need to humble these lunatics
Amen
Kindred homes stole their home. They are to be ashamed a company that operates like this has a rotten core.
Selah, amen, so let it be done!
The calmness exhibited in the couple’s interview tells me they know their about to get paid. But I feel like the Attorney(s) representing the developer/contractor are going to drag this out in court.
I live in NJ and also a builder...I'm not understanding this. A builder or buyer can't just cancel a contract... especially under these circumstances a week before closing. The builder probably got a bigger offer but that doesn't matter when a home is under contract and out of attorney review. They absolutely need to sue, get the house and then sell it at a higher price themselves. Always get a good real estate attorney when buying or selling a home folks!
Absolutley needed especailly in this market climate!!!
God has a better plan for this family.
Wow. That company used that couple to fund their project that they could basically cancel at any time with the couple, just to make a profit without any personal out of pocket expenses. The love of money is truly the root of all evil. Smh
I agree… they used them!
Couple didn't fund the home. The builder only asks for a small deposit. They build the home and then all parties close so the builder can get paid. However, even if prices go up, the contract locks buyers in the agreed price. The builder cancelled because they knew the home price went up from 2020.
@@tangotea7192 I didn’t hear them say that. That big nice house, I know that couple put down some money.
@@tangotea7192 Sounds like a scam.
@@tangotea7192 The couple is the only party that walked away with nothing. No old house, no money and no new house. I still don’t understand why the builders would back out even if the prices went up. Why, because they can’t charge more because the contract was already signed? All I know is that this couple lost all of their money, but all other parties got paid somehow.
Hopefully they score huge in their lawsuit against the builder. A young family, working hard to achieve their dream home should prevail and be awarded enough to build another home with some to spare.
It's important to know your contracts before you sign. That means you need a few days to read every word and have a layer to go over it
with you.
What’s a layer?
They had the nerve to have this couple sell their home before they could close on the new build! Evil!
That's standard practice, if your income can't support 2 mortgages. This is a standard clause in most contracts.
@@prettyacct I understand that on it's face. However, they screwed these people over big time and they had no home to go back too. They knew they were going to screw these people over, that's why that contract was so one sided! That's the evil part!
This is such a bummer. I feel so bad for this couple and I hope things work out for them.
Unbelievable so sorry that this happened to you. I hope in the end you will feel relieved
What’s so cold about this is in the contract, they had to sell their home in order to buy this one and Kindred Homes didn’t even offer them the option of buying the home at a higher price. I pray they get millions!
Our Father in Heaven will give you way more then you can ever ask in think. Wrong and evil doers have a very special place reserved for them. I'm so very sorry that you have to go through this. We will be praying for you and your children. Can't wait to see the pictures of your new and better home!
So, with all your faith and glory, why not find them and help them out instead of commenting in the name of your God!
@@cameronlewis7029 I do
@@cameronlewis7029 Jesus is Lord. I am boldly commenting on the name of my God. Repent or perish. You won't silence me for speaking about my God. You people are a hot mess. You choose not to believe in God and hate and try to silence those who do. I will speak my mind just like y'all do.
When they forced this couple to sell their home before signing the contract, should’ve made the contract 100% binding on both sides. This is political corruption- plain and simple.
We had a developer of a waterfront condominium pull this back in 2006. Was fully sold out with some buyers on a waiting list. Almost all the buyers backed out. Developer ended up with NO buyers and a dark building for the next ten years. Very few of the condos were actually occupied.
These poor people to have this pulled on them at the last minute. Pretty sad. Hope they win their suit!
Tracy and Mr Darnell make sure you file a report to make note of this with the better Business bureau online make sure you get this paper trail started
This is awful. The governor needs to do something about this. Greed. Your dream home is still out there family, be encouraged
Ha, ha!
Abbott isn’t going to take the side of the consumer when he’s well known to be on the side of businesses. Why do you think hospitals can’t be sued for more than $250,000 even if they destroyed your body?
You want a different system, vote different!
Republicans love greed and big businesses.
@@Woke365 you’re absolutely right. I didn’t think about that.
My daughter broke ground for bldg a new town house, I'm sharing this video with her now. I'm praying that she doesn't fall in that dilemma. My heart goes out to this couple, things will work out good for them. Very sorry. Scamming comes in all ways.