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Your story So, you've invested in overseas property and made a good killing? Or are you one of the unlucky ones who's still waiting to hit the jackpot? Either way, if you have a story to tell, share it with everyone here. Let other investors learn from your experiences

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Looking for someone to have my deposit!

 
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  #1  
Old 02-05-2007, 06:50 PM
bazizacojones bazizacojones is offline
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Join Date: May 2007
Posts: 1
Default Looking for someone to have my deposit!

Hi everyone,
Where do I start! - I will try & make this as short as possible!.. Two years ago I put down a large deposit on an american property (2 bed condo) in Orlando. To make a very long story short, upon completion my circumstances had changed and I could not get the mortgage to complete. I pleaded with the developer to refund my deposit (or part of it) without any luck, however he said that if I could find someone to 'take over' the property he would give the deposit to them!! So here I am - I would like to do a deal with someone whereby we split the deposit, so you get some and I get some of my money back. Would love to hear from anyone who is interested and if anyone can suggest any other way of advertising this I would greatly appreciate it!
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  #2  
Old 04-05-2007, 01:43 AM
Dan Auito
 
Posts: n/a
Default

Baz, how much was your deposit? I am close to Orlando, about 1 hour away!
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  #3  
Old 07-05-2007, 12:00 PM
bazizacojones1 bazizacojones1 is offline
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Join Date: May 2007
Posts: 1
Default Deposit amount; Orlando

Quote:
Originally Posted by Dan Auito
Baz, how much was your deposit? I am close to Orlando, about 1 hour away!
Hi Dan,
It is a whopping $61,000!! (the properties are worth aroung $350k-$420k). I'm having problems logging in to this (had to re-register!), so if you would like to contact me direct that would be great! (b a z i z a c o j o n e s @ h o t m a i l . c o . u k)..

Look forward to hearing from you!
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  #4  
Old 21-11-2007, 04:50 PM
coralpink coralpink is offline
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Join Date: Jun 2007
Posts: 3
Default

Hi,

I am in a similar situation to this blogger, am unable to get a mortgage for a resale condo
in Orlando. But am now having difficulty in getting depsoit back. Iwas taken for an inspection trip by ****** who tried to get me to buy a property which was way above my budget. I tried to walk away from them, but they pulled me back in with a resale at a more affordable price. I did tell them my earnings were not great, but that I had a buy to let in London. ****** assured me that getting a mortgage would not be a problem.
Their financial partners (CFP) failed to secure a mortgage for me, as I was not willing to exagerate my income. ****** then introduced me to another Lender. who I have spent the last 6 weeks filling in forms and having conference calls with my creditors, there is still no offer from them, but they are now telling me to
they will approach another lender on my behalf. The contract states that deposits will be returned if borrower fails to secure a loan. How can I get my money back, I feeI hve been duped badly. Any advice, or pointers to a solution would be appreciated.

Last edited by totallyproperty : 09-01-2008 at 05:02 PM.
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  #5  
Old 09-01-2008, 04:58 PM
Paulamoney Paulamoney is offline
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Join Date: Dec 2007
Posts: 4
Angry

Hi

It makes my blood boil the way these companies behave.

If it is a UK company, which i know ****** have uk offices

Go to the courts first and start the proceedings for breach of contract.
Should be £65.00.

Then after, if a judgement gets awarded to you, as Iam sure it will because you have the contract stating the return of your deposit, and they still do not pay, you can then issue a WINDING UP ORDER, which you also get from the courts.

On issuing this, this will 99.99% of the time get you your money back. as you now have the power to bankrupt them, and close them down.

Best of luck!

Last edited by totallyproperty : 09-01-2008 at 05:02 PM.
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  #6  
Old 16-01-2008, 06:21 PM
Olly Olly is offline
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Join Date: Jan 2008
Posts: 65
Smile Looking for someone to have my deposit! ETC, ETC...

Hi

I share everyone's concerns against operators like this. (Please understand I am a Licensed Realtor & International Property Specialist with a Florida License.)

Not sure whether the advice given about the Breach of Contract was meant to be actioned in the UK or US but, yes, you can follow this route in the US too.

However, another thing you should do is inform the Realtor who actually had you sign the Contract you will be filing a formal complaint with both the Ethics Committee of the Florida Association of Realtors - local division of the National Association of Realtors. Plus, and more importantly you will lodge a formal complaint and seek a fulll investigation with the Dept of Business & Professional Regulation. Your lawyer will apply for an immediate suspension of the Realtor License in the interim.

Incidentally, if you do need a real estate lawyer to act on your behalf, I recommend a gentleman who regularly lectures Realtors on these matters. His name is John Palumbo. Please understand I have no personal links to this person.

Any additional advice, please feel free to contact me.
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  #7  
Old 06-03-2008, 09:23 PM
mickthepropertyguru mickthepropertyguru is offline
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Join Date: Feb 2008
Posts: 123
Default

The only way you can get a company on its knees is the threat of very bad advertisement. If you tell them you are going to the big papers more than likely they will change their mind.
But you have to follow up on the threat and do it....they will wait till the last moment to change their mind but i think they will.
Big companies have got very good relations with Developers. The big property companies can get your money back because of all the business they have given this developer in the past. Trust me!
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