Denali Home Builders

In response to your letter in this matter, please note that the complainants were to purchase the condominium unit owned by Babayit, LLC. The initial offer was submitted with pre-approval letters. It was then discovered that the complainants had IRS related issues and that compromised their ability...

to apply for the loan. This information was never disclosed to Babayit as they represented in the contract an ability to qualify for the financing. The complainant requested that Babayit give them another opportunity to purchase the condominium. Babayit agreed. The complainant paid an additional $2,500.00 toward their earnest money deposit. Additional financing issues ensued. Ultimately there was a dispute as to the entitlement of the earnest money deposit as Babayit contended that the financing contingency had lapsed and the money then reverted to liquidated damages. The complainants believed the contingency remained in effect. There existed a reasonable dispute over the contract terms.The Complainants filed suit against Babayit and a Counter-Complaint was filed against the Complainants. Ultimately the parties acknowledged in writing that the earnest money was disputed and an agreement was reached with respect to an allocation of the funds. The court case was settled and dismissed.A dispute over contractual terms is certainly not the basis of a Revdex.com dispute. Those matters are either resolved by the parties or by the Court as was done in this matter.