King Street Antiques

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved] Complaint: [redacted] I am rejecting this response because:I have filed with the State Attorney General to research and investigate the builder for contract fraud We initiated contract because we were told and reassured (they even spoke to our lender directly) that the community was FHA approved AT THE TIME OF CONTRACT Shortly thereafter the design manager was fired Several months later the Sales manager resigned Several other contracts had fallen through due to what they called "financing issues" on the building across from ours that had just been completed They broke ground on our strip of lots and gave an estimated arrival date of August The contract clause for cancellation with a FHA loan under the federal guidelines was months after contract That clause was exhausted way before the building was ever completedthey of course knew that it would be and we would have little recourse.They completed the lot around the time they had estimated however; prior to final walkthroughs we discovered that not only were they NOT FHA approved, they could not close our loan because they had not even started the FHA approval application and were not eligible for approval because they did not meet FHA community occupancy guidelines We lost our funding and ultimately had no where to live because we had waited almost a year and a half for them to build the lot We had put in notice where we were living and had moved out that month for my daughter to start school in the right district in September I was pregnant so this was all very devastating and had a large impact on my family I firmly believe that they accepted our deposit acknowledging that our loan type was an FHA loan for which they knew they could not close on They frequently (I have emails) attempted to get us in touch with other lenders (which worked for them) to select a mainstream loan with 5% down instead of the FHA's 3% They KNEW WHAT THEY WERE DOINGWe specifically asked this question at the beginning of our contract and it was made part of our contract that we were an FHA loan These people are deceptive and we are not the first family they have done this to Regards, [redacted]

September 18, 2015Dear *** ***:The complainant executed a purchase contract on unit ** at *** *** utilizing FHA financingPlease be advised that FHA financing was available when the complainant was scheduled to settle.Under terms of the purchase contract, when the claimant did not close
as directed in the closing letter Basheer & Edgemoore is entitled to retain the deposit.Under terms of the purchase contract, when the claimant did not close as directed in the closing letter Basheer & Edgemoore is entitled to retain the deposit.At this time we consider this matter closed.Yours very truly,Brent L.Vice President - Finance

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed Administratively Resolved]
Complaint: ***
I am rejecting this response because:I have filed with the State Attorney General to research and investigate the builder for contract fraud. We initiated contract because we were told and reassured (they even spoke to our lender directly) that the community was FHA approved AT THE TIME OF CONTRACT. Shortly thereafter the design manager was fired. Several months later the Sales manager resigned. Several other contracts had fallen through due to what they called "financing issues" on the building across from ours that had just been completed. They broke ground on our strip of lots and gave an estimated arrival date of August. The contract clause for cancellation with a FHA loan under the federal guidelines was months after contract. That clause was exhausted way before the building was ever completedthey of course knew that it would be and we would have little recourse.They completed the lot around the time they had estimated however; prior to final walkthroughs we discovered that not only were they NOT FHA approved, they could not close our loan because they had not even started the FHA approval application and were not eligible for approval because they did not meet FHA community occupancy guidelines. We lost our funding and ultimately had no where to live because we had waited almost a year and a half for them to build the lot. We had put in notice where we were living and had moved out that month for my daughter to start school in the right district in September. I was pregnant so this was all very devastating and had a large impact on my family. I firmly believe that they accepted our deposit acknowledging that our loan type was an FHA loan for which they knew they could not close on. They frequently (I have emails) attempted to get us in touch with other lenders (which worked for them) to select a mainstream loan with 5% down instead of the FHA's 3%. They KNEW WHAT THEY WERE DOINGWe specifically asked this question at the beginning of our contract and it was made part of our contract that we were an FHA loan. These people are deceptive and we are not the first family they have done this to
Regards,
*** ***

October 8, 2015Dear [redacted]:As per our September 18, 2015 letter to the Revdex.com the complainant executed a purchase contract on unit ** at [redacted] utilizing FHA financing. Please be advised that FHA financing was available when the complainant was scheduled to settle.Under terms of the purchase contract, when the claimant did not close as directed in the closing letter Basheer & Edgemoore is entitled to retain the deposit.The claim by the complainant is unfounded and at this time we consider this matter closed.Yours very truly,Brent LVice President - Finance