BUYERS, PLEASE READ THIS BEFORE BUYING FROM LENNAR…read more
I want to share my experience with Lennar so other families can be extremely careful before giving them a deposit.
In my experience, I felt misled throughout this process. I was initially told that I qualified and was asked to provide a deposit. I was also told that if I did not qualify, my deposit would be returned. Based on those representations, I moved forward and paid a $10,000 deposit.
Another MAJOR RED FLAG: if they tell you that your own real estate agent cannot help you or is "not qualified," and then tell you, "Don't worry, we will help you," PLEASE think twice before agreeing. Do not turn your back on your own agent just because the builder's team tells you they can take care of everything.
In my experience, removing independent representation was a huge mistake. Always have someone working for YOU, not just people connected to the builder, lender, sales office, warranty department, or transaction.
My advice: NEVER give a large deposit simply because someone tells you that you qualify or promises that your money will be returned if financing does not work out. Get EVERYTHING in writing and have the contract independently reviewed before signing or paying.
For me, this entire experience has been a huge red flag. I personally would NOT recommend buying from Lennar based on what happened to my family. Follow up on everything yourself. Ask questions. Keep emails and text messages. Do not rely only on verbal promises.
Also, do your OWN independent home inspection even though you are buying a brand-new house. Do not assume that "new home" or "warranty" means you will have no problems. In my experience, I had concerns about safety and construction issues, and I was not satisfied with how the warranty process and staff handled things.
Research the LOCATION before buying too. If you are considering Plumas Lake, look carefully at zoning, roads, traffic, emergency access, evacuation routes, schools, future development, and everything around the community. Do not just fall in love with the model home.
Also remember that your mortgage payment is NOT necessarily your only major monthly housing expense. Look carefully at property taxes, Mello-Roos/special assessments, HOA if applicable, insurance, utilities, and other costs. Those additional charges can add hundreds of dollars to what you expected to pay. In our situation, we were looking at approximately $400 plus another roughly $700-$800 in taxes/Mello-Roos-related housing costs, so buyers should verify the exact numbers for their own property before signing anything.
And please understand: WHAT YOU SEE IN THE MODEL HOME MAY NOT BE WHAT YOU GET.
The model home can look beautiful because it may contain many upgrades. Before signing, ask for a WRITTEN LIST showing exactly what is included in your home, what is an upgrade, what costs extra, and what will actually be delivered.
My family worked very hard for our money, and having our $10,000 deposit tied up in this situation has been extremely upsetting. I am pursuing my available options regarding the return of my deposit, including legal options if necessary.
Based on my experience, I would tell future buyers: DON'T RUSH. DON'T REMOVE YOUR OWN REPRESENTATION JUST BECAUSE SOMEONE TELLS YOU THEY WILL "HELP YOU." DON'T RELY ON VERBAL PROMISES. DON'T SKIP YOUR OWN INSPECTION. AND DON'T HAND OVER THOUSANDS OF DOLLARS WITHOUT FULLY UNDERSTANDING THE CONTRACT.
I wish someone had warned me this strongly before I went through this.
Please do your research before buying. One day, you may thank yourself for taking the extra time before signing.
If anyone else has had a similar experience involving Lennar, financing, a deposit that was not returned, or promises made during the buying process, feel free to contact me and share your experience.