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My Defective Ryland Home 01/28/04 - 09/26/05

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    All photos are between: January 28, 2004 - (our closing date) and September 26, 2005 (our couldn't take anymore date) - bidding our builder, Ryland Homes, good riddance by officially kicking them out of our construction site of a house (21 months later).

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March 26, 2008

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Vee

RYLAND HOMES HAS QUESTIONABLE SALES APPROACH -Just getting started and feeling a bit wary. We recently saw and contracted to buy a Ryland Home in North Las Vegas with base price around $200K. The model was beautiful and though they didn't say how much the model cost, they agent suggested that upgrades for this model were generally about $20-$50K. No sheets showing the price of home "as modeled" was shared as was provided in most communities we visited but the upfgrade range they suggested sounded normal. We could not go to "design center" to see upgrades or get more details on this until we had a signed contract. No "open house" hours like most other builders. Of course they opffer a $20K allowance for upgrades if you use Ryland Mortgage Company, and they pick the appraiser. Upon getting to next step we are now made aware that 1) the model was actually closer to $400K than the $200K base price...DOUBLE the advertised cost and 2) the appraisals are coming in $30K-$40K below same time last yesr effectively leaving the appraised cost this much below the sales cost. This means buyer has to "buy down" the difference at closing and go into the property upside down (paying more than bank say's its worth). Of course appraisals are done by the appraisal company Ryalnd has contracted to work with themselves Ryland Mortgage for property built by them Ryland Mortgage. We still want to more forward but before finalizing the "options" want all data we can pull to see if we can discuss having a bigger allowance. Seems like thier "disclosure" in beginning was a bit questionable and this feels a bit like a "bait and switch" We're working with our agent, pulling comps and records etc. Any suggestions or info. would be helpful. Have about 3 weeks to pull together counter proposal. Even considering paying for our own appraisal of the base house cost (only thing they guarantee) using the same appraisal company but we think they may be "in on" the scam. Think it's salvagable but need to move quickly.

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