We purchased a Perry home in Lake Shore on Feb. 2, 2012 that was on the ground and had not sold thinking we had one of our two homes sold. Our deal fell through days before closing. In order for us not to lose our deposit, we purchased a second home in Summer Wood that was just started, but Perry wanted another $2,000 earnest money. We had to go to the design center and chose colors and options totaling another $11,260.75 and were required to pay half upfront.
We did sell our home that we are currently living in, but 4 days prior to closing the buyers contract fell through. We are grandparents raising three grandchildren needing a larger home and are very budgeted. We are now out over $8,630.00 less a check from Perry for $1,000.00. We purchased our home for $247,761.00. They now have it for sale for $269,900.00. So from my calculations they instantly make $22,139 by increasing the price of the home plus the standard 30% profit on the $247,761.00 totaling Around $74,761.00 plus $22,139.00 from the price increase = $96,900.00 less the 3% commissions to sales rep ($8,600) for profits of around $87,400.on one house sold.Less the $1,000. sent back to me.
I can understand the reasoning for the earnest money & upgrades moneys. However if money is not lost on the home sale, I would think that the moneys would be returned to the buyer. Not with Perry.
They profited very largely from our misfortune.