Interesting exchange in our "would you walk away from $10,000" thread, where a former lawyer recommended bringing suit to retrieve the deposit due to false and misleading sales practices. You know, quotes at the sales office like
"These will easily double!"
"You'll have no trouble selling!"
"You were lucky to get one - our waiting list is thousands long!"
Blah blah blah
So I was thinking, who else will people sue? Their realtor? The appraiser? And will the developers sue the folks canceling, or just take the deposits back and try to unload to break even at any price? When there's blood in the water, you know the sharks will be circling
Here's the post:
I would have my Attorney demand my $10,000 back under threat of lawsuit for deceptive sales practices.When the builder balked; I ask him if he'd rather pay me $10K now, or $10K + punitive damages + my attorney fees + court costs when the Jury made up mainly of folks who the builders ripped off award me $500,000 in compensory damages!Yes, In a previous life I was an excellent collections-attorney. Trust me a letter from an attorney to the builder will get your $10K back at this point in the cycle.
May 28, 2006
Posted by blogger at 5/28/2006