KISSIMMEE, Fla. — A Kissimmee man called Action 9 claiming a major homebuilder canceled his new-home contract, then threatened to keep the man’s $11,000 deposit.
Many consumers discover new-home deposits can turn into a costly ordeal.
Shawn Abdurakhimov expected to move into his new home at The Enclave at Tapestry in Kissimmee before Christmas. He claims that's what KB Home told him.
Instead he got a letter from KB Home’s lender denying him a mortgage.
KB Homes said it could keep his $11,000 deposit.
“That was a complete shock,” said Abdurakhimov.
He said he had been pre-approved by his mortgage company, then the builder talked him into using its lender.
“If you go with our mortgage company and you're approved we'll give you incentives toward closing costs,” Abdurakhimov said he was told.
According to Abdurakhimov, KB Home's lender never suggested his mortgage was in trouble, until the day it was denied.
“There was not even a negotiation, or no chance, they just cut me off like that,” he said.
He complained, but said the company would not include a refund in a contract cancellation.
Abdurakhimov called Todd Ulrich, who went to the sales office to get answers.
“Then he had a heck of a time getting his deposit back,” said Ulrich.
“At KB Homes?” replied a manager.
“Yes,” Ulrich responded.
Later, corporate managers disputed Abdurakhimov’s version and said he refused its offer to find another lender or pick a different home. So it sent the refund before being contacted by Action 9.
Abdurakhimov is the third KB Home customer who called Action 9 about lost deposits.
Ulrich helped Fidel Arroyo recover $15,000. “Like one snap and it’s all gone,” said Arroyo.
Unlike existing home sales, experts say some new home contracts favor the builder and buyers need to check the deposit clause.
“Most developer contracts say they will use the consumer’s money to start building and break ground and if you they can’t close, they don’t get that money back,” said real estate attorney Karen Wonsetler.
Abdurakhimov says he'll have far more questions the next time.
“I want to prevent that from hurting other people," he said.
KB Home also said the customer failed to fully disclose employment that triggered the loan denial.
The company said it did nothing wrong, and always intended to return the deposit.
WFTV
