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Pennyworth Homes of Spartanburg, SC Informative - Promises Promises Promises

Review by Victum on 2007-08-01
GREENVILLE/SPARTANBURG, SOUTH CAROLINA -- WE went to Pennyworth homes in Spartanburg, SC and found the home we wanted, signed the contract and got turned down for the loan. The appraiser did not figure in the finished basement into the square footage of the house so our loan was refused. It has been over 2 years now, Bill, a manager, promised to refund us a portion of our $1500.00 down payment. We Have Yet to receive it.

WE decided not to use them and went with another company, using the same basic floor plan, and we didn't have a problem with the loan.
Comments:4 Replies - Latest reply on 2007-08-02
Posted by Skye on 2007-08-01:
Umm, what attempts did you make during these last 2 years to get your money back?? Or did you just let it go? And are only now complaining about it.
Posted by Slimjim on 2007-08-01:
That doesn't sound like much down for a home purchase. Most people would be happy giving up that on a fall through. I take it the contract did not have a mortgage contingency clause.
Posted by poppapia on 2007-08-02:
slim, your comment was exactly what I was going to comment on. In addition to the mortgage contingency clause, I always recommend people add that the purchase is also contingent on a satisfactory appraisal.
Posted by moneybags on 2007-08-02:
Contact your state Real Estate Commission. Most of these companies hire licensed agents to sell the homes and therefore they, their agents and brokers are governed by RE laws.. Also, contact the Atty. General. Two years might be too late though due to statute of limitations.

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