NRPI Complaint - NRPI - New Mexico - New Mexico Lot

Review by DarAZ on 2009-04-05
NEW MEXICO -- We concur with the prior reviews regarding NRPI. We also encountered the same courting procedure resulting in our being burned on the property purchase.

I later contacted a real estate agent in another state that said NRPI goes around the country buying up lots, doubling the price (in our case they hired a National Spokesman, a TV star to qualm any doubts). They reap the profits until the market dries up then move on like locusts.

I agree it's not only a bait & switch scam but they immediately more than double their money to offset their minor expenses. We have proof.

This location is no longer selling lots. As if the sting operation wasn't painful enough, they were unprofessional in processing paperwork leaving some nearly in trouble with the State on property taxes.

Buyers beware.
Comments:4 Replies - Latest reply on 2009-04-06
Posted by FoggyOne on 2009-04-05:
I don't know what is bait and switch about it. Any real estate salesperson will try to get the highest price for a piece of property they can. You bought it because you thought it was worth it, it is immaterial what they paid for it originally. If you are unable to do research to see what comprable properties are selling for, don't blame the developer. I didn't know anyone believed what a talking head, regardless of star status, says when it comes to shelling out my money.
Posted by Anonymous on 2009-04-05:
I don't see the bait and switch either. If you did not feel the property was worth the money at the time you made the purchase then you would not have gone through with the deal. Did you have the property appraised before you handed over any money? Everyone who owns property has lost money, whether only paper or in their pocket because they cant sell for what it was previously worth. Unless you are buying property to restore and flip, its a long term investment.
Posted by Anonymous on 2009-04-05:
Selling undeveloped lots to people with the promise that there would be a lavish resort and town there in a couple years in nothing new. They were selling lots in a place called California City in the middle of the Mojave Desert since the 1970's. There is still nothing close to what they claimed would be there. All they did was grade some dirt roads and put up some plastic bunting.

People bought the dirt lots by the 100's only to find out they had no utilities to the lots and none planned. You want water oh' that's an extra $20,000. And of course the county started taxing them the same year. Real estate lot scams have been around since the 1920's. No bait and switch just weak buyers.
Posted by DarAZ on 2009-04-06:
No, it's the lies the agent told that's worst of all. As the other reviews said. We were told flat out in response that ALL utilities were up to the lot; total lie. That the property IS going to be worth $5k more the next week, etc.
But properties at the advertised prices didn't exist.

Not only that you had to come after work on a Friday night, stay in a Elk hunters lodge. Then, very 1st thing early in the morning, tired, you meet the agent and then right out to view lots.

It was so far removed, there was poor cell service, so early, in another time zone, you couldn't reach professionals you knew before you had to make a decision.
And of course part of the scam was to arrange dozens of other "alleged" buyers swarming around the lot you were shown. Just to impart the demand-that wasn't real, hype for the property.

It's all staged, an act, a procedure that works with high pressure. It's nothing like looking at property on your own.

Explain all that, then tell me it's on the level.

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