Anyone got deposit back from Pulte,?

Asked by Ashok, Fremont, CA Mon Sep 8, 2008

I signed a builder - Pulte (with a $10000 deposit) for a new house that was under construction, however I have to cancel the purchase due to my job condition (got laid off), now the builder is refusing to refund my deposit.
The agreement says that I will loose my deposit if I cancel the purchase. Has anybody got their deposit refund by Pulte homes? could you please share your experience or suggestion?

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8
Adam, , Orlando, FL
Sun Mar 8, 2009
We did get our deposit back from Pulte, but we had signed an addendum as part of an incentive where they would pay $6k of our closing costs if we used their mortgage company. In the addendum it was worded two ways - one sentence said if they didn't approve us within 30 days, the contract was canceled and the deposit was refunded. The other said that after 30 days the deposit was non-refundable. Confusing, to say the least. They ended up not approving us (we weren't able to sell our current home, so they wouldn't approve us with two mortgage payments, which made sense), but they gave us heartburn over the deposit.

After several months of trying to get them to call me back and admit that they didn't approve me without receiving any cooperation or even a phone call back, we found a lawyer through a friend that was willing to take on our case on a contingency basis - we don't win, we don't pay, in other words. He sent a letter demanding our deposit, and of course, they stonewalled us. He then asked them to start the arbitration process as described in the contract, and they basically told him to skip arbitration and go ahead and sue - in other words, they were "calling our bluff" by not thinking we'd want to go through the cost of a lawsuit.

We filed suit against them in January, at which time they had 20 days to respond or face a summary judgement. After 18 days, they called our lawyer and said they would refund us in full.

Summary - they won't work with you until you actually file suit with them, but we had the special language in that addendum that said they would refund us if we weren't approved. Stay away from Pulte Homes and Pulte Mortgage - it was a hard lesson to learn, and luckily our situation worked itself out, but I've heard stories from other folks here that went either way.
2 votes
On May 2013, singed contract, paid deposit $20,000 and with in 45 days mortgage approval. In September received letter from Pulte Mortgage Company said Credit Denial due to income Insufficient(my husbank got laid off). I also received email for purchase Cancellation Agreement and as me to sign and I refused. We sent a letter to Putle and they refuse to pay back the deposit. Can you please email your lawyer information to me. Thank you very much and I really appreciate your help.
Flag Wed Oct 16, 2013
Michael Cepa…, Agent, Tampa, FL
Tue Sep 23, 2008
Inform the lender of your job loss and request a letter of denial. If you have this provision in your contract, you should be OK but you should still speak with a lawyer in any case. Good Luck
0 votes
Ashok, Home Buyer, Fremont, CA
Tue Sep 23, 2008
I went through the pulte preferrend lender, in fact my loan was approved before I cancel the purchase agreement. When I contact lender they didn't provide any status.
0 votes
Michael Cepa…, Agent, Tampa, FL
Tue Sep 23, 2008
Typically, there is a clause that states you would be able to get your deposit back if you don't qualify for the loan. I would have to assume, especially in this market, that you would not qualify for a mortgage with no job. All you should need to do is supply the builder with the denial letter from the lender. Have your attorney review the contract to see if you qualify for this. Good Luck
0 votes
NonRealtor, , 23456
Tue Sep 23, 2008
Things have changed quite drastically for Pulte and the other home builders in the past 2 years. Good Luck.
0 votes
Ashok, Home Buyer, Fremont, CA
Tue Sep 23, 2008
Hi Maria, Thanks for your input, could you please help me on whom did you contact at Pulte? my email Id id kakkur1@yahoo.com. I would like to talk to you.
0 votes
Maria, Both Buyer And Seller, Mountain House, CA
Tue Sep 23, 2008
Yes, I actually signed a contract with Pulte some 2 years ago with a $6,000 deposit, but I had to cancel just because I found a better deal with Lennar. They gave me back my deposit with very minimal hassles. They just asked why i was cancelling and they refunded ALL my money back! I hope you get you money back too!
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Sep 8, 2008
Contact an attorney if contract states no return of your deposits odds are NO you are obligated sales purchase terms and conditions. Where is your buyers agent what do they state? Why purchasing a home from a builder is best have an attorney or buyers agent who works on your behalf have money paid to title company than direct to builder. SORRY TO HEAR THIS. http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference:  http://www.lynn911.com
0 votes
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