Re: Cases used to get out of CAS arbitration

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Rick, most purchase agreements are (supposed to be) contingent on the buyer getting
financing. The deposit is supposed to go into a neutral escrow account, not held by
the builder. But things have changed and many buyers find that they don't have these
protections anymore, whether they don't know to ask for it, or the contracts have just
become that much more one-sided. In the future, I would not recommend buying from a
builder who gets to keep your deposit if you can't get a loan, nor would I recommend
buying from one who won't let you take contracts home to have them reviewed by your
attorney BEFORE you sign, and get a home inspection at least once before closing,
preferably more. Often, people can either pay the lawyer a relatively small fee up
front to review things, or they can pay an attorney later for a lot more, if there's a
problem. Same for a home inspection. Should ideally be done during construction so
mistakes are caught in time. The worst defects can be hidden by the time you do your
pre-closing walk through.

I know almost none of that helps you now, sorry.

For the time being I can mostly just sympathize, as CAS is now known for bias and
problems, and I don't know of anyone who has come out of arbitration with them feeling
like there was a fair decision. CAS like many arbitration providers does repeat
business with the builders, warranty companies, etc, so it's no wonder if they favor
the industry.

You might consider submitting a complaint at www.hadd.com and www.hobb.org too.
Volunteers with these orgs have amassed quite a bit of info on CAS from public records.

On 9/19/07, Rick wrote:
>
> Toll Brothers dishonesty!!!!
> I recently entered into an agreement with Toll Brothers and after signing the
> agreement of sale I was turned down for a loan by my lender. I am going to
> Arbitration soon to get my deposit back. Toll Brothers has treated me dishonestly
> and unfairly throughout the process. I really don't know what to expect from CAS,
> however I have hired a sharp attorney
>
> Rick
>