Bushmaster
Junior Member
What is the name of your state? Florida
I am not one to easily think the "sue" word. But, I am out a lot of existing and potential equity in a piece of property I was trying to purchase.
Brief Background:
Found 1.5 acres of land in Florida to purchase to build a home. Shopped around for the best rates and eventually decided on Suntrust. Closing date was scheduled for 2 1/2 months after the bid. Luckily the sellers were nice enough to wait for all the EPA, Perc tests, appraiser, and land surveys. This is a hot market in Florida, so everyone was backed up and it was going to take that long for all the tests.
I worked with Suntrust the whole time. Everything was going great. About two weeks before closing they had their appraiser come out to the land. This was a suprise to me, since they never mentioned they wanted an appraisal before this. And why did they wait this long to send him out? I wasnt concerned though, since I figured the selling price was fair. He showed up May 31st to look at the land. Closing date on the land is June 5th.
June 1st I recieve a call from my Suntrust mortgage girl saying that everything went fine, except the appraiser found something online about well water contamination. I immiediatly went online and searched as well. There was well water contamination, but it occured about 3 miles away! I called the bank back and told them this, also telling them there are hundreds of other houses in this neighborhood with well water that is consumable. I asked if some sort of water test could be performed, so we could work with "facts" instead of "theories". I basically got blown off at this point.
June 2nd: I called the city and asked if city water was going to be available in that neighborhood. They said YES, in about 6 months. I got them to fax me over info stating this. I then called Suntrust back, and asked if I faxed them over documentation from the city stating they are about to place city water in the neighborhood if this would fix our problem. She said YES, and to fax it over.
I tried calling her June 3rd about 30 times. And got no call backs.
On June 4th, I tried calling her about 10 times. Then I started going sequentially through the last two digits of the her phone number to ring other extensions in that office. I left numerous desperate voice mails on random peoples voice mails within that office. I couldnt get anyone on the phone! I even called the front desk, and asked for her boss! And of course, got her voice mail. I asked to speak to anyone regarding loands, and yes I got voicemail.
Later that day the title company is also calling me trying to figure out what time I will be there June 5th to close on the land! I call them back, and tell them my whack job mortgage girl has gone missing!
June 5th comes, and I still cant get ahold of anybody at the bank And I miss my closing. The sellers pull out, and the deal is gone
June 7th I get a voice mail from the mortgage girls boss. She tells me she is no longer employed at the company. And says there is a note on my file saying they called me 1 1/2 weeks ago telling me I could get my money back and to go to another bank. HUH? This doesnt add up! The date she is telling me is BEFORE the appraiser even showed up to appraise the land! The date she is telling me took place BEFORE I talked to my mortgage girl and she tolled me I could fax over the city water documents to finalize the deal. Infact at that date I was still on my way to having a sucessfull banking transaction with their company.
I have been trying to get her boss to return my calls since she left me a message.. To no avail.
Land in this neighborhood is now going for 20k more then when I started this transaction almost 3 months ago. Now way out of my price range. If the deal would have gone through I would have 20k of equity right off the bat. Possibly even 100k in equity a year or more.
Do I have any recourse here? I am out a lot of money becuase of this banking fiasco, and a lot of future money. I am now just burnt out from this whole ordeal.
I am not one to easily think the "sue" word. But, I am out a lot of existing and potential equity in a piece of property I was trying to purchase.
Brief Background:
Found 1.5 acres of land in Florida to purchase to build a home. Shopped around for the best rates and eventually decided on Suntrust. Closing date was scheduled for 2 1/2 months after the bid. Luckily the sellers were nice enough to wait for all the EPA, Perc tests, appraiser, and land surveys. This is a hot market in Florida, so everyone was backed up and it was going to take that long for all the tests.
I worked with Suntrust the whole time. Everything was going great. About two weeks before closing they had their appraiser come out to the land. This was a suprise to me, since they never mentioned they wanted an appraisal before this. And why did they wait this long to send him out? I wasnt concerned though, since I figured the selling price was fair. He showed up May 31st to look at the land. Closing date on the land is June 5th.
June 1st I recieve a call from my Suntrust mortgage girl saying that everything went fine, except the appraiser found something online about well water contamination. I immiediatly went online and searched as well. There was well water contamination, but it occured about 3 miles away! I called the bank back and told them this, also telling them there are hundreds of other houses in this neighborhood with well water that is consumable. I asked if some sort of water test could be performed, so we could work with "facts" instead of "theories". I basically got blown off at this point.
June 2nd: I called the city and asked if city water was going to be available in that neighborhood. They said YES, in about 6 months. I got them to fax me over info stating this. I then called Suntrust back, and asked if I faxed them over documentation from the city stating they are about to place city water in the neighborhood if this would fix our problem. She said YES, and to fax it over.
I tried calling her June 3rd about 30 times. And got no call backs.
On June 4th, I tried calling her about 10 times. Then I started going sequentially through the last two digits of the her phone number to ring other extensions in that office. I left numerous desperate voice mails on random peoples voice mails within that office. I couldnt get anyone on the phone! I even called the front desk, and asked for her boss! And of course, got her voice mail. I asked to speak to anyone regarding loands, and yes I got voicemail.
Later that day the title company is also calling me trying to figure out what time I will be there June 5th to close on the land! I call them back, and tell them my whack job mortgage girl has gone missing!
June 5th comes, and I still cant get ahold of anybody at the bank And I miss my closing. The sellers pull out, and the deal is gone
June 7th I get a voice mail from the mortgage girls boss. She tells me she is no longer employed at the company. And says there is a note on my file saying they called me 1 1/2 weeks ago telling me I could get my money back and to go to another bank. HUH? This doesnt add up! The date she is telling me is BEFORE the appraiser even showed up to appraise the land! The date she is telling me took place BEFORE I talked to my mortgage girl and she tolled me I could fax over the city water documents to finalize the deal. Infact at that date I was still on my way to having a sucessfull banking transaction with their company.
I have been trying to get her boss to return my calls since she left me a message.. To no avail.
Land in this neighborhood is now going for 20k more then when I started this transaction almost 3 months ago. Now way out of my price range. If the deal would have gone through I would have 20k of equity right off the bat. Possibly even 100k in equity a year or more.
Do I have any recourse here? I am out a lot of money becuase of this banking fiasco, and a lot of future money. I am now just burnt out from this whole ordeal.