A 77-year-old Utah County woman is suing a group of developers, saying she was swindled out of $600,000 after being promised a 15 percent return on a real estate project in Hurricane.
The Salt Lake Tribune reports that Patricia Tanner has sued H&S Investments, Summit Development, Management, American Commercial Real Estate Specialists Group, and Utah Commercial Real Estate.
Click Here to Read: Utah County Woman Sues Group Of Developers...
Showing posts with label Developers. Show all posts
Showing posts with label Developers. Show all posts
Resale Fees That Only Developers Could Love
REBECCA AND TRENT DUPAIX of Eagle Mountain, Utah, spent a year searching for their dream home. The couple, who have five children, considered 15 to 20 houses before finding “the one.”
They were thrilled when they closed on a $227,000, rock-and-stucco home with five bedrooms and two and a half baths in March 2009.
But four months later, when a local television reporter was doing a story on housing taxes in their subdivision, the Dupaixs discovered that their sales contract included a “resale fee” that allows the developer to collect 1 percent of the sales price from the seller every time the property changes hands — for the next 99 years.
Click to Read: Resale Fees That Only Developers Could Love...
They were thrilled when they closed on a $227,000, rock-and-stucco home with five bedrooms and two and a half baths in March 2009.
But four months later, when a local television reporter was doing a story on housing taxes in their subdivision, the Dupaixs discovered that their sales contract included a “resale fee” that allows the developer to collect 1 percent of the sales price from the seller every time the property changes hands — for the next 99 years.
Click to Read: Resale Fees That Only Developers Could Love...
Subscribe to:
Posts (Atom)
