Having issues with a home builder

[Ja Rhule]

Yeap, outside financing.

[pstall]

something doesn't add up then. If you have financing then DR must really not have the capital on hand to fund ONE house. Which is scary despite the news of homebuilders.

Sounds like they aren't even worried about reputation. See if you can contact their home office, raise a stink and tell them you would hate to go to the media.

Give them a deadline. If no movement in 5 days you walk and make sure everyone knows why.

[pstall]

Arsen let me work some connections tomo. I know some guys who own their own building firms. See what the skinny on DR is and what else you can do to get them to dance or at least get out of your deal.

[pstall]

take a look at their 10Q and see if it makes sense. Cash going down. Liabilities going UP.

http://www.drhorton....EC-Filings.aspx

one quick look at some recent news. they had a dividend announcement in April. The statement says profits and inventory is going up. Yet in may they are raising cash from Senior notes.

Either the div is a PR play to gain capital from other investors to avoid using their own cash or sell assets or they have some giant exposure they are unwilling to disclose.

If they are rolling like they say, this local builder dude would have already had the concrete poured. Doesn't sound right. Not enough skilled labor? Meh.

The fuzz knows this stuff too. He would be good as well.

[Squirrel]

Probably like most companies undermanned and afraid to hire more people til they know the economy is stable.

[Ja Rhule]

Thanks guys. Their fiscal year ends on September 31st. I send em an email and told em if my concrete is not in place by July 1st, I will close in mid October.

[Brooklyn Bully]

I'm so glad with something so important you... sent him an e-mail.

[Guest herpes]

fug his wife then tell him if he doesn't get his ass in gear you'll be back for his 18yo daughter.

[KendrickPanther]

A ton of builders I thought were making bank went out of business in the recession. Guys living in million dollar homes driving $35k trucks were firing everyone on staff and moving into smaller homes hoping to make some money on theirs. They would have multiple finished homes with interest only payments and property tax and couldn't sell any of them.

[Guest herpes]

A ton of builders I thought were making bank went out of business in the recession. Guys living in million dollar homes driving $35k trucks were firing everyone on staff and moving into smaller homes hoping to make some money on theirs. They would have multiple finished homes with interest only payments and property tax and couldn't sell any of them.

Sounds like guys with a 250k home 20k truck salary were living it up. poo gets em every time...

[charlotte49er]

Sick "9 on your side"on them. Worth a shot.

[Iceberg Slim]

Don't know if this will help or not but here is a website I found that speaks to some of your issues from the persepctive of someone who owns a home created by them.

http://drhortoncompl....net/lot20.html and http://www.consumeraffairs.com/housing/dr_horton.html

Bottom line is, I'd run now...see if you can get your deposit back........Toll Brothers built our house and we had a great experience, if you can get away from these clowns try them...

[Ja Rhule]

We got an email from the guys and apparently construction will start this week and this time it's for real because we have an orientation. So we'll see. I will be a serious pain in the ass to builder. I live block away from where I'm building my new home so you know ill monitor building progress daily.

[Niner National]

We got an email from the guys and apparently construction will start this week and this time it's for real because we have an orientation. So we'll see. I will be a serious pain in the ass to builder. I live block away from where I'm building my new home so you know ill monitor building progress daily.

I don't know the status of the neighborhood you are buying into, but if you are having this much trouble getting them to build your home, seems like others might as well.

Is the neighborhood pretty close to finished or does it look like a construction site? I'd hate to buy into a neighborhood where it looks unfinished for the next 10 years.