Feedback: John Wieland Value Protection Plan (Nashville: new home, neighborhoods, buying)

[Riley VT]

Nearly five years ago and the bottom of the market, Wieland offered the Value Protection Plan below:

John Wieland Offers Value Protection on New Homes
April 14, 2008 | staff | Comments 0
Beginning in April, John Wieland Homes and Neighborhoods will offer the Value Protection Program on new homes. This benefit will be included on each and every new John Wieland home at no cost to the homebuyer.
John Wieland is working to build confidence in a dim market full of uneasy buyers with his “Value Protection” program. Five years after closing, if the homeowner’s new John Wieland home does not appraise for at least the purchase price, John Wieland Homes and Neighborhoods will pay them the difference. The complete program conditions and procedures are included on an enrollment certificate that is completed at the time of closing. Offering peace of mind to the homebuyer against any decline in value, this program is unmatched in the homebuilding industry. Best of all, this program does not require homeowners to sell their home in order to make a claim; they simply order an appraisal from an agreed upon list of appraisers.

Five years later, I am interested in obtaining feedback from anyone who has exercised the VPP. Thanks in advance for any insight you may offer.

[AFY]

Five years later the John Wieland homes my neighbors and I purchased in Taramore subdivision in Nashville are selling for $60,000 to over $80,000 less than they were purchased for. Wieland's list of approved appraisers is really not a list, but a choice of two. The Weiland appraisers also are consistently appraising the homes as being worth $20,000 more than the independent appraisers hired by the homeowners. My friends who have submitted their paperwork on time are getting no response from John Wieland Homes although the paperwork was submitted months ago. I begin the process at the end of December and have no faith that John Wieland Homes will come through. I am almost certain this will end in a law suit.

[Suncc49]

Buying new construction is a bad idea these days. Only if it is the most absolutely terrific and in demand location.

[AFY]

How could we lose though? We had the Value Protection Plan! Ha! See how well that has worked for us.

[Victor Brazil]

did every home receive this value protection plan offered after April 2008. I purchased in2010. Several neighbors who purchased around the same time have the plan. It appears that i do not because i did not receive a certificate