portrait/cb jeni homes in plano, opposite to sams (West: sale, attorney)

[homebuyer15]

i saw some lots there some are close to 121, is it a good thing to buy here?, also portrait recently filed bankruptcy, and came out of it using a new name cb jeni, is it worthwhile to buy a house through them?or would i b risking my earnest money. How is this builder rated?

[yjc281]

Originally Posted by homebuyer15

i saw some lots there some are close to 121, is it a good thing to buy here?, also portrait recently filed bankruptcy, and came out of it using a new name cb jeni, is it worthwhile to buy a house through them?or would i b risking my earnest money. How is this builder rated?

I have personally lost my earnest money and they would not refund it despite having the same owner. Needless to say I would never deal with them again. Luckily, I now live in an area that's far more family-friendly than that place. Still, I would not recommend this company to anyone.

[nsumner]

Actually, Portrait never filed for bankruptcy, they just closed their doors. Pasquinelli who owned them shut them down. Now Bruno Pasquinelli who owned that division is the one that opened the CB Jeni division. It's disappointing to hear that they wouldn't refund your earnest money. Was the money made out to the builder or a title company? Did you file a complaint with the BBB? They are still members.

Naima

[yjc281]

Originally Posted by nsumner

Actually, Portrait never filed for bankruptcy, they just closed their doors. Pasquinelli who owned them shut them down. Now Bruno Pasquinelli who owned that division is the one that opened the CB Jeni division. It's disappointing to hear that they wouldn't refund your earnest money. Was the money made out to the builder or a title company? Did you file a complaint with the BBB? They are still members.

Naima

The money was made out to the builder and that's exactly what the problem is. If it was made out to the title company it might have been easier. I filed a complaint to BBB before but BBB was unable to reach their TX office. I just filed another complaint against their Chicago office. Not sure if it would go anywhere. CB Jeni Homes refuse to be involved at all like it has nothing to do with them only Portrait.

[homebuyer15]

how can we give the earnest money to a title company?, i am not aware of this pattern. I thought the earnest money goes to the builder. Nsumner/yjc can you please elaborate?. If it has to be a title company can we choose our own title company? or will the builder have a title company of his own?

[FalconheadWest]

I had buyers in that community and I got them their earnest money back. Earnest money is not "allowed" to be co-mingled with other funds so your earnest money should have been protected at the title company the entire time. Maybe you didn't talk with the correct people high enough up. I was in constant contact with "Mark" and can't think of his last name right now. Yes, it's made out to the builder, but they have to deposit the funds to be held.

If you want to tell a builder you'll write the earnest money to a title company, first, good luck with that, but second, yes it will more than likely be their title company of choice as they're already holding all the necessary closing documents for the community.

You can't be forced to close and use their title company, but incentives are always tied to it...

[nsumner]

Originally Posted by homebuyer15

how can we give the earnest money to a title company?, i am not aware of this pattern. I thought the earnest money goes to the builder. Nsumner/yjc can you please elaborate?. If it has to be a title company can we choose our own title company? or will the builder have a title company of his own?

If it was a typical sale between you and an individual, the earnest money would go directly to the title company. However, with builders, that money is a lot of times not even referred to as earnest money. Read the contract and they can call it a deposit.

They have the money made out to them and title companies prefer that so they don't get caught in the middle of disputes because it happens more often with builders than typical resales.

Grand Homes is the only builder right now that I know would allow you to choose your own title company and lender. Title companies are regulated by the state and you will see that the services and fees are very comparable so deciding which company to use becomes a mute point.

Naima

[yjc281]

Originally Posted by FalconheadWest

Maybe you didn't talk with the correct people high enough up. I was in constant contact with "Mark" and can't think of his last name right now. Yes, it's made out to the builder, but they have to deposit the funds to be held.

Is this "Mark" still with Portait/Pasquinelli by now? We have made many phone calls to their corporate office and they kept forwarding the call to a phone number that always went to voice-mail. We left messages twice but no one ever called back. I can only assume that they don't want to give back the money. Talk about bad faith. My realtor even suggested us to contact Texas Attorney General. We did but nothing happened. Some suggested hiring a RE attorney but the cost would be more than the earnest money. SO what's the point?

[homebuyer15]

now cb jeni is asking a whopping 10k as earnest money

[homebuyer15]

yjc , can you elaborate your situation how did you lose the money, did you pay the earnest money for an inventory house or a new construction?, did you had to back out later after the house was finished building or portrait just took your money and left?.please explain your situation.