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Old 02-21-2014, 08:06 PM
 
4 posts, read 12,616 times
Reputation: 12

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We broke our contract with Gibraltar Home Builders because of all the horror stories we heard about them. I will not go into details here, but we did the right thing. They had not even laid the foundation for our home in Lakewood Ranch. We lost our deposit and still have a lean on our house for $60,000.
Fortunately we found another builder, Sal Pileggi, who was wonderful. I highly recommend him if anyone is looking for a builder. He built a high quality home and was very honest.
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Old 02-23-2014, 09:01 AM
 
93 posts, read 179,382 times
Reputation: 50
I agree with Zero. We were in the process of building almost 3 years ago with Adams homes, and we also walked away and lost our deposit. The real estate lawyer we hired was confident that we would "win" our deposit back since they were hold it since we walked, but he was also realistic that it would probably cost 3 times MORE then the deposit to win it back.

I never went to the forum and just said "DO NOT BUY from Adams..." I gave examples, like for instance, we were 3 months out of contract and the home still wasn't completed. They missed an exterior door we contracted to pay extra for. They missed a HUGE bay window in the master bath that we contracted for pay extra for. Oh, and the BIGGEST issue that I specifically asked about when we went under contract...was the appraisal. We had a financing contingency (which is how our lawyer felt confident that we could get our deposit back) and the home came in under 30K the contracted price and at first, they wouldn't lower the price. When they realized we would walk, that's when they said they would lower the price...but between the delays after delays after the delays AND the home was not as we were contracted (we REALLY wanted that door in the garage and the window in the bathroom.) we decided to not follow through, and we felt we had every right to walk.

Several weeks later we get a threat in the mail for failure to perform and they attempted to force us to buy the house at the new price, but we wouldn't agree to the change in the terms of the contract.

See, I have VERY valid reasons for complaining about them...not just naming them as a "BAD" builder.
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Old 02-24-2014, 09:29 AM
 
2,076 posts, read 2,877,718 times
Reputation: 1019
We walked away from an apartment building at the 11th hour because we couldn't get insurance on it without making some repairs and we couldn't make repairs on a property we didn't own. Of course it is more complicated than that, but that is the essence of it. Right at the time we had communicated our intent to withdraw, an insurance agent finally offered to write us insurance. Since we had been turned down by about 15 agents representing the same set of carriers, we were not comfortable that we could get insurance again if this carrier went under or if they refused to renew us next year, so we went through with the cancellation expecting to lose the deposit.

(And yes, we had the building throughly inspected during the due diligence period. We budgeted to make the repairs over an 18 month period. But being unfamiliar with Florida insurance, we didn't realize that some of the repairs would prevent us from getting insurance.)

We were mildly worried about being sued for specific performance, but a variety of factors made us decide the chances of that were remote. We only had a $10,000 deposit down, but our real estate attorney, Brad Moyer, arranged for the deposit to be split between us and the sellers. Perhaps a real estate attorney could help you with your situation.

Original poster, I understand your reluctance to go into all the details on this forum. Your intent was to warn people to be cautious about Gibraltar. I bet you are surprised at the feedback you are getting.
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Old 02-24-2014, 11:16 AM
 
98 posts, read 270,593 times
Reputation: 155
No matter what the first poster stated, that is no reason to jump all over him/her. There is some good information in the posts after the original but I wouldn't give you the time of day the way you attacked "Free to Run".

With that said, some of the good information is that you can't just walk away because you heard things. You do need to have something concrete to base that on. You can bet they will sue you for something. One of the owners is an attorney.

I have been there and seen that. I know for a fact that Gibraltar was one of the best custom builders around a few years ago. They got into trouble with poor general management and even worse cash flow management. Most thought they would go belly up. So far, they haven't and actually seem to be turning the corner and getting out of the bad situation they got themselves into. I still wouldn't recommend them to build anything. Check back in a few years and see where they stand.

One example of how bad they got is they had the nerve to go to some of their cash buyers and say they needed more money to finish their house even though they had a contract for a specific amount. They even had the nerve to ask one customer if they could have the extra cash and then double it as a loan.

No matter who your builder is, make sure you get what are called "unconditional lien releases" before making each payment to them. And, when a sub-contractor is complete with their work, make sure to get a "final lien release" from them. The builder should supply these to you. If you have a bank, the bank should make sure this happens before each draw but I would recommend you make sure to get copies of everything and keep track on your own.

Good luck building your home!
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Old 03-08-2014, 08:25 AM
 
4 posts, read 12,616 times
Reputation: 12
You want facts? There are many others in Lakewood Ranch who have walked away from Gibraltar. There is a house that is still not complete after two years of waiting. Lakewood Ranch told me that Gibraltar would never build on their property again. If you want to trust them, be my guest, I sure wouldn't. Check their rating on BBB.
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Old 03-09-2014, 08:26 AM
 
98 posts, read 270,593 times
Reputation: 155
Quote:
Originally Posted by Free to Run View Post
You want facts? There are many others in Lakewood Ranch who have walked away from Gibraltar. There is a house that is still not complete after two years of waiting. Lakewood Ranch told me that Gibraltar would never build on their property again. If you want to trust them, be my guest, I sure wouldn't. Check their rating on BBB.
There is no doubt about what you state. They definitely have screwed people over. As I said previously, they have asked homeowners for extra money even though they had a contract at a certain price. No matter what builder you use, though, make sure you get those lien releases at each payment to your builder. Gibraltar is not the only builder to have screwed over their customers.

In addition, the ranch did some things that seriously hurt the small custom builders, like Gibraltar and others. They went against what their original philosophy was for the land and went for the easy money in their pocket. I guess you can't blame them for wanting the easy money but their hands aren't clean when it comes to the issues some of the smaller custom builders have had.
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Old 02-17-2015, 08:41 PM
 
21 posts, read 23,183 times
Reputation: 25
Quote:
Originally Posted by mylittletyguy View Post
I agree with Zero. We were in the process of building almost 3 years ago with Adams homes, and we also walked away and lost our deposit. The real estate lawyer we hired was confident that we would "win" our deposit back since they were hold it since we walked, but he was also realistic that it would probably cost 3 times MORE then the deposit to win it back.

I never went to the forum and just said "DO NOT BUY from Adams..." I gave examples, like for instance, we were 3 months out of contract and the home still wasn't completed. They missed an exterior door we contracted to pay extra for. They missed a HUGE bay window in the master bath that we contracted for pay extra for. Oh, and the BIGGEST issue that I specifically asked about when we went under contract...was the appraisal. We had a financing contingency (which is how our lawyer felt confident that we could get our deposit back) and the home came in under 30K the contracted price and at first, they wouldn't lower the price. When they realized we would walk, that's when they said they would lower the price...but between the delays after delays after the delays AND the home was not as we were contracted (we REALLY wanted that door in the garage and the window in the bathroom.) we decided to not follow through, and we felt we had every right to walk.

Several weeks later we get a threat in the mail for failure to perform and they attempted to force us to buy the house at the new price, but we wouldn't agree to the change in the terms of the contract.

See, I have VERY valid reasons for complaining about them...not just naming them as a "BAD" builder.
I've seen enough about them. Plus they are inflexible, as you alluded to. They can build a cheap home bc they pump out the same model time & again w/ no changes. A lot of the supporting posts of this co. are made by people who only posted on this topic. Not a good sign. If you're a builder & you have sales ppl sitting around, their down time could possibly be filled by refuting things online.
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