Monday, August 18, 2008

Consumer Alert from ADRE

Got this in my email today from the Arizona Department of Real Estate...

Consumer Alert

August 18, 2008

Most Arizona homebuilders continue to meet their obligations to customers however; there are some who are currently facing challenges in meeting their commitments to consumers.

“Homebuyers and their real estate agents have the right to know if a builder is in financial trouble and what the status of their earnest money or home completion is. The Department of Real Estate can help provide this information and give assistance to consumers in need,” stated Sam Wercinski, Arizona’s Real Estate Commissioner.

The Department is now posting information on builders who are in bankruptcy or are having financial difficulties so consumers can make informed decisions and take steps to protect themselves. A list of known builders is available on the Department’s website: Consumers should also reference the Commissioner’s Advisory No. 2 on the website's home page which provides guidance for homebuyers, real estate agents and others impacted by a builder ceasing operations.

Sam Wercinski

Arizona’s Real Estate Commissioner

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