I have gotten feedback from enough buyers to understand that the Vue Charlotte has a file on each of us and what our situation is. This of course makes perfect sense. They need a way to keep track of who is closing, who may close, and who won’t close. Of the folks that won’t, it would make sense that they try and sort out who can and can’t close, especially as per the court order posted in an earlier article where the Developer sued for specific performance and won.
I believe the following to be true. If you apply for a loan and are denied, you can obtain a “Mortgage Denial Letter” which you can then send to the Vue and they place in your file. Whether this will help you down the road is really anybody’s guess. Our contracts had no financing contingency. So just because you can’t close doesn’t mean you are legally off the hook (or at least this is my understanding). But the Vue has shared with several buyers that the process for those who can’t get financing is to send this denial letter to them. I advise that all who applied for financing and cannot obtain it to do so. This, among other things, let’s them put your unit back on the market.
Unfortunately, my information is telling me this makes up a sizeable number of us. But I truly have no idea how many. Only the Vue Charlotte does.
Have feedback? Please let it in a comment or write to Vuebuyer10@yahoo.com!