Dan Ryan Builders

Posted on Saturday, August 5th, 2006 at 1:37pm CDT by 998936a8

Company: Dan Ryan Builders

Category: Other

My experience with Dan Ryan Builders didn't go further from the initiation of contract. I have to warn anybody who would be interested in signing a contract with these people. Their prices are very attractive but that is before you read the contract which has:

1. No beginning and no ending date for the home building, only a clause that they will complete a project in 3(!) years but without any penalty on them if they don't.

2. Clause to charge you with 2% interest PER MONTH after the settlement date if you fail to settle for whatever reasons they find you in default.

3. They determine the settlement date and you have to respond to a written notice 2 days after they mailed it!

4. You have to waive rights to sue them in case of a dispute and you are a subject to binding arbitration. You also wave the rights to participate in a class action lawsuit.

5. They reserve the rights to do whatever they want on your property even after you have settled and took a possession of it.

6. They deserve the right to change your lot!

7. They refuse to use escrow for any deposits you make, and they all have to be payable to them.

8. They reserve the right to add arbitrary charges to closing costs and total transfer tax is paid by the seller.

Laughable, isn't it? When you point out the obvious the response of their sales people is that this is the "standard" contract and that they cannot remove or change anything. "You know we will do this and do that ... we won't delay ..." but when you ask them to put that in writing then they cannot. Good grief, run away from them.


3 Comments

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887dafcc, 2007-10-03, 04:58PM CDT

Hi,

My husband and I are dealing with this.. Can you tell me what your outcome was? They are telling us they are going to sue.

d711251c, 2009-11-10, 08:35AM CST

I've had some of the worst experience with DRB. They are great up until the time you sign the contract. After that - it's like the vampires come out. They try to unload any and every cost onto you - even when my lawyer, title company, bank, realtor, and other professionals object and state that the things they are pushing on me are seller's closing costs. Also, any negotiation after the signing you pay more than double the fair price for it. My advice is to stay away from Dan Ryan Builders - it's like mafia-style sales and contracting, seriously - get out while you can!

871f9850, 2012-12-13, 12:30PM CST

OMG! After their loan people changed the terms on the loan, they forced me into continuing with the purchase by threatening to sue me for $10,000 per month! They did this while I was dealing with a terminally ill father. Then after being in the house for 5 years, I have a major plumbing issue that started slowly when the house was completed but didn't show itself until it was "out of warranty"! My ceilings are caving in, faucets are blowing through the ceiling, wood floors are turning black due to water leaks behind the wall! I am now facing a short sale just to get out from under the money pit!!!

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