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Can someone explain why it takes MONTHS for this company to return sight unseen deposits? Although it’s something I would never do… I have to wonder about someone that made me wait months to return a deposit… after all it’s not as if the company has an expense in taking the deposit… so why? I’m not bashing them… don’t know them… don’t do (or have done) business with them…. I’ve seen their ads… I’ve read the stories about them…. both good and bad… but I have an open mind… it’s just a question that perhaps one of the folks representing them might have an answer for.
It would seem to me that when there are people out there bashing you that you’d make every effort to keep your reputation spotless and not do things like holding deposits.
I’ll await a reply…. or for my posting to disappear.
8:34 AM here in the states
I’m still waiting to hear from Bill Gale because it seems that Lyle Wexler has to go through him as well as Esteban Soto C. Our partner has not heard from Bill Gale either. I’ll let you know when they call and what they say. I’ll be glad to post positive information as soon as such happens.It’s there business model…high pressure arm bending sales. They don’t want to return deposits that deposit represents someones commission…”God bless” these sales people that can convince someone, anyone to wire away $25,000! I can hear the sales manager ” Get those bastards down here, make em’ walk the land show them the views, take um out to Los Suenos tell em it’ll look like this when it’s done….do they want to miss the chance to triple there money in 3 years when the highways built and the airport !!!!!” I love sales…lol!
I have to say this is a prime example of why not to buy property sight unseen.
I would ask that same question of why it takes so long to return the deposit.
Here are some reasons maybe why they want to hold on to the depost!
A.) They know that the buyer can develope buyers remorse, so they state that you have to physicaly come and view the property so that they can use the sales techniqe to help you change your mind.
B.) Maybe they are hoping that if they can put restrictions on the refund of the deposit that it would limit the amount of people that would back out at the last moment.
I guess we should ask did the buyer know these restrictions?
Why did the agree to the purchase agreement if they knew these restrictions?
Why did they buy this property sight unseen?
I just ask these questions to better help my understanding why a consumer would take these risks.
Even in this forem we have seen people make the same mistake after people have recommended them not to follow that foot path.
Another reason they might keep this deposit for months is so they have use of the money and/or collect the interest on it. I know this company is actively out buying more property and that usually takes cash.
9:40 Am here in the states
I just received a phone call from Lyle Wexler, stating he has approval to issue us a refund of our deposits on Lot#25 in Ocean Palms South and Lot#80 in Buena Vista. He is going to put a rush on the refund. He said it should take about 4 to 6 weeks. That would put it towards the end of June. I thanked him and said I would post positive notes as they happen. I will let you all know as soon as the refund is received. Thanks for listening.10:15 AM here in the states
I just received an e-mail from Lyle Wexler confirming Paragon Properties decided to accept our request for refund on the two properties. It included the dollar amount and that we should expect to be paid no later than the end of June “07”.Congradulations to Scott – looks like the influence of this forum has the power and influence to get things done!
If you buy somthing (tv, car etc.) it is normal that you have some kind of garantee (1-2 years). If you buy land that you have not seen, and if you don’t like it there is a 100% refund, that is a “great marketing-instrument”. A period of 180 days is not unreasonable. A company (bad or good) has to be able to continue its activities and not any day in the future be confronted with buyers who regret the buy and want their money back.
Everybody sometimes bought something that he didn’t like anymore. You want your money back ? Sorry, not possible….
What would happen if we are some day not satisfied with our Fords, Chevrolets or Chryslers ? Return them to the factory ?If you make a big purchase (car, house, land) read the contract and the small letters. Land in Costa Rica ? First have a look…… ALLWAYS !
Problem with all investments is: greed !
Glad to see a positive outcome…. there’s a lesson here for anyone reading this forum and thinking about sending money sight unseen to ANYONE…. DON’T do it!
I’d still like an answer from those involved as to why it takes so long to send a refund? I’d have to guess that the deposit was wired to the company… why not wire it back? If there’s such a rush to get the deposit to get in on the “Costa Rica real estate boom” why wouldn’t these folks want to return the deposit to allow customers to find the property of their dreams! 🙂
Good business practices go a long way… as does good will… I don’t see much of either in holding deposits for such a long time.
Thank you rf2cr but I didn’t do anything except provide the means for two parties to communicate with each other.
*** We will probably have to change the rules soon regarding Discussion Forum postings for companies selling land in Costa Rica.***
It is taking an ENORMOUS amount of time, energy and yes – money too trying to ensure that these topics are discussed diplomatically and within the confines of Costa Rica laws which are very different from US laws.
We must remember that slander and defamation are criminal offences in Costa Rica and not civil offences which means that people can be locked up for saying things that are considered slanderous or defamatory in Costa Rica so please remember this if you see that a comment has been deleted and you aren’t sure ‘why’.
The definition of slander and defamation in Costa Rica is also much broader than it is in the USA. Perhaps one of the reasons the Ticos are so unconfrontational?
I am not be sure exactly ‘why’ either most of the time but the most powerful attorney firm in Costa Rica – is sure and since I have also been personally slandered and defamed publicly in this forum, we need to ensure that this does not happen to others.
Scott Oliver – Founder
WeLoveCostaRica.comThis was very informative. I just became a memeber and this was my first surf of the site. I am glad I took the time. And I am glad things may work out for Roxanne.
I did not see any discussion or comments re. escrows. Is it usual in CR real estate deals to use escrow agreements for the deposits? If I buy (and I will within one year), I will look to use escrow with an independent escrow officer. Is this an unreasonable expectation?
I recently contacted Paragon Properties and received their portfolio in the mail. After several phone calls from different people, I was contacted by one of the reps. I informed him there was no way I was going to send a deposit to reserve my land without seeing it. I doubt I’ll hear from them again.
This all happened last Monday, before I read these messages. I’m glad I didn’t send a deposit.I’m interested to know why so many people on this forum are buying this land sight-unseen and then cancelling. Is the land really that bad?
Edited on May 13, 2007 09:54
Why doesn’t someone tell us exactly what it says in the contract?
Regarding the expense of taking the deposit the contrary is true; the company would have gone to great expense to generate the lead and the sale including paying commissions involved.
Surely these poeple send photos of the land and the views so I find it hard to believe that the material is so different from the actual product…which again leads me to wonder why so many people are cancelling….
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