Business ProfileforFischer Homes

Date of Transaction:Initial Contract and $4730 Deposit: 01/03/2024 *********** Appointment and $51,178 Payment: 01/18/2024 Amount Paid Total: $55,908 Nature of Dispute:We contracted Fischer Homes to build a custom home, using their lender, Victory Mortgage. Our initial approval was based on preconditions that were not achievable, specifically the sale proceeds of our current home.Details:On 01/03/2024, we put down a $4730 deposit to secure a lot with Fischer Homes, contingent on preapproval from Victory Mortgage. We were informed by our mortgage counselor, *********************, that an additional $51,178 would be needed at our design appointment on 01/18/2024. We were assured that securing a short-term loan from AMEX, to be paid off by our HELOC once available, was acceptable.Our home, appraised at $425,000 by PENFED, was to be sold to cover remaining costs. Despite ****'s assurance and preapproval, issues arose when our condo struggled to sell, prompting us to explore alternative financing options. We learned from other lenders, *********************** with MJW Financial and *************************** with ****** Mortgage, that even with our condo sale, our approval by Victory Mortgage was unattainable without a co-signer. Victory Mortgage incorrectly listed our sale proceeds at $350,000, ignoring the actual appraised value and our financial obligations.Resolution Efforts:We requested a refund of our deposits from Fischer Homes, given the unrealistic preapproval and financial misrepresentations. Fischer Homes offered to credit our deposit towards another build, but no suitable locations are available. We seek a refund of $51,178 as this amount was deposited based on the misleading preapproval.Advertising and Communication:All agreements and communications were facilitated through Fischer Homes and Victory Mortgage representatives. The misrepresentation of our financial situation has caused significant distress and financial strain.We appreciate your assistance in resolving this matter.