Hi Bel – aren’t you “someone from RETA”?
We’re not looking for someone to “explain” anything. The Purchase Agreement clearly says the developer will provide 6.5% financing, as RETA also promised, and now the developer is refusing to honor its contractual commitment. So we’d like RETA to stand up for its members.
When I contacted the RETA concierge about this matter, I was told to contact a lawyer. So it seems RETA has no intention of pressing the developer on this issue, even though RETA promoted the 6.5% financing in marketing the deal to its members.
I’m in a position to pay cash for the balance, which is what I’ll do. But I wonder how many investors in The Village at Corasol don’t have the cash, and can’t obtain alternative financing, and therefore are going to be screwed out of their RETA-promoted investments.
