Lennar — Continue with the purchase of the house they chose and designed the options
I am a Texas Realtor and my clients signed a contract to build a house. The contract was signed 8/26/2020. The sales person, Steve Renshaw, said that the house would be ready in the middle of December. They kept changing the projected completion and they finally had it ready for Feb 28. My client had to use an outside lender because it was a Bank Statement loan. On Feb 26, the loan officer sent an email stating that the underwriter needed an extra week to release the CD. Everything was in place and we were told that there wasn't anything missing. This message was received by Steve Renshaw and he immediately responded stating that if we didn't close on time Lennar would cancel the contract. In fact, he emailed the cancellation to the buyers with the Release of Earnest Money $2, 000. Needless to say, my clients were in shock. They never requested to cancel the contract so they didn't sign the release. On February 2, my clients got the CD to sign and we were ready to close on the house that they had been waiting for over 5 months. When I informed The sales person (Steve Renshaw) about being ready to close, he said that it was too late, that they had already sold the house to someone else. I really consider this to be very unprofessional and unfair treatment of a customer.
I understand that if they sold the property to someone else, they are going to close in at least 4 weeks. I don't understand why they don't want to close in two day with someone who has everything in place. Is this a case of redlining? The buyer wouldn't mind paying the $100 per day for the delay.