Three women planning to retire in Naples, FL were hoping to be neighbors in the Bristol Pines Community off of Collier Boulevard, but instead all of them have lost most of their deposits on homes that were supposed to be built 5 years ago.
Bristol Pines developer never built the homes that they were contracted to build, but instead ran into financial trouble, defaulting on more than $30 million in loans.
The still vacant lots are headed to public sale on September 21, 2011. The three women had taken out loans and accumulated retirement funds to cover the costs of their down payments. Now, with an attorney that has been working on getting their money returned, with no luck, the three women are losing hope.
Working with an experienced Real Estate Professional ensures that you are aware of the possibilities in a transaction when you are signing contract, and can help you to avoid these situations.