I submitted the 500$ earnest money deposit to LGI homes without looking at any other builders. A few days later, I found a different builder that offered a larger house with energy efficient features, that was priced lower than the house I was interested at LGI.
I was shocked at the difference in quality between builders, and mad at myself for not doing more comparison shopping of builders before choosing LGI.
I was told by the sales agent Sara at LGI to come down to the office and sign a cancellation form in order to receive the 500$ deposit back. Once at the sales office, I was told by Sara that I was not going to receive my 500$ earnest deposit back, and that it was used to fix my credit score. I was never informed that LGI paid any money to fix my score. This was news to me, as I had paid off some credit card balances on my own to raise my score the few points needed to qualify.
I wasn't aware that LGI was able to "pay" to have a credit score changed. I was made to believe that I would receive my deposit back if I chose not to purchase an LGI home.
Anyway, I never received my 500$ deposit back, but am so glad not to have bought the house from LGI in San Tan Valley AZ.
The construction of the houses and even the outside appearance was cheap looking compared to the house I have purchased. Not to mention the sales people at LGI are high pressure and very dishonest.
Product or Service Mentioned: Lgi Homes House Construction.
Monetary Loss: $500.