Consumer Complaints and Reviews
Renovation Realty Scam San Diego California
I am writing to report the repugnant business practices of Renovation Realty (renovationrealty.com). The business practices of Renovation Realty have proved to prey on people in distress. They function solely for the financial benefit of their company at the cost of their clients. The lack of communication with individuals employed by Renovation Realty is unacceptable. They have left my family with a financial and personal burden, and I hope to document this information so that others will not suffer the same fate. (youtube.com/watch?v=_ewB… ) They falsely market that a homeowner can set their own asking price. This is completely untrue. It also asked for a commission on my home that they did not sell.
Renovation Realty markets that they will renovate your home at no cost to you and sell your home at your asking price and no low cash offers. I clearly stated my asking price multiple times and was willing to slightly lower my asking price upon request. Their staff assured me, multiple times, that they would not try to sell my home at a price lower than my asking price. They paid for an appraisal that confirmed my asking price was accurate. I declined offers that were lower than my asking price by over $600,000. I was forced to take my home off the market to try to qualify for a loan modification.
When I asked to put my home back on the market, Renovation Realty pressured me to drop my price by $390,000 below my asking price and below the appraisal price. I declined and withdrew the listing. I agreed to pay Renovation Realty back the balance of $25,000 of renovations they had done to my home. Renovation Realty then sent me a payoff amount of $98,154. This amount included interest on the home improvement and a commission of 2.5% on my home, evaluated at $2.8 million. Renovation Reality did not sell my home to deserve a 2.5% commission and is threatening me to file a notice of default on me.
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