Is there any thought, experience about this

Hi Thuy, where you were building with eco-smart, I just touch with them for takanini house & land package, after reading about you it’s scared me to go with eco-smart, how ur review with them?

Someone who dealt with Eco-Smart homes last year had a very bad experience. It seems that Eco-Smart run a sort of “Ponzi Scheme” whereby they sign you up for a house and land package that is very reasonably priced (almost too good to be true) for a house that is not built yet in a large subdivision they say they are developing. They recommend their lawyer for you to use and the contract has a date for completion that doesn’t seem unrealistic and you hand over a deposit. Eco-Smart will do this to a dozen or more people all the while your combined deposits accumulate in their account and when they have enough money they will build one house. They have no intention of honouring the completion date on your contract in fact it’s in their best interest for them not to sell the house to you because they can then legally sell the house for twice as much as what they quoted to you. This is a tactic employed by building companies that have a terrible credit rating, they will use your deposits to fund their projects and when the first house is built and then sold (not to you for the agreed price) this sale will bankroll the next house and so on and so on…. They will cling to your deposit for as long as they can by telling you every lie they can and eventually they will refund you so they have effectively borrowed money for 0% interest and for as long as they want. I don’t know if this is all legal but it’s certainly morally wrong and I would suggest you go to a lawyer that deals with contracts and see if you can get out of your contract sooner, perhaps using the fact that the lawyer they recommended has a conflict of interest? I’ve said this before but if it seems too good to be true then it probably is. There is no secret magic recipe that any one building company has over everyone else and due diligence on your part is all you have to protect yourself. Let us know how you get on please? Good luck.