Precarious builders in the Charlotte area

[caterpillar2 11]

Has anyone had experience with builders who have started developments, then abandoned them leaving numerous debts and issues, but somehow had money available to invest in other ventures under different names? In less that one year, our community was bought/sold by three different developers/builders. Although these companies do business with a Sugarland, Texas post office box address, they can not be reached. Names connected to those companies are Roopra, Cheema, and Kumar. I urge you to check out builders by asking for legitimate references, BBB checks, actual visitation of so-called successful communities,individual background checks, and financial records.

A good example is Apollo Custom Homes which is listed on the internet as a company operating in Toronto and Charlotte. The owner is (was) Jasbir "Jack" Cheema. He advertises in Toronto with photos of homes in a Charlotte area community which he abandoned leaving homeowners in dire straits. Two of his homes, one in Cornelius and the other in Mooresville, are being investigated for arson in which he is a key suspect. Be vigil. Opportunists are taking advantage of trusting people.

[dcharlotte 218]

When developers make a development they buy the land under an LLC and then operate the LLC under their company. When things turn bad they simply pick which projects have the best chance of living on and protect them. They then pretty much fold the other LLCs and let them go back to the bank for foreclosure. In some cases developers have sent large tracts of land back to the bank to be purchased only by another LLC that is operated by the President or VP of the company then they do a 'change in title vesting' and put the property right back into the hands of the developer, all while spending time focusing on other projects.

Without getting too specific, you can track down these people and their information to their home addresses and phones very easily with today's technology - if you need to.

[caterpillar2 11]

When developers make a development they buy the land under an LLC and then operate the LLC under their company. When things turn bad they simply pick which projects have the best chance of living on and protect them. They then pretty much fold the other LLCs and let them go back to the bank for foreclosure. In some cases developers have sent large tracts of land back to the bank to be purchased only by another LLC that is operated by the President or VP of the company then they do a 'change in title vesting' and put the property right back into the hands of the developer, all while spending time focusing on other projects.

Without getting too specific, you can track down these people and their information to their home addresses and phones very easily with today's technology - if you need to.

You are absolutely correct; however, when the original owner keeps changing the names of his investments and lists them with a post office address in Sugarland, Texas, tracking is difficult. The name of each new LLC is like a revolving door among the several associates (mostly from India and Canada) that are involved . They know the ins and outs of the system, and play on the lax judicial system in the U.S. The most recent LLC delared bankruptcy on ten empty lots at a cost of only $1,000 to the developer to prevent an auction of the properties. The HOA has performed miracles to keep things operational by way of major special assessments to the homeowners. The HOA lacks funds to go after these individuals. Aparently banks don't care who they give their money too in such cases.