HOME renovations can be costly, but one owner’s restoration left her with no retirement.
Colorado woman, Leesa Tori, started a massive remodel on her 2,500 square foot home back in June 2023.
Tori may be forced to sell her home to recoup the cash[/caption]
The company she hired had not finished the job or paid their workers[/caption]
She quickly realized that the company she and her architect chose was a scam.
Tori spoke with CBS after seeing a story about the same company, Cooner Construction LLC, scamming someone else.
The construction company, headed up by Joel Cooner, was given the job of handling the $350,000 renovation.
The first few weeks seemed normal until Tori spotted odd behavior, such as Joel dropping off a ton of lumber and letting it sit out in the weather for months.
Additionally, when tasks were completed, much of it had to be redone – costing her more than she expected.
“Then, nobody came, except for Joel every once in a while, over a weekend working by himself, and I started getting nervous,” Tori told CBS.
Eventually, their working relationship abruptly came to an end when the contractor stopped showing up altogether.
At the time, Tori was living in a trailer that she was renting from her friend – a plan she thought would be for only six months total.
She ended up forced to stay nearly two years.
WHAT HAPPENED?
While the Cooner company never finished the job, they never paid the workers for the small amount that was done.
It then fell on Tori to pay them.
This means she not only had to pay for the contractors and subcontractors to finish her house – she owed them for what Joel failed to pay.
A complaint was filed against Cooner where CBS reported that a settlement was reached.
However, Tori only had enough to pay one of the subcontractors who never received the payment they were supposed to have.
While a new company was hired, the damage was done.
Tori had already given the scammer $300,000 and was left with nothing to show.
“It cost me three times as much to finish the property, and all I could do was cash out on my retirement. I just didn’t have any options,” she said.
Tips on spotting property scams
These five tips on avoiding real estate scams have been shared by The Bellamy Law Firm.
Fake Owners:
- This is where properties are listed for sale by scammers who do not own them.
- They may ask for a deposit to “hold” the property until you can view it to lure in prospective buyers.
- Be wary of people who ask for money upfront and before signing any documents ensure you ask to see the tax records and deeds.
Fake Real Estate Professionals:
- Scammers pretending to be real estate agents.
- Prospective buyers can check the Board of Realtors website for the individual and their real estate license to confirm their story.
Cash Offers:
- Warning phrases for this are: “We pay cash for homes” and “We buy ugly houses.”
- This often sees people sell their homes for much less than the going market value and those who are hard-up are often victims.
Predatory Lending:
- Some mortgage lenders may urge borrowers to repeatedly refinance their mortgages when it is not needed so they can get more cash on hand.
- It is also important to be suspicious of lenders who come to you before you have requested help.
Bait-and-Switch Moving Companies:
- This is where the moving company gives you an estimate for your belongings and then increases the cost when they arrive which pressurizes customers to accept the new offer.
- Another version of this is when movers pick up your belongings but hold them hostage and refuse to deliver them until more money has been paid.
- People moving homes should ask for a license number from the moving company and check for complaints with official companies like the Better Business Bureau and the Federal Motor Carrier Safety Administration.
- It is also worth shopping around by getting multiple quotes and holding off on paying until the move has been completed.
Source: The Bellamy Law Firm
“It’s absolutely devastating. I’m 59, thought I’d be retiring in a few years, I have no retirement, no nothing,” she added.
It’s not all bad news though.
Her home is at least livable despite parts needing to be completed like some framing, shower doors, and more.
However, the amount of money she lost may force her to sell the property so she can pay off the debt.
“It breaks my heart to think about that. I’m trying to really figure out another way,” she said. “I just had visions of all five grandsons playing in the yard, my kids and their spouses together.”
The scammer left a bunch of lumber which sat out in the weather for months[/caption]
