In January I purchased a Mobile Home with Land package from Southern Energy / 5 Star Properties in Summerville, SC for $103,000 with no money down.
My inital problem with Southern Energy / 5 Star was that promised repairs to the Mobile Home were never completed. Prior to the sale many repairs to the Mobile Home were promised to be made.
In Feb I discovered after consultations with a couple of local Realator's that the original appraisal for the land-home package from Southern Energy / 5 Star Properties was inflated by $40,000 and that the actual market value was approximately $70,000 and NOT the $116,000 as stated by Southern Energy / 5 Star. This is an unrecoverable negative equity.
Given that South Carolina has little, if any, real Consumer Protection my only real option is to file Bankruptcy at this point. If I had the resources I most certainly would have filed suit against Southern Energy / 5 Star Properties for their deception & fraud.
I'm not the only one who has had problems with Southern Energy / 5 Star either. A couple of my neighbors I know of have also been ripped off by this company as well.
From what I've been able to determine Southern Energy / 5 Star Properties rips off a bunch of comsumers then close's up shop only to re-open under a new name to continue their scam. The name may change but management doesn't. The apparent leader of this scam is a gentleman named Scott McGillis.
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