In 2006 my wife and I saw an infomercial on TV being narrated by Erik Estrada from the show CHIPS to purchase property in Hot Springs Village, Arkansas which was sponsored by National Recreational Properties of Hot Springs Village (a licensed real estate broker in Arkansas). The offer included free airfare and hotel if you purchased a property in Hot Springs.
After being toured around and driven in a car to view the lots my wife and I decided to make a real estate investment on a lake view lot for $49,400. We were told we did not have to build on the lot if we didn't want to and sell the property at a later time. Two years have gone bye, and my wife and I decided to sell the property that we paid cash for.
I picked up the phone on 9/29/08 and spoke with a local Hot Springs Village realator to sell my property and he had said that NRPI had gone out of business and owed the city of Hot Springs Village approximately $1,000, 000! He also went on to say the county had only appraised the property at $8,000!
To say the least, I am not very happy and I will pursue legal action with NRPI if my situation is not rectified. If you are in a similar situation as I am, please report your situation to Ripoff report and we will put together a class action suit against NRPI for this outrageous rip-off!
Craig
Gilbert, Arizona
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