Velur Investments Milpitas and Van Nuys

Here is a copy of the complaint I wrote to the Better Business Bureau of Silicon Valley about Velur Investments. "I am asking for a refund of the sales commsion of 10% of $87,500 or $8,750 paid to Marissa Yap and Remy Soriano of Velur Investments. This company uses high pressure tactics to get the husbands of Phillippino immigrants to buy high desert land that is bought at low prices then marked up 150% and resold to Phillippino families who are unaware of the many requirements to develop high desert land and restrictions upon land which require leach fields or septic tanks and electricity. In September of 2002 my wife aked me to attend a sales resentation by Remy soriano and Marisa Yap of Velur Investments. After deciding on a vacant lot I asked to see comparable listings of lots sold in the same area. Two days later they gave me a listing of comparables and demanded I write them a check for $20,875 even though I had not had any time to verify that the comparable sales were accurate. I gave them the check because they were friends of my wife who is also Phillipino. During the next few months I found out by making calls to a real estae agent in Lancaster and from the title report recieved from Velur that the lot I had purchased was way overvalued. Belur had bought the property in June of 2002 for $35,000 and had revalued it to $87,500 and sold it to us. On top of that some of the comparable properties they gave us were really commercial sales rather than residential lots and some had been sold up to 10 years previous to our purchase. We were able to cancel the contract. I am just one of the victims of this companies sales practices I have seen more victims stories on Yelp. My wife and I are now divorced over this incident and I hope a similar fate does not occur in your future also.