District of Columbia Attorney General Sues Curbio for Targeting Financially Disadvantaged Seniors
Curbio, a company specializing in rehabilitating homes for sale, is facing a lawsuit filed by District of Columbia Attorney General Brian L. Schwalb. The lawsuit alleges that Curbio specifically targets financially disadvantaged seniors and traps them in contracts that are highly unfavorable, leading to potential financial ruin.
One of the main services offered by Curbio is renovating homes for sale, with the unique feature of allowing owners to defer payment for the renovation services until after they have sold their homes.
On Curbio's website, they promote their services by stating, "Preparing a listing for market is a big lift. Let us take care of it for you." The company also claims that their clients' homes typically spend fewer days on the market compared to other listings, and that sellers can expect a great return on investment through their refresh services.
The company boasts that it is able to fix up properties 65% faster than its competition, and that the average return-on-investment for homes it renovates is 200%. Additionally, Curbio claims that their homes sell 50% faster than those sold as-is.
Lawsuit Allegations
However, the lawsuit filed against Curbio argues that the company actually places a lien on the property and charges consumers excessively for subpar work. Furthermore, the lawsuit claims that the renovations often take much longer than initially promised by the company.
Home Renovation Company Faces Lawsuit for Exploiting Elderly Residents
Washington, D.C. - A home renovation company, Curbio, is facing a lawsuit filed by Attorney General Schwalb for allegedly targeting elderly residents with deceptive practices. The lawsuit claims that Curbio lures in elderly homeowners with false promises of quick and high-quality renovations to increase the value of their homes for sale. However, the company allegedly traps consumers with exploitative contracts that put them at risk of financial ruin.
Danielle Siler Tyler, a homeowner who used Curbio's services, shared her negative experience, citing project delays, unfinished work, inflated prices, and a lack of concern from the company. She described the process as turning her family's dream into a nightmare.
Curbio has denied the allegations, stating that the claims are without merit and that they provide valuable services. The company argues that the complaint paints a false narrative by focusing on a few isolated instances and general market data about elderly home sellers.
While Curbio maintains that the majority of their projects in Washington, D.C. are completed and sold without issue, the lawsuit seeks to hold the company accountable for their alleged exploitative practices.
The Attorney General's office has presented accounts from former customers of Curbio, illustrating the difficulties they faced. One such example is an 86-year-old homeowner and her grandson who entered into a $57,640 contract with the company for work that was estimated to be completed within 45 days. However, three months passed the estimated time frame and Curbio initially claimed that the work was finished. Subsequently, the customers complained that either the work had not been completed or was not up to standard, but Curbio failed to address these concerns.
After an additional three months, Curbio placed a mechanic's lien on the property to prevent the homeowner from terminating the contract, despite the customer's assertion that the work was overdue and some of it had not been completed. The Attorney General's statement confirms this.
The lawsuit aims to declare Curbio's contracts null and void, stop the company from enforcing liens on properties where work was not carried out, and seek damages and other remedies for affected customers.
This legal action by Schwalb's office marks the first instance of an enforcement agency taking action against Curbio, a company that operates nationwide.
