New Building
Posted: Mon Sep 08, 2003 1:26 pm
Some of you might remember me from the homerecording.com/bbs system, and my adventure in buying a building through forclosure, then there was questions of title and ownership, after my buddy moved his machine shop from LA to NJ, and I started making plans for my half of the building (including torturing John and a few local contractors).
While I was away on vacation last week, the lawyers beat each other up, and I no longer have title to this building. Long story, I won't bore anyone with it, but the title verification company is going to eat it through their insurance, and as of last wednesday upon the hearing concluding, the title verification company has 10 business days (14 calendar days) to pay up, in full, with 2% interest attached to it.
Coincidentally and unrelated, my RE agent found another mortgage forclosure property one town over in the other direction, within my price range based on this money, and its much larger in floor space, but only two stories high (without a 2nd floor). Lou (machine shop pal) and I are going to look at it on wednesday. Its one huge building, so to "share" we'll have to build a wall between his half and my half, but its more than double the space of the old building.
So after looking, we'll have dinner and decide, included our better halves, and I might be back on track to becoming a terribly poor studio owner again.
Here is the clincher... same bank, same title verification company, same listing agent, same buyer (me).
This earth is just to flucking small. LOL
While I was away on vacation last week, the lawyers beat each other up, and I no longer have title to this building. Long story, I won't bore anyone with it, but the title verification company is going to eat it through their insurance, and as of last wednesday upon the hearing concluding, the title verification company has 10 business days (14 calendar days) to pay up, in full, with 2% interest attached to it.
Coincidentally and unrelated, my RE agent found another mortgage forclosure property one town over in the other direction, within my price range based on this money, and its much larger in floor space, but only two stories high (without a 2nd floor). Lou (machine shop pal) and I are going to look at it on wednesday. Its one huge building, so to "share" we'll have to build a wall between his half and my half, but its more than double the space of the old building.
So after looking, we'll have dinner and decide, included our better halves, and I might be back on track to becoming a terribly poor studio owner again.
Here is the clincher... same bank, same title verification company, same listing agent, same buyer (me).
This earth is just to flucking small. LOL