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Those were the exact words used on the front page of the TBJ this week. The N&O article makes it clear that Hasentree is in foreclosure. Thanks for the link, I missed that seeing that in my paper.
what does this mean about buying alot on the 19th?
The operations of the auction are discussed in the Auction guide in the link below.
You can see the legal notice in the Cary News issues of 12/3 and 12/10, or hanging on the bulletin board in the courthouse lobby inside the Salisbury Street entrance. The notices will be on the space marked "19."
You should do a title search prior to bidding, since there is no stipulation that clear title will be conveyed. The courthouse auction is no place to fool around.
I predict that the bank will bid the lien amount and you will need to either outbid them or upset the bid within the 10 day upset bid period.
Quote:
Originally Posted by MikeJaquish
According to legal notice in the Cary News, 12/3/2008 and scheduled for 2nd print notice 12/10, several parcels and platted lots will be auctioned by Substitute Trustee David Pryzwansky starting at 10:00AM, December 19.
File 08-SP 006091 is one list of properties.
If they auction off pieces of the property to raise money and reduce the debt does that mean that the land that was auctioned off could be used to build say KB track homes or homes 2000 Sq. Ft or less which is what is currently selling right now? Could the community of $1M and up homes have KB, DR Horton, or Pulte homes as an example within it? That would be sad for the people that invested in a luxury community only to have lower valued homes built around them.
If they auction off pieces of the property to raise money and reduce the debt does that mean that the land that was auctioned off could be used to build say KB track homes or homes 2000 Sq. Ft or less which is what is currently selling right now? Could the community of $1M and up homes have KB, DR Horton, or Pulte homes as an example within it? That would be sad for the people that invested in a luxury community only to have lower valued homes built around them.
Yes, it would be sad for them if that happens.
But, the CCR's may well be open to change by a vote of the members, and if one party buys most of the lots and unimproved land, than they may well hold the votes. It is common for the developer or exclusive builder to hold TWO votes per lot.
The subdivision is large enough that it may be possible to partition off a portion for a reorientation of marketing effort.
HA no. The hasentree covenants are very specific and very restrictive and are already in effect, regardless as to whether the bank owns them or a developer owns them at this point. Homes have to fit the criteria in order to be built there.
HA no. The hasentree covenants are very specific and very restrictive and are already in effect, regardless as to whether the bank owns them or a developer owns them at this point. Homes have to fit the criteria in order to be built there.
I believe this may be the same problem that the Hidden Lake community in Youngsville is having.
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