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I have been doing research for a while now about purchasing property in coastal North Carolina and several communities seem to have litigation pending against them. The lawsuits date back several years and all seem to concern Coastal Companies and Mark Saunders. Several of the communities I have been interested in are included in this group. Can anyone enlighten me who lives in these communities as to what is going on and potential risks I may be taking? Ocean Ridge Plantation, River's Edge and Seawatch. (not even sure they are still selling at Seawatch?)
Can anyone enlighten me who lives in these communities as to what is going on and potential risks I may be taking? Ocean Ridge Plantation, River's Edge and Seawatch. (not even sure they are still selling at Seawatch?)
There are also several realtors around who will offer to help. I would suggest contacting a realtor about specific properties, but we are not allowed to recommend them publicly. I suspect the suits should not affect the consumer, but they may involve amenities not being built.
I have been doing research for a while now about purchasing property in coastal North Carolina and several communities seem to have litigation pending against them. The lawsuits date back several years and all seem to concern Coastal Companies and Mark Saunders. Several of the communities I have been interested in are included in this group. Can anyone enlighten me who lives in these communities as to what is going on and potential risks I may be taking? Ocean Ridge Plantation, River's Edge and Seawatch. (not even sure they are still selling at Seawatch?)
I know about ORP - we have a lot there and so do two of my friends from here in NJ. Seawatch is not being built at all I believe.....River's Edge has homes in it from what I know about. Rivers Edge has a lot of townhomes for sale now...as well as lots that are extremely cheap compared to ORP's lots so I don't know much about that plantation at all....Maybe someone else on this forum will know more.....
I have been doing research for a while now about purchasing property in coastal North Carolina and several communities seem to have litigation pending against them. The lawsuits date back several years and all seem to concern Coastal Companies and Mark Saunders. Several of the communities I have been interested in are included in this group. Can anyone enlighten me who lives in these communities as to what is going on and potential risks I may be taking? Ocean Ridge Plantation, River's Edge and Seawatch. (not even sure they are still selling at Seawatch?)
contact: GetoutofNJDave - I think he's building in River's Edge. See below I copied from an older posting....
Quote:
Originally Posted by GetoutofNJDave Don't forget River's Edge in Shallotte. 1 mile from Main St. and 12 miles from Holden Beach. We will be building our dream home there soon.
GetoutofNJDave - Are you building in River'ss Edge??? someone here on Coastal North Carolina is asking about that community........
I know about ORP - we have a lot there and so do two of my friends from here in NJ. Seawatch is not being built at all I believe.....River's Edge has homes in it from what I know about. Rivers Edge has a lot of townhomes for sale now.
You believe that Ocean Ridge is in very good shape, don't you, MissNancy? As I understand Mark Saunders has paid his back taxes to Brunswick County, and he has return lots to the control of the Ocean Ridge HOA. So is it true that Mark Saunders no longer has an interest in Ocean Ridge?
ORP seems to have excellent amenities, as it has four functioning golf courses and a fifth course that is being re-worked.
Last edited by goldenage1; 04-04-2014 at 08:56 PM..
We have owned a lot in ORP for over 10 years, planning to build in the next couple of years.
We've watched this part of Brunswick Co. go through a hugely, artificially, inflated real estate boom to a disappointing, in some cases, economically devastating financial disaster.
Mark Saunders has developed ORP, Rivers Edge and Sea Scape. Sea Watch and Ocean Isle Palm were pretty much non-starters.
Saunders has had a contentious relationship with Brunswick Co. for years. In 2010 he sued the Co. for running sewer lines through his property (Sea Watch) rendering it unbuildable. He decided to withhold property taxes because of this.
He also developed Sea Scape, which is a marina property, one of the prettiest properties along this section of the coast and some of the most beautiful homes in the area (in my opinion) But they are involved in a law suit with Saunders and Cape Fear Engineering for defective bulkhead construction at their Marina.
Saunders was sued by the Bank of America for delinquent loans and settled by giving the bank 750 parcels (lots) in Ocean Isle Palms, Sea Watch and the Jaguars Lair section of ORP, BOA paid his delinquent back taxes on these properties. Jaguars Lair is across Old Georgetown Rd from the original ORP. Jaguars Lair (the old Angels Trace golf course) is not developed......well there is one home built in there... Saunders built a home for Larry Sweeney, but it is the only home in that development.
The lot owners in Jaguars Lair are suing Saunders for failure to provide infrastructure, amenities etc.
Saunders defense is that they can use the existing amenities at ORP.
We chose ORP for the location, the amenities (the beach house/parking is a bonus) and the financial situation is solid (Saunders is pretty much out of this part of the development).
We have owned a lot in ORP for over 10 years, planning to build in the next couple of years.
We've watched this part of Brunswick Co. go through a hugely, artificially, inflated real estate boom to a disappointing, in some cases, economically devastating financial disaster.
Mark Saunders has developed ORP, Rivers Edge and Sea Scape. Sea Watch and Ocean Isle Palm were pretty much non-starters.
Saunders has had a contentious relationship with Brunswick Co. for years. In 2010 he sued the Co. for running sewer lines through his property (Sea Watch) rendering it unbuildable. He decided to withhold property taxes because of this.
He also developed Sea Scape, which is a marina property, one of the prettiest properties along this section of the coast and some of the most beautiful homes in the area (in my opinion) But they are involved in a law suit with Saunders and Cape Fear Engineering for defective bulkhead construction at their Marina.
Saunders was sued by the Bank of America for delinquent loans and settled by giving the bank 750 parcels (lots) in Ocean Isle Palms, Sea Watch and the Jaguars Lair section of ORP, BOA paid his delinquent back taxes on these properties. Jaguars Lair is across Old Georgetown Rd from the original ORP. Jaguars Lair (the old Angels Trace golf course) is not developed......well there is one home built in there... Saunders built a home for Larry Sweeney, but it is the only home in that development.
The lot owners in Jaguars Lair are suing Saunders for failure to provide infrastructure, amenities etc.
Saunders defense is that they can use the existing amenities at ORP.
We chose ORP for the location, the amenities (the beach house/parking is a bonus) and the financial situation is solid (Saunders is pretty much out of this part of the development).
Good luck with your search!
Great detail on the situation regarding Saunders, Judi!! Thanks for giving all the information on this to the prospective buyer!! Can't wait till we get down there, too, in about 3 years!!
Saunders has had a contentious relationship with Brunswick Co. for years. In 2010 he sued the Co. for running sewer lines through his property (Sea Watch) rendering it unbuildable. He decided to withhold property taxes because of this.
I wonder if the suit was for not running sewer lines. That would be more likely to make Sea Watch unbuildable.
Thanks so much for all your input. I was taking ORP off the list, but I think we will check it out. We are about 5 years away from building and just starting our research. I am finding these boards so informative. We are coming down from NY and staying in SJP next week and hoping to gain some more insight into the area.
Thanks again.
Dayna
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