News about properties and real estate
Investor sues to bail out of four WCI condos A Virginia investor who bet on South Florida’s condo market in headier days is trying everything he can to get out of contracts on four Singer Island units and recover about $1.6 million in deposits. John Cherin has filed three federal lawsuits against Bonita Springs-based WCI …
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Entrepreneurs must pay $1.9 million Jury says couple who lost their building and businesses must honor guarantees they made to pay business debts Carolyn Waygood’s string of bad luck keeps extending. First she lost the 40,000-square-foot retail center she built on the Manatee River to foreclosure. Then she and her husband were evicted from their …
Millionaire hopefuls’ cash gone with breeze [South Florida] In January, Ocean Land Investments of Boca Raton agreed to pay Briny trailer owners $510 million for their oceanfront property, a defiantly unpretentious middle-class oasis wedged amid mansions, high-priced condominiums and opulent hotels. Ocean Land planned a development featuring 900 condos, a 349-room hotel, a marina and …
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Sarasota YMCA entangled in unorthodox land deal [South Florida] A complex real estate deal between the Sarasota Family YMCA and one of its fundraising foundation board members made the charity at least $250,000. But the deal also turned out good for the board member, Sarasota attorney David Band. Together with four partners, Band sold half …
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‘Escrow’ has at least two meanings in real estate Q: I used to live in California where the word “escrow” referred to the closing of a real estate sale. For example, we said, “We’re in escrow for the sale of our house.” But then I moved to Florida where the term “escrow” seems to have …
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Tarragon, in Credit Crunch, Expresses Doubts on Future Apartment and condominium builder Tarragon Corp. raised doubts about its ability to remain in business amid weak demand and an inability to raise new financing, in the latest fallout from the spreading credit crunch. It also disclosed that the wife of the company’s chief executive sold stock …
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