News about properties and real estate
One house, three quick sales, one familiar link In late 2005, Barbara and Gregory Klein agreed to sell their St. Petersburg home for $535, 000 to a man who had seen their “For Sale By Owner” sign. But when the Kleins sat down to complete the deal, their copy of the closing statement showed a …
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Developer was mole for feds [Chicago] John Thomas bought and sold downtown office buildings and helped other property developers secure multimillion-dollar mortgage loans. But the high-living dealmaker had a double life. Thomas, who was convicted of federal business fraud in New York in 2004, has been serving as an undercover government mole in Chicago for …
Peebles sues for control of Royal Palm [South Florida] Don Peebles sold off most of the Royal Palm three years ago. But now he’s suing to take over the South Beach resort, saying management is ruining the hotel. Three years after giving up control of the Royal Palm Hotel in a sale, R. Donahue Peebles …
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Holdouts from condo sales fear bill Some Florida condo owners are fearful of legislation that they say could make it easier for developers to force them to sell their properties. Right now, many condo projects are safe from a hostile purchase by developers because of contracts that say all owners within the project must agree …
Apache Shores couple losing ground – literally No one could have prepared Brian McKinley for what the strangers told him that day. Three people came to his home in Apache Shores to announce they had purchased one of the lots beneath his mobile home for unpaid back taxes. McKinley was stunned. His wife, Teresa, was …
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Angry retiree says Marco Island deals ruined him [South Florida] One night in 30 years working at a car shop in a rough-and-tumble section of Queens, N.Y., is seared in Lothar Schaarschmidt’s memory. Thugs slipped into the garage just after closing. One held a knife to Schaarschmidt’s throat, while another pointed a gun at his …
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