A Story of Failure....... and potentially Big Reward

[trevismcconaghy]

As the moving trucks pulled into the Town of Govan, Sask today, they planned to put their beams under a duplex I had purchased in a joint venture to move to a larger City.
As it turns out, the lawyer on the sellers end had not made the property free of encumbrances to move.
The property has been paid in full, and a bond has been put up by the purchaser in full. The move forms have been filled out to move the building. Unfortunately, the Town wouldn't let the building move.
When the purchase went through, only the building was purchased and not the land the building was on. As such, once the building is moved, the vendor is responsible to clean up the site. The vendor is also responsible for taxes.
We found out today that the lawyer of the vendor has not paid the taxes in full or left money for a bond to clean up the site. As such, the building cannot leave the site.
We are backed up 2-3 months on the move and have a ready to go lot and foundation in the new City.
We just are not allowed to move the structure. A $5000 additional bond, and $2000 tax payment would solve the problem but it isn't the purchasers responsibility.
How this will unfold I am not sure but as this saga continues, it is just a hurdle to overcome in the road to success. 'Never, ever give up.' There will be a reward at the end......

 

[kfort]

With potential profits in the 10’s (100’s?) of thousands... are you waiting? I’d be tempted to outlay the $ and keep things on schedule to protect current partners return & that relationship. Maybe that’s (present value of your expected future return)what you’re weighing?


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[Thomas Beyer]

Governments everywhere like their pound of flesh to fed their often oversized and usually overpaid staff.


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