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Post by fuzzyscorpio on Oct 25, 2006 23:12:34 GMT -5
re- that ws because of the story I told you.. They had to sell it for a price that they HAD to take,, no choice... They took it to court but the crooked NWW court system told them that they *HAD* to sell it at a price that the developer offered. NO CHOICE>>>> Nice huh? Thats why they did not sell for what it was really worth... I was told something similar, in passing, when I talked to staff there. As I recall she said the sale "was forced by the city." Sad to think the owners took that much of a beating on the price.
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Post by FlyinGN on Oct 26, 2006 6:54:46 GMT -5
nope.. What happened was that a slick lawyer got one of the owners of the HR to sign papers to sell to a developer for a low amount. The other owner said no way. The lawyer/deleloper tok it to court and the judge decided that it would be a hardship for the deleloper because he was planning on getting it. Honest. This is how they lost the HR.. They fought it in courts for 5 years and lost... Very odd. I wonder if they entered into some kind of contract with the developer and the developer sued them for "specific performance", which is basically to force them to sell for the terms of the contract.
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Post by hulk007 on Oct 26, 2006 7:26:55 GMT -5
I'm guessing the old lady was holding out. Doesn't she or someone who was involved with the HW also own the Villa Nova in the crest?
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Post by Robert on Oct 26, 2006 10:29:23 GMT -5
About the high tax thing, higher property values and higher taxes will drive out the lower income people as properties are demolished and replaced with more expensive housing.
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Post by thelastresort on Oct 26, 2006 10:30:43 GMT -5
nope.. What happened was that a slick lawyer got one of the owners of the HR to sign papers to sell to a developer for a low amount. The other owner said no way. The lawyer/deleloper tok it to court and the judge decided that it would be a hardship for the deleloper because he was planning on getting it. Honest. This is how they lost the HR.. They fought it in courts for 5 years and lost... Very odd. I wonder if they entered into some kind of contract with the developer and the developer sued them for "specific performance", which is basically to force them to sell for the terms of the contract. well, yeah, this is the whole "specific performance" thing, the parties (or at least some of them) had a contract, whether a sweetheart deal or not, and the judge ordered them to comply with the terms of the contract. But how the other unwilling owner got usurped is interesting. I suspect the developer used arguments like "detrimental reliance" to persuade the judge. Although it seems on it's face like a tragedy or a "screw-job", these types of things are not that uncommon. PS, where are you getting the info on this? I would be curious to read the case. Please post it or if you'd prefer, PM me, thanks.
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Post by FlyinGN on Oct 26, 2006 12:12:02 GMT -5
got it from one of the owners daughters... This 'screw job' was like this... My wife and my name is on both our cars. If she decides to sell the one we just bought for $30k for.. say 9k dollars... so a family offers to buy it and she signs the title over. But I did not sign it too. This would be like the courts ordering me to let it go at a tremendous loss just because the guy who offered the $$ wants it.. Is this fair? ?
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Post by wildwood4life on Oct 26, 2006 12:30:41 GMT -5
The taxes are rediculuous.....When talking to the owners of the Sans Souci at the end of Irish Weekend last year, they said that ultimately the taxes is what is going to be their deciding factor as to weather or n ot they stay or go. We all know what happened there.
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Post by thelastresort on Oct 26, 2006 14:52:14 GMT -5
got it from one of the owners daughters... This 'screw job' was like this... My wife and my name is on both our cars. If she decides to sell the one we just bought for $30k for.. say 9k dollars... so a family offers to buy it and she signs the title over. But I did not sign it too. This would be like the courts ordering me to let it go at a tremendous loss just because the guy who offered the $$ wants it.. Is this fair? ? I agree, fundamentally, it seems unfair. I guess I should have said "these types of apparent 'screw jobs' are not uncommon". I just think it might be a bit more complicated, and there must be more to it, maybe in the relationship between the two owners. Like maybe their partnership arrangement allowed either party to negotiate on both of their behalves? Maybe the two owners had a partnership or small corporation, and the one owner had the "apparent authority" to negotiate for both of them, on which the developer relied. There are many possibilities. Or, maybe, they did just get screwed? Too difficult to tell without knowing all the facts.
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Post by wildre on Oct 26, 2006 15:08:28 GMT -5
Thanks Cindy for the translation. I understand it now, I was hoping you would see this and explain it. But ALL of North Wildwood was reassessed last year. So I certainly don't understand the under valued assessment. Since it's the land that's taxed significantly higher than what's built on the parcel. Martin it did go down from(about) $2.24 to 70 cents per mil.
5/6 years ago,$2,150,000 wasn't a bad price for it. Now that price is a steal. I wonder if the sellers are getting a condo unit(s) when completed?
We will probably never know the full story.
re
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Post by wildre on Oct 26, 2006 15:20:14 GMT -5
The taxes are rediculuous.....When talking to the owners of the Sans Souci at the end of Irish Weekend last year, they said that ultimately the taxes is what is going to be their deciding factor as to weather or n ot they stay or go. We all know what happened there. Support is growing in Trenton for the creation of a brand new commission that would "suggest" which local communities should merge together to save duplication of services, and taxpayers...money. The commission is being seriously considered by leading lawmakers; it would come up with a list of criteria to combine local towns and school districts into larger ones to save money. There are over 500 municipalities and over 600 school districts in the state The average property tax bill is $6,000...highest in the nation.
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Post by writhinganacondo on Oct 26, 2006 22:23:44 GMT -5
I'm guessing the old lady was holding out. Doesn't she or someone who was involved with the HW also own the Villa Nova in the crest? Try involved with the Hurricane night club. Yes, that Hurricane.
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Post by writhinganacondo on Oct 26, 2006 22:27:23 GMT -5
The taxes are rediculuous.....When talking to the owners of the Sans Souci at the end of Irish Weekend last year, they said that ultimately the taxes is what is going to be their deciding factor as to weather or n ot they stay or go. We all know what happened there. I would say they knew long before the end of last years Irish weekend that they were going to sell. They knew exactly the right time to sell and enjoy those millions. Good for them, they were extremely nice people.
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Post by FlyinGN on Oct 27, 2006 6:46:43 GMT -5
Yes they were..... The taxes are rediculuous.....When talking to the owners of the Sans Souci at the end of Irish Weekend last year, they said that ultimately the taxes is what is going to be their deciding factor as to weather or n ot they stay or go. We all know what happened there. I would say they knew long before the end of last years Irish weekend that they were going to sell. They knew exactly the right time to sell and enjoy those millions. Good for them, they were extremely nice people.
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Post by wildwood4life on Oct 27, 2006 17:32:14 GMT -5
Yea they were awesome people and very accommdating, but it still pisses me off
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Post by fuzzyscorpio on Oct 27, 2006 18:01:27 GMT -5
Support is growing in Trenton for the creation of a brand new commission that would "suggest" which local communities should merge together to save duplication of services, and taxpayers...money. The commission is being seriously considered by leading lawmakers; it would come up with a list of criteria to combine local towns and school districts into larger ones to save money. There are over 500 municipalities and over 600 school districts in the state Interesting, I hope it doesn't take them umpteen years to get this commission up and running. New Jersey's never-ending roster of municipalities is pretty funny--until you really start to think about it, and then it becomes irritating. We'll have something to celebrate one day if they force the Wildwoods to merge. Party at Thom's ;D
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