Land Transaction Examples - SE 97th & Lawnfield
A bank repossessed this site after a previous developer did not meet the loan obligations. As the bank did not want to own the site, they hired John to find a buyer at a price that would allow them to sell according to the bank’s gain/loss regulations. The site had significant slope and no sewer access. John found a buyer that was willing to hold the site without immediate development and pay the price our client needed. The buyer with strong personal finances negotiated with the bank to make a new loan to fund the purchase. Our client happily turned a non performing loan into a performing loan which in the regulated bank world is an extremely favorable transition.