[Marshamoreno] land issues
Linda Mac Dougall
holisticdoc at gmail.com
Sun Jul 3 11:37:05 PDT 2011
Both Marsha and Jason are talking bankruptcy filing so unless
something changes, that is what we are looking at happening at
lightning speed when she is able to do that.
100k will probably not be an offer we have to wrangle with. Jamie
said that even the bankruptcy court guys would probably look to sell
it at 2-300k. All that is without the mineral rights, but if they
didn't get enough from the land, you can bet your sweet bippy that the
mineral rights would go, too. But mineral rights should be a separate
sale, if we can make it so.
On the other hand, we may not have too much choice in what we take or
don't take in the way of price ultimately. If we don't show that we
are willing to sell, the court may decide to step in to get it sold at
their price and we lose all. In this market it is worth what you can
get and no more. That is why I want to take back papers and make it
an easier choice for folks to want ours at a price closer to what we
want. If we don't carry back, the buyer has to come up with all cash
and will want to bargain more. Financing makes it better.
Realtors want the best commission they can get so telling a buyer
about a pending bankruptcy lessens their position, too.
I am working with Jamie to keep the price listed the same until we all
agree to lower it and to what amount. I would rather he tell folks
how motivated the sellers are and let them make an offer. That should
keep us closer to our price than his 499k. However, we may need to
take him up on the lower price or decide amongst us to lower it some,
but not that much. I want to see both of you get what you need to
help dig you out. What I get is what I get be it cash, or paper for
my part. Jamies suggested price I hope would net us all enough to do
what we each need done. Much lower and it doesn't do the trick nearly
as well. But in the end, we need to sell to help each of you out.
On 7/3/11, Richard Robinson <richard.h.robinson at oracle.com> wrote:
> Quoth Linda MacDougall -
> Looks like Marsha may be coming home tomorrow, Sun. Spent a lot of
> time with her today and Keesha arrived and was there when I left.
> Heidi will stay with her much of the time when she gets home.
> I get the feeling that she will be glad to slow down and mend.
> I spoke with Jamie about the land and mineral rights and bankruptcy.
> He thinks the court will be happy that we are working to sell the land
> and not get involved in the process until it sells and they pounce on
> the money. I could see how it would ease their job.
> He has a gentleman who is a fashion photographer who has shown
> interest in ours and another piece. The guy is currently out of the
> country, but returning mid month.
> I told Jamie that since there is someone potentially and since the
> courts would not want to get involved immediately to just tell the man
> that we are eager to sell and to make an offer. I figure that that
> way we may get more than the suggested relisting price and the guy
> would still get a good deal. The two properties are 100k apart, ours
> being the more expensive and we are willing to carry papers. That may
> nudge him our way. Is anyone in disagreement with what I have told
> I say get an offer, for sure. We can always say no.
> I think it is OK for Jamie to say we are motivated, I hope he is not
> saying anything about bankruptcy
> to prospective buyers. I think that would weaken our position too much.
> Are we including the mineral rights in this offer?
> Here are my additional concerns.
> First, I think we need to choose a best path through then entire mess,
> not choose individual
> paths through individual parts of the mess, because they will affect and
> restrict other choices.
> I want Marsha to have all the resources at her disposal to make the most
> informed decision possible.
> Then I want to know the result. Does Marsha think she will have to file
> bankruptcy? If not, that changes the
> game a lot.
> We need to know all the fixed parameters of the situation. What things
> are really known and unlikely to change?
> With that information we can make best decisions about the rest (such as
> potential offers).
> One of those points that could and should be known is what is the
> minimum offer we would accept?
> I started the reverse bidding at $20K. I think I could safely bump it
> to $100K. I would not want to accept $100K.
> If one of my sisters said they needed to accept it at $100K I would have
> to reconsider. But for myself I would not accept
> such an offer at the present time.
> I suspect all three of us could bump this some more.
> Limbo time! How low would we go?
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Linda Mac Dougall, Holistic Health Practitioner
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