Sun City Anthem

Sunday, June 9, 2019

Construction Default Lawsuit Settled....but...Many Questions Need Answers

Liberty Center Default Construction Lawsuit Settled
Was It Worth It?

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3 comments:

  1. From Elizabeth Breier...to...Anthem Opinions

    Another potential expense affecting net return:

    Depending on how the Settlement is written and if the proceeds are compensatory or punitive damages, there are taxes to be considered. 

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  2. A great additional consideration, Liz.

    ReplyDelete
  3. From Robert Nusser...to...Anthem Opinions 

    As a retired Bank employee and retired Real Estate Appraiser, I fully concur with Mr. Fetherolf's  opinion that the Liberty Center building should have been professionally inspected BEFORE we accepted the keys to the building; AND if, in fact, SCA had a deal with Pulte to accept the structure "as is", it demonstrated the complete lack of experience of that HOA Board. 

    In over 30 years of experience, I NEVER heard of a situation whereby a Bank funded or accepted new construction without incremental inspections during the building process AND a complete final inspection BEFORE paying for the construction...

    ...of course, some individual(s) may try to show me to be incorrect since we didn't "pay" for the building - but, in effect, we ALL paid for it.

    The fact that Pulte would NOT allow inspections of the on-going construction WOULD  have been a RED-FLAG to anyone with a modicum of construction experience.  

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